New Delhi, Bahrain – In a move to accelerate industrial diversification, the Ministry of Corporate Affairs (MCA) (MOCI) has announced the expansion of the Industrial Support Program, further boosting Bahrain's capacity for advanced manufacturing.
Targeted Support for Strategic Sectors
The expanded program offers immediate financial support and duty waivers for projects in:
- Advanced Manufacturing (Autos, Electronics).
- Specialty Chemicals & Downstream Petrochemicals.
- Food Processing & Agriculture Technology.
- Pharmaceuticals & Life Sciences.
Incentive Package Details
Qualified investors can now access:
- Direct Grants: Financial support for technology adoption and equipment.
- Utility Discounts: Competitive rates for electricity and water in Industrial Areas.
- Duty Exemptions: Waivers on customs duties for raw material and machinery imports.
- Financing: Preferential loans via Bahrain Development Bank (QDB).
Impact on Market Entry
For foreign investors, this significantly improves project feasibility. "The support mechanisms in place shorten the ROI timeline for manufacturing plants in Bahrain by up to 24 months," notes a senior analyst at Bahrain Development Bank (QDB).