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FINANCIAL NEWS
Bahraini official calls for giving priority to local firms
04 Mar 2012
(MENAFN) Chairman of Bahrain’s chamber of commerce and industries Dr. Essam Fakhro called for giving local companies the priority over foreign firms for work on state-backed projects, Gulf Daily News reported.
The official said that the policy is essential in order to boost the country’s private sector, citing that there are Bahraini firms capable of carrying out those projects competently and at competitive prices.
Dr Fakhro called for the government to increase public expenditure on infrastructure and service projects.
Bahrain witnessed political unrest last year, as well as economic crisis, which hit all private sector companies resulting in big losses and economic stagnation.
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