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Viewing cable 06MANAMA505, MINISTER OF INDUSTRY AND COMMERCE APPLAUDS U.S.

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Reference ID Created Released Classification Origin
06MANAMA505 2006-03-27 13:24 2011-08-24 01:00 UNCLASSIFIED//FOR OFFICIAL USE ONLY Embassy Manama
This record is a partial extract of the original cable. The full text of the original cable is not available.
UNCLAS MANAMA 000505 
 
SIPDIS 
 
SENSITIVE 
SIPDIS 
 
NEA/ARP, NEA/PI, AND EB/CBA FOR BBEHRENS 
COMMERCE FOR JFILPI AND KSHAH 
 
E.O. 12958: N/A 
TAGS: EIND EINV ETRD ECON BA ECTRD OFFICIALS
SUBJECT: MINISTER OF INDUSTRY AND COMMERCE APPLAUDS U.S. 
COMMERCIAL LAW PROGRAM 
 
Sensitive but unclassified; please protect accordingly.  Not 
for Internet distribution. 
 
1. Minister of Industry and Commerce Hassan Fakhro met with 
Ambassador Monroe, Commercial Law Development Program (CLDP) 
Attorney Advisor James Filpi and International Trade 
Specialist Kamlesh Shah March 15 to discuss CLDP's progress 
in Bahrain.  Filpi told Fakhro he had met with Economic 
Development Board Deputy CEO Dr. Zakariya Hejris that morning 
and that Hejris had expressed interest in seeing CLDP review 
Bahrain's commercial code and support small and medium-sized 
enterprises (SMEs) with FTA workshops tailored to Bahrain's 
business and legal communities. 
 
2. "I welcome it," Fakhro responded.  "I am full of praise 
for you and your efforts."  Fakhro said maximum attention 
should be given to small investors in Bahrain and that, in 
view of their relative rates of return on investment and job 
creation, development of SMEs merited top priority.  Fakhro 
said that approved industrial sector investments in 2004 of 
USD 450 million had doubled in 2005 to roughly USD 900 
million.  He said aluminum, plastics, and petrochemical 
companies saw the majority of this investment and that most 
were SMEs.  He added that further growth could be spurred by 
increased availability of gas.  (Note: Local AmCham President 
and chairman of Al Zayani Investments Khalid Al Zayani told 
the Ambassador that a major factor contributing to the 
increase in investment was that Alba's new leadership had 
taken the decision to switch from exporting all aluminum to 
selling, as supported by demand, to the domestic market.  He 
said he had taken advantage of the sudden domestic 
availability of aluminum product to source a factory of his 
that makes and exports aluminum-based cable.  End Note.) 
 
3. Fakhro said he anticipated the passage of a revised 
Companies Law that would promote commercial development and 
foreign direct investment in Bahrain.  He expected the 
revised law to be copied by Bahrain's neighbors and said he 
hoped it would lead to further commercial development in the 
region. 
 
MONROE