Under the patronage of H.E the Minister of Industry and Commerce, Mr Zayed Bin Rashid Al Zayani, the works of the 15th Arab Steel Summit and the International Iron and Steel Exhibition hosted by the Kingdom of Bahrain were launched this morning in conjunction with the celebration of the 50th anniversary of the Arab Iron and Steel Union’s founding, in the presence of Dr Kamel Djoudi, Secretary-General “the Arab Iron and Steel Union”.
In his speech on this occasion, H. E the Minister welcomed the attendees, praising the selection of the Kingdom of Bahrain to begin the 15th Arab Steel Summit.
He also commended the role of the Arab Iron and Steel Union, which seeks to develop the Arab iron and steel industry to achieve the desired industrial prosperity for the Arab countries, which is in line with the visions and aspirations of His Majesty King Hamad Bin Isa Al Khalifa, King of this great country, “may Allah protect him” to achieve a comprehensive economic development that integrates with the efforts made by the esteemed Government under the directives of His Royal Highness, Prince Salman Bin Hamad Al Khalifa, Crown Prince and Prime Minister, “may Allah protect him” to achieve the economic recovery.
We look forward to having the Summit desired effect to activate and support the integration and exchange of experiences in this important industrial sector, which is witnessing rapid changes and developments worldwide.
He added that the Kingdom of Bahrain had achieved continuous success and growth over the past years in the industrial sector. This latter came because of the policies adopted by the esteemed Government since the sixties of the last century. Which aimed at not relying on oil and natural gas products alone and making the industrial sector an influential sector in the development of the economy in the Kingdom of Bahrain and seeking to attract foreign investments by encouraging industrial projects and preparing the necessary infrastructure for their establishment. This latter has led to the diversification of the existing industrial sectors in the Kingdom.
The Minister also indicated that in the iron and steel industry field in the Kingdom of Bahrain, there are approximately 20 factories for the production of iron and steel and other structural and industrial iron products, with investments worth more than 2 billion US dollars and providing more than 3,000 jobs, including but not limited to “Bahrain Steel Company”, “Sulb Company” and numerous companies are witnessing growth due to the considerable local, regional and global demand for these products.
We view this sector as one of the fundamental sectors that hold opportunities for establishing many other industries, and we seek to protect it and enhance its sustainability. In the context of Bahrain’s government interest in the industrial sector, the Industrial Sector Strategy (2022-2026) was launched as a pivotal part of the economic recovery plan, which includes five main axes. Strengthening national industries, investing in the infrastructure, improving investor experience, guiding Bahrainis professionally, and updating legislation and laws to raise the gross domestic product of the industrial sector, increase the sector’s exports of national origin, and provide promising job opportunities for the citizens. The strategy is based on supporting the sector’s transformation towards the Fourth Industrial Revolution, applying the concept of a circular economy to carbon and environmental and social governance, encouraging investment in technological infrastructure and digitizing manufacturing, and increasing the efficiency of supply and supply chains through the integration of Gulf industries to reach a developed and sustainable industry based on innovative and advanced initiatives.
The Kingdom of Bahrain’s hosting of the Summit in its fifteenth session coincides with the 50th anniversary of the establishment of the Arab Iron and Steel Union, founded in 1971 as the first Arab Union in the Arab countries under the umbrella of the Council of Economic Unity in the League of Arab States. It is also expected that this year’s Steel Summit will discuss a set of crucial topics, including the impact of the pandemic on the economies of Arab and foreign countries and its effect on the steel industry, the repercussions of the Russian-Ukrainian war on the steel industry, global economic variables and their impact on the Arab steel industry, the impact of oil and gas prices on the economics of the steel industry and the Arab steel industry: competitive position, growth strategies, opportunities and challenges of producing high value-added products in Arab countries, new technologies and their role in diversifying steel production in Arab countries, renewable energy, carbon-free technologies, circular economy and its role in the sustainable development of the steel industry, modern maintenance systems, environmental management, health and safety in the steel industry raw materials and production requirements and their impact on the future of the Arab iron and steel industry.
Several organizations, agencies, and government bodies related to trade and industry, steel production and rolling companies, suppliers of steel production technology / basic raw materials for the iron and steel industry / technological equipment/metal construction companies and companies that worked in the field of iron and steel trade and companies using iron and steel products will also participate in the summit. In addition to investors, businesspersons, consultants, companies working in the engineering and construction industries, logistics and shipping companies, scrap recycling companies and related projects, mining companies, engineering companies, and construction and reconstruction companies, as well as universities and research centres.