Investment in Bahrain grows amid global crisis

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BUCKING DOWNTURN: Bahrain, and its capital city of Manama (pictured) are bucking the global crisis, according to latest figures. (Getty Images)

The volume of Bahrain's investment capital has soared by 22.3 percent to top BD15.3 billion ($40.5bn), it has been revealed.

New figures were released by Industry and Commerce Minister Dr Hassan Fakhro at a cabinet meeting on Sunday which also showed that the number of commercial registrations had increased by nine percent as the Gulf nation bucked the global economic gloom.

The report also revealed a fall in the number of commercial violations, Gulf Daily News reported on Monday without giving further details.

Separately, the UK's Secretary of State for Business, Enterprise and Regulatory Reform, Lord Peter Mandelson, said the worst of the global economic crisis could be over by the end of the year in a speech in Bahrain.

However, he said urgent steps were required to ensure countries were able to recover from the downturn and the resulting recession.

Lord Mandelson was speaking at Bahrain International Airport during a whistle-stop trip to Manama on Sunday during which he met King Hamad, Prime Minister Sheikh Khalifa bin Salman Al Khalifa and Crown Prince and Deputy Supreme Commander Sheikh Salman bin Hamad Al Khalifa.

Lord Mandelson praised British relations with Bahrain and said the country could play a key role in helping solve the global credit crunch.

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