Bahrain calling

Bahrain is fast becoming a regional financial powerhouse, attracting some of the biggest global corporate names and calling the shots in the race to become the definitive destination for international investment.

Over the last five years Bahrain has been transformed into a globalised Gulf state that boasts a multitude of attractions for companies eyeing a base in the region.

The result has been an economic boom that has grasped the attention of some of the top investment and financial companies around the world.

"The continuity of the current economic boom in Bahrain is determined by our success as investors, alongside the government, in creating economic vehicles capable of development," says Ahmed Al Amir, president of the board at Gulf Holdings.

Meanwhile Essam Janahi, chief executive of Gulf Finance House, insists that the Bahraini market has become a stage for big investment opportunities, which is confirmed by the staggering number of sealed investment deals.

Janahi believes this is largely due to the public sector, which has shown flexibility and dynamism in containing economic change, as well as responding with the efforts of the Bahraini government to create an attractive investment environment.

Janahi adds that the sectors that have attracted most capital have been finance, real estate and commercial industry.

"Since as far back as the beginning of the 60s, Bahrain has been determined to put in place all the necessary requirements to help transform it into a commercial, financial, and tourism hub and a global financial market," he suggests.

"And so it set out to build its primary structures and provide numerous vehicles and regulations to support this goal.

It started by changing laws, lifting restrictions on investment, allowing absolute freedom when it comes to the flow of capital, and finally providing security and stability for business to flourish.

That same spirit can be seen four decades on with the arrival of Bahrain Financial Harbor as a regional commercial hub that has transformed the Gulf's financial offering.

"The Bahrain Financial Harbour has succeeded in embodying a modern Gulf and Arabic economic vision for the financial, banking, real estate and insurance sectors," he continues.

The harbour presents a suitable financial environment that offers indispensable services for organisations and companies working in the kingdom.

With a total investment that exceeds US$1.5bn, this landmark has been able to completely transform the financial and investment sectors as well as all the complimentary financial and banking bodies operating under it.

Yousef Al Issa, CEO of Addax Bank, sees Bahrain as a country that stands out in the region as a result of its strategic location in the Arabian Gulf.

"Today, the kingdom has made big strides towards preparing its national economy to meet global changes by developing its infrastructure, and elevating the quality of its services for local and international investors," he argues.

READERS' COMMENTS

MORE FROM ARABIANBUSINESS.COM