FDI Flow of $810 Million Into Bahrain Signals for a Hiring Boom

      Published on Saturday, 10 November , 2018      30 Views      Comments Add Comment
FDI Flow of $810 Million Into Bahrain Signals for a Hiring Boom

  • Bahrain News

Bahrain has attracted a record number of investments this year as businesses from around the world continue to look to the kingdom to access opportunities in the $1.5-trillion Gulf economy,



the Bahrain Economic Development Board (EDB) has said.

In the first nine months of 2018, foreign direct investment (FDI) inflows into the kingdom increased by 138 per cent compared to the same period of last year.

This year, Bahrain EDB has already attracted a total of 76 companies, accounting for an investment of BD305 million ($810 million),

breaking the 2017 record of 71 companies, and a total investment of BD 276 million ($733 million), the EDB said.
The FDI attracted in the first nine months of 2018 was more than five times of the total attracted in 2015. This strong growth has come in spite of a challenging global environment for FDI, with global FDI flows falling 23 per cent in 2017, the EDB said.
Investments in 2018 are expected to generate more than 4,200 jobs over the coming three years, of which more than 1,100 will be high-quality jobs (defined as providing a basic monthly salary of more than $1,850).
The investments cover many sectors with manufacturing and logistics accounting for the majority with 31 companies, including Ariston Thermo and Mueller (a copper tube manufacturer).  A total of 15 companies were attracted in tourism, real estate, education and healthcare, ICT and FS. They include Al Sahel Resort, Flat6labs, Nest, Bank of Jordan, NFT Ventures, and Thales (a specialised aerospace and security company).
Khalid Al Rumaihi, chief executive, EDB, said: “We continue to see strong interest towards the GCC opportunity, and our unique Team Bahrain approach provides the means to unlocking these opportunities. The region’s potential is rising with solid investments and a growing number of high-quality jobs for Bahrainis.
“While we are excited by this success, we will continue to look towards new initiatives to enhance FDI even further. The kingdom is introducing a number of key regulatory reforms in the coming months, which will ensure it remains competitive and business friendly.”
Among the most prominent developments during 2018 has been the advancement of the FinTech ecosystem, with the launch of Bahrain FinTech Bay, the largest fintech hub in Mena; the establishment of a $100 million Fund of Funds to help fund start-ups across the Middle East; and  a growing interest in the Central Bank of Bahrain’s regulatory sandbox.
Additionally, Site Selection magazine has named Bahrain as the best place to invest in the Middle East and Africa per capita for the third year in a row. It has also named the EDB as one of the top investment promotion agencies of 2018.
The kingdom also saw several major announcements earlier this year during the Gateway Gulf Investor Forum, which brought together over 850 global investors and business leaders to explore ways of unlocking the opportunities being created by the economic transformation in the GCC.
The event provided a direct route into accessing the GCC market by showcasing major investment-ready projects worth $18billion, with projects in the planning phase driving up the value of the project pipeline to $26 billion, EDB said.
Keywords:
Category Bahrain News | 2018/11/10 latest update at 1:50 PM
Source : Albawada | Photocredit : Google
31 Views
Comments Add comment



Related Articles

The editorial staff of Bahrain Today would like to give all of its readers from Gulf and Bahrain and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Bahrain Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Bahrain, the Gulf and the world.

Latest Comments


Bahrain delays auction of $46m stalled Amwaj Gateway
Bahrain Bahrain news

Bahrain delays auction of $46m stalled Amwaj Gateway

The much-awaited auction of Bahrain’s stalled Amwaj Gateway mixed-use real estate development has been postponed until 2019. Bahrain’s Judicial Committee…

Microsoft ecosystem to generate 5,600 jobs in Bahrain by 2022

Clean up underway after massive Kuwait floods

SaudiGulf signs $2.1bn deal for 20 A320neo aircraft

Khalifa Bin Salman in the People’s, Nation’s Memory book launched King

Khalifa Bin Salman in the People’s, Nation’s Memory book launched

Yousef Al Hamdan, the author of ”Khalifa Bin Salman in the Memory of the People, Nation” has launched…

King congratulates Abu Dhabi Crown Prince King

King congratulates Abu Dhabi Crown Prince

His Majesty King Hamad bin Isa Al-Khalifa sent a cable of congratulations to His Highness Shaikh Mohammed bin…

Bahrain’s king issues new laws to boost investment eco-system King

Bahrain’s king issues new laws to boost investment eco-system

Bahrain’s King Hamad bin Isa Al Khalifa has issued orders for new laws to enhance the country’s investment…

HM King congratulates Vietnamese president King

HM King congratulates Vietnamese president

His Majesty King Hamad bin Isa Al Khalifa today sent a cable of congratulations to President Tran Đai…

GULF TV

Popular in GULF TV

ELECTIONS 2018 | THE FIRST ROUND | PART 02

88 Views

ELECTIONS 2018 | THE FIRST ROUND | PART 02

Latest videos in GULF TV

Events

Bahrain events

Lifestyle

Culture

Bahrain Culture, Bahrain, Bahrain News

Sport

Science & Technology

Government

Bahrain Government, Bahrain Government News, Bahrain News, Gulf News, News, Bahrain News