Manama, Bahrain: The Bahrain Economic Development Board (EDB) announced during its Board Meeting that it attracted 134 companies in 2019, expected to result in a total investment of US$835 million. That investment is projected to create more than 6000 jobs in the local market over the next three years.
The investment was made in a number of sectors, including: financial services, information and communication technology (ICT), manufacturing and logistics, real estate, tourism, education, and healthcare. The companies were from a number of countries including Kingdom of Saudi Arabia, the United Arab Emirates, Kuwait, France, India, Japan, the United Kingdom and Hong Kong.
According to estimates by the Ministry of Finance and National Economy, Bahrain’s real GDP was forecast to increase by 2.1% in 2019. Non-oil growth was also forecast to grow by 2.3% due to the improved performance in a number of sectors, including manufacturing, financial services, and transport & communications. The oil sector was forecast to grow at 1.4%.
H.E. Khalid Ebrahim Humaidan, Chief Executive of the EDB, said, “we are always excited to see new companies launch operations in Bahrain, one of the leading investment destinations in the Gulf. Companies will find that we have an ideal investment climate, boasting some of the region’s most competitive costs and skilled workforces, allowing businesses to thrive. As we enter 2020, we look forward to seeing even more growth in our non-oil sectors as the Kingdom continues its diversification efforts.”
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For more information, please contact:
Communications and Media Department
Economic Development Board
Phone: +973 397 989 19
E-mail: internationalmedia@bahrainedb.com
About Bahrain Economic Development Board
The Bahrain Economic Development Board (EDB) is an investment promotion agency with overall responsibility for attracting investment into the Kingdom and supporting initiatives that enhance the investment climate.
The EDB works with the government and both current and prospective investors, in order to ensure that Bahrain’s investment climate is attractive, to communicate the key strengths, and to identify where opportunities exist for further economic growth through investment.
The EDB focuses on several economic sectors that capitalise on Bahrain’s competitive advantages and provide significant investment opportunities. These sectors include financial services, manufacturing, ICT, tourism, logistics and transport.
For more information on the Bahrain EDB visit www.bahrainedb.com; for information about Bahrain visit www.bahrain.com.
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