Bahrain Investment Park to create 6,000 jobs
Manama, June 29, 2012
Bahrain International Investment Park (BIIP), which has attracted almost $1.5 billion worth of foreign direct and local investment since its establishment in 2005, will create 6,000 jobs within two years as part of expansion plans, said a top official.
BIIP chief Bader Al Saad said 83 projects have been approved by the 2.5 million sq m park, including 15 this year, with companies from Germany, Singapore, France, Saudi Arabia and Bahrain.
BIIP was voted the 15th most popular destination for foreign direct investment (FDI) in the world, number one in Bahrain and seventh in the region by the Financial Times' publication FDI Intelligence.
'More than 40 per cent of our projects are foreign direct investment,' Al Saad said.
'Our target here is to support manufacturing projects. We're also supporting small and medium sized enterprises.'
'Two years ago, we were at 23rd position globally and 10th in the Middle East,' he said. 'It shows how Bahrain is offering many centres for foreign direct investment. The government is offering support for many companies.”
The park provides international services such as information technology projects, back office services and headquarter premises, he said.
'We have the regional headquarters of oil and gas company Matrikon from Canada. Gulf Electronics Management Systems have their back office services here.
'We have companies from Germany, Singapore, France, Saudi Arabia as well as local firms,' he added.
Of the approved projects, 36 are operational and 19 are under construction.
'By the end of the year, more than 40 will be operational,' he added.
The park chief explained that three main criteria determined approval of projects. They must create value-added jobs for Bahrainis, they must be export-oriented and they must be environment friendly,' he said.
He said that they were in contact with several big companies for u per centoming projects in the park.
'At least 78 per cent of BIIP land has been allocated to projects. We are still marketing the other 22 per cent.
'We are hoping that all the BIIP land will be allocated by 2014,' he added.
The Bahrain International Airport and Shaikh Khalifa Bin Salman Port were also featured in the top 20 rankings. – TradeArabia News Service