Deputy Premier visits Dragon City project

Manama, Oct. 18 (BNA): Deputy Prime Minister and Head of the Ministerial Committee for Urbanisation and Infrastructure Shaikh Khalid bin Abdullah Al Khalifa stressed Bahrain's commitment to maintain its competitiveness in spurring investments by providing all facilities to carry out more development projects-be they funded by the private sector, the state's general budget or the Gulf Development Programme. He was speaking as he visited today the Chinese Dragon City, which is part of Diyar Al-Muharraq project, at an invitation by Diyar Al-Muharraq Board of Directors to get updated on the ongoing preparations to inaugurate the project officially next December. The inauguration, he pointed out, will coincide with the kingdom's celebrations of the National and Accession Days. He was welcomed on arrival by Diyar Al-Muharraq Board Chairman Abdul Hakim Al-Kayat, commissioned member Aref Hejris, Chief Executive Maher Dr. Al-Shaer, senior officials as well as representatives from Bin Faqeeh Real Estate Investment Company, Chinamex, Benz Group and Nass Contractions Company. The Deputy Premier said despite the exceptional regional financial challenges triggered by a global sharp drop in oil prices, Choosing Bahrain as a favourable destination by foreign investors reflects confidence in the local market thanks to a sound legislative and economic basis that is dubbed as one of the most free and open economies. The Deputy Prime Minister toured the facilities of the $ 100 million Chinese Dragon City and lauded the implementation of the project in a record time after laying the foundation stone last year. He described the project as one of the most promising ventures in retail and wholesale trade at the local and regional levels. He said the project testifies to the advanced level of the Bahraini-Chinese relations and reflects the government's keenness to spur investments and diversify sources of revenues in order to guarantee sustainability of economic development. The Dragon City project was launched in 2012 as per an agreement signed by Diyar Al-Muharraq Company and Chinamex. It is built on 115,000 square meter of land with 55,000 sqm retail and wholesale area. The concept is focused on Chinese goods and establishments.