Bahrain poised to invest $20bn in new projects

Economic Development Board says the plan includes construction of 25,000 houses in Gulf kingdom
Bahrain poised to invest $20bn in new projects
Bahrain World Trade Centre, Bahrain economy, Bahrain skyline, Bahrain business
By Staff writer
Thu 08 Oct 2015 02:09 PM

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.”

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