MANAMA, 2 October 2007 — Bahrain is going ahead with privatization of several projects in conformity with the economic policy of openness in the kingdom, Bahrain’s Economic Development Chief Executive Sheikh Mohammad bin Issa Al-Khalifa said.
He said the privatization process would cover vital state-owned economic sectors, including the postal services, fuel stations, tourism, communications, ports, electricity and water.
The wide-ranging privatization program is being studied by a special committee, he said.
He further said the privatization process is regulated by a decree stating that it should include services and production sectors, mainly tourism, telecommunications, transport, power, water, ports services, oil and gas and others.
He emphasized the importance of carefully planning the development of lands and infrastructure in Bahrain’s fast growing economy.
Only 20 percent of Bahrain’s lands were structurally planned, whereas the target is 100 percent to facilitate the delivery of basic services to citizens, he pointed out.
In 2005, the EDB had launched a comprehensive land and infrastructure development strategy, he said. It took into consideration the various requirements of different economic sectors such as business, entertainment, industry, housing and investment.
He said the plan will help shape the future requirements of the country and also play a key role in designing new residential areas.
