PHOTO
22 September 2016
Bahrain's Economic Development Board has prioritised tourism, logistics, information technology, manufacturing and healthcare as the key economic sectors for growth.
Around 40 to 50 percent of registered corporate entities in Bahrain are owned by foreign investors, either in the form of full ownership or as part of joint ventures with Bahraini investors, according to an official from the Bahrain Chamber of Commerce and Industry (BCCI).
Mohammad Sajid Izhar Ulhaq, head of the BCCI's Asian Traders Committee said that total number of registered companies in the Gulf state reached around 50,000 this year, according to Bahraini Arabic newspaper Al-Bilad.
While it was not revealed how this figure compares to past year, Izhar Ulhaq said Bahrain's Economic Development Board has prioritised tourism, logistics, information technology, manufacturing and healthcare as the key economic sectors for growth.
The BBCI will organise an investment forum "Re-Invest in Bahrain forum" in the kingdom later this month, starting on September 26. Participants will include 17 Asian embassies, Bahrain's Economic Development Board, Asian investors and expatriate businessmen.
The forum aims to stimulate investment in the kingdom and Izhar Ulhaq said recent legislation which recently approved 50 percent foreign ownership in contracting industries would help stimulate interest from potential investors.
The Gulf state also approved a new law in July this year allowing 100 percent foreign ownership in various sectors as it aims to stimulate its economy and revive investment.
(Writing by Nada Al Rifai)
© Zawya 2016
Bahrain's Economic Development Board has prioritised tourism, logistics, information technology, manufacturing and healthcare as the key economic sectors for growth.
Around 40 to 50 percent of registered corporate entities in Bahrain are owned by foreign investors, either in the form of full ownership or as part of joint ventures with Bahraini investors, according to an official from the Bahrain Chamber of Commerce and Industry (BCCI).
Mohammad Sajid Izhar Ulhaq, head of the BCCI's Asian Traders Committee said that total number of registered companies in the Gulf state reached around 50,000 this year, according to Bahraini Arabic newspaper Al-Bilad.
While it was not revealed how this figure compares to past year, Izhar Ulhaq said Bahrain's Economic Development Board has prioritised tourism, logistics, information technology, manufacturing and healthcare as the key economic sectors for growth.
The BBCI will organise an investment forum "Re-Invest in Bahrain forum" in the kingdom later this month, starting on September 26. Participants will include 17 Asian embassies, Bahrain's Economic Development Board, Asian investors and expatriate businessmen.
The forum aims to stimulate investment in the kingdom and Izhar Ulhaq said recent legislation which recently approved 50 percent foreign ownership in contracting industries would help stimulate interest from potential investors.
The Gulf state also approved a new law in July this year allowing 100 percent foreign ownership in various sectors as it aims to stimulate its economy and revive investment.
(Writing by Nada Al Rifai)
© Zawya 2016
