BAHRAIN yesterday unveiled a blue print to attract local, regional and international investments in major industrial projects in the presence of 600 top investors, businessmen and the government officials from across the GCC.
The investment sector grew 400 per cent in the last three years and the Kingdom is keen to maintain its leading position at the top among the Arab world in foreign direct investment (FDI) as well.
Bahrain has been ranked the best among all Arab countries for its FDI performance by the UNCTAD’s World Investment Report 2005, with total foreign investments of $865m in 2004. Bahrain has been declared third among all Arab countries for its potential FDI performance.
The one-day forum organised by the Ministry of Industry and Commerce titled “Invest Bahrain” was addressed by the Minister of Industry and Commerce, Dr. Hassan Abdullah Fakhro; Minister of Finance, Shaikh Ahmed bin Mohammed Al Khalifa; the EDB CEO, Shaikh Mohammed bin Isa Al Khalifa and the BMA Governor Rashid Al Maraj. The forum was also addressed by Chairman Bahrain Chamber of Commerce and Industry Khalid Mohammed Kanoo and the Chairman Bahrain Businessmen’s Association, Khalid Almoayyed.
The Ministry of Finance, the Economic Development Board and other government agencies conducted separate presentations highlighting the Kingdom’s major initiatives.
“Bahrain’s investment climate and regulatory framework work are offering equal opportunity of growth and development to investors. Kingdom’s successful policies, congenial investment environment and effective regulations have helped to stimulate the local, regional and international investments,” the Minister said.
Dr. Fakhro also highlighted the potential of growth in various projects offering investment opportunities in existing projects with investment ranging from BD 500,000 to BD 38.5m in all vital sectors.
The aluminium, plastic, oil, leather and home accessories sectors were explained to the investors through presentations.
The Minister of Finance said that the government would continue to provide equal opportunities to the private investors. Kingdom’s major initiatives aimed at attract more foreign investments he said that the efficient commercial registration system for new businesses, transparency and new regulations have helped the Kingdom to become as a center of choice for the foreign investors,” Shaikh Ahmed said.
Last update on: 2-10-2005