Bahrain foreign investment tops $989m

Experts predict if the trend continues, foreign investment could cross $1bn

Bahrain’s foreign direct investment topped $989 million last year, an increase of 11 per cent on the previous year and outpacing foreign FDI flows of 9 percent, a report has found.

As well, the United Nations Conference on Trade and Development (UNCTAD) World Investment Report 2014 said that FDI into Bahrain in 2012 was $891m, a 14 percent increase on 2011, Gulf Daily News reported.

Experts said if a similar growth trend were to continue this year, the inflows would cross the $1 billion mark.

Last year was the second in a row featuring double digit growth in FDI for the kingdom, since the global economic downturn.

The report also shows that last year Bahrain’s inward FDI as a percentage of gross domestic product  was 55.3 percent, FDI inflows as a percentage of nominal GDP was three percent, and FDI inflows as a percentage of gross fixed capital formation was 15.7 percent - the highest in the GCC.

“Foreign investment continues to help boost private sector growth in Bahrain and provide Bahrainis with new high value-added jobs," Transportation Minister and EDB acting chief executive Kamal Ahmed was quoted as saying.

“This is a strong volume of FDI and, importantly for us, it is also smart FDI that creates sustainable growth and long-term Bahraini jobs.”

The EDB, the agency with overall responsibility for attracting inward investment, announced in January that 35 international businesses had established operations in the kingdom last year as a result of its direct outreach activities alone, GDN reported.

The businesses, from North America, Europe and Asia, will create more than 800 jobs in Bahrain over the course of three years across a range of sectors, including financial and professional services, logistics, manufacturing, healthcare and ICT.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

NOTE: Comments posted on arabianbusiness.com may be printed in the magazine Arabian Business

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Saudi Arabia's new heir leads revolution of powerful millennials

Saudi Arabia's new heir leads revolution of powerful millennials

Why the youngest crown prince in living memory represents a broader...

Three things to watch as Saudi Arabia names new heir to throne

Three things to watch as Saudi Arabia names new heir to throne

Yemen, the Saudi economy and the Qatar-Gulf crisis will be high...

How Mohammed bin Salman rose to become Saudi Arabia's most influential figure

How Mohammed bin Salman rose to become Saudi Arabia's most influential figure

Profile: New heir to Saudi throne holds power beyond his years...

Most Discussed
sponsoredTracking