Bahrain is set to invest over $20 billion in industrial, infrastructure projects in the coming years, the country’s Economic Development Board (EDB) has said.
Dr Jarmo Kotilaine, EDB’s chief economist, said the projects include a plan to building 25,000 housing units over the next four years, according to a report in Daily Tribune.
Dr Kotilaine, speaking at the first annual Global Employers’ Summit, said the country’s diversification efforts in non-oil sectors over the past decade are reflected in the most recent growth figures.
“Even as the hydrocarbons sector experiences a decline, headline real gross domestic product expanded by 2.9 percent last year and we continue to project robust growth throughout this year and the next,” he said.
“Bahrain has been a trading outpost along the old Silk Road connecting the Gulf to the world for thousands of years, due to its strategic role as a gateway for mobilising foreign direct investment and trade facilitation between the countries of the Maritime and Continental Silk Road.”For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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