Bahrain Unveils Projects to Attract Investment

The flag of Bahrain
The flag of Bahrain
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Bahrain Unveils Projects to Attract Investment

The flag of Bahrain
The flag of Bahrain

The Bahraini government announced on Sunday during the Bahrain Government Forum 2017 a package of projects to be implemented next year.

Among these projects: the allocation of 4,800 housing units, the construction of a solar power plant and boosting more investments in infrastructure to develop electrical energy production and expand Bahrain International Airport in addition to establishing Danat.

Bahrain Government Forum 2017 was launched in its second edition under the patronage of Prime Minister Prince Khalifa bin Salman Al Khalifa and in attendance of Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister.

Prince Khalifa said that the government creates achievements, faces challenges, plans for the nation future and wants the government leaders to reinforce this achievement, pioneer in it, accelerate implementation steps and assure that the citizen is the first beneficiary from the government achievements.

The prime minister also lauded the crown prince initiatives in developing the governmental work including the Bahrain Government Forum 2017 -- he added that the government managed to implement a first package of initiatives to reduce expenses and increase oil and non-oil revenues as an implementation of the plan to balance the government expenses and revenues.

Another key highlight was the setting up of a country-wide 25,000 housing unit programme, which has already delivered 15,655 units across different parts of Bahrain in close collaboration with the private sector.

On the infrastructure level, $32 billion infrastructure projects of priority were determined and they will have a positive reflection on the economy, stated the crown prince.

Prince Salman also noted the adoption of the National Renewable Energy Plan, which aims to provide 5 percent of the country’s electricity from renewable by 2025.



Gazprom, CNPC Discuss Future Russian Gas Supplies to China

A view shows a board with the logo of Russian gas producer Gazprom at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo
A view shows a board with the logo of Russian gas producer Gazprom at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo
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Gazprom, CNPC Discuss Future Russian Gas Supplies to China

A view shows a board with the logo of Russian gas producer Gazprom at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo
A view shows a board with the logo of Russian gas producer Gazprom at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo

The heads of Russia's Gazprom and China's energy company CNPC discussed future Russian gas supplies to China during talks in Beijing, Gazprom said on Friday, as Moscow seeks stronger ties with the world's biggest energy consumer.

Russia, the holder of world's largest gas reserves, has diverted oil supplies from Europe to India and China since the start of the conflict in Ukraine in February 2022, Reuters said.

At the same time, Russia's diversification of pipeline natural gas from the European Union has been slow.

It started gas exports to China via the Power of Siberia pipeline in the end of 2019 and plans to reach the pipeline's annual exporting capacity of 38 billion cubic meters this year.

Russia and China have also agreed on exports of 10 bcm of gas from Russia's Pacific island of Sakhalin starting from 2027.

However, years of talks about the Power of Siberia 2 pipeline, which would ship 50 bcm of gas per year to China via Mongolia, have yet to be concluded as the two sides disagree over issues such as the gas price.

Russian President Vladimir Putin is set to travel to China in early September to participate in celebrations marking the anniversary of the victory over Japan in World War II.

The trip follows Chinese President Xi Jinping's visit to Moscow in May.