The opening today of the inaugural Bahrain International Airshow (BIAS) will showcase the Kingdom’s position as the gateway to the Gulf, Shaikh Mohammed bin Essa Al Khalifa, Chief Executive of the Bahrain Economic Development Board (EDB) has said.
Speaking on the debut of what has been described as the most exclusive industry focussed airshow in the world, Shaikh Mohammed said such events can support efforts to achieve the ambitions of Bahrain’s Vision 2030 and National Economic Strategy. The Kingdom’s plans are designed to encourage private sector growth, support further diversification of the economy and ultimately elevate national living standards by creating greater opportunities for Bahrainis.
“In Bahrain, we have already seen the benefits of successful international events and what this can do for economic development. This goes beyond the obvious contribution through visitor expenditure. They provide a platform from which to showcase the prudent investment we have made in essential areas such as infrastructure as part of our long term strategy of diversification. And can raise awareness of the Kingdom as an ideal location for those looking to access the trillion dollar market of the Gulf.”
Bahrain is the historical centre of aviation in the Gulf. The Kingdom launched the region’s first international carrierGulf Air – now celebrating its 60th anniversary – and was also the first to open an international airport. Today, the world class BahrainInternationalAirport welcomes close to 9 million passengers each year, with more than 40 airlines operating scheduled services to over 52 international destinations. Together with the Khalifa Bin Salman Port (KBSP) and Bahrain Logistics Zone (BLZ), it already offers investors the shortest travel time between seaport, airport and logistics processing zone anywhere in the Gulf. A $4.8 billion expansion over the next 30 years, including two new terminals, will see annual passenger capacity treble to 27 million.
Shaikh Mohammed added: “Air transport itself contributes a great deal to the Middle East economy, not just in job creation and GDP but also in the catalytic impact it can have in enabling development in many other sectors. The region is an air traffic crossroads of global importance and 40 percent of the world’s population is now within flying distance. Continued development will give passengers more and more reasons to stay for longer. And for international investors, further investment in essential areas like infrastructure – coupled with enviable levels of economic growth – will continue to offer exciting business opportunities.”
The EDB itself has the overall responsibility for formulating and overseeing the economic strategy of Bahrain and creating the right climate to attract foreign investment. It has played a lead role in a number of domestic measures taken to strengthen the long term sustainability and prosperity of the Kingdom, including a prudent fiscal and monetary approach, long term strategy of economic diversification and tried and tested regulatory framework with a commitment to the highest international standards.
Bahrain has earned a reputation for successfully hosting high profile international events, raising awareness of the country as an attractive location to do business both in and from. In March the nation will host the Gulf Air Bahrain Grand Prix for the seventh consecutive year, the first race of the 2010 F1 calendar.
BIAS has been developed in partnership with industry leaders Farnborough International Ltd. The event runs from 21 to 23 January 2010 at Sakhir Airbase, adjacent to the Bahrain International Circuit (BIC).
