Wednesday 23 May 2018

Bahrain investment surges 26 per cent

Manama, June 16, 2011

The volume of investments in Bahrain increased by 25.6 per cent over the first three months of this year, compared with the same period last year.

However, the volume of transactions dipped in February and March due to the unrest, the Industry and Commerce Ministry revealed yesterday.

'These results mean that Bahrain has preserved its status as a destination for regional and global investment,' the ministry said in a statement.

It said a report had been submitted to the Cabinet detailing the number of corporate and individual commercial registrations issued and cancelled in the first quarter of this year.

The ministry added an increase in commercial registrations reflected a gradual improvement in the domestic, regional and global economic outlook in the wake of the global financial crisis.

Bahrain also fared well last year, attracting substantial foreign investments despite international economic volatility.

The ministry said joint ventures contributed to a large extent to revitalising the national economy and reducing unemployment in 2010.

According to latest figures, 1,459 new companies and 1,052 new branches were registered last year with the Bahrain Investment Centre.

'The overall capital pumped into these projects topped BD1.770 billion ($4.69 billion),' the ministry said.

According to the survey, 344 companies were registered with foreign capital last year, pumping BD37 million ($98.16 million) into the national economy as Foreign Direct Investment (FDI).

Foreign investors also participated in setting up 538 joint ventures, injecting BD21m into the economy.

Bahrain succeeded in attracting 13 industrial FDI projects, worth BD298.756 million.

These will create 2,912 jobs once operational.

A total of 140 licences with total capital topping BD747m were issued last year and are expected to create 7,000 jobs. – TradeArabia News Service

Tags: Jobs | Cabinet | Manama | Commerce Ministry | Bahrain Investment |

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