Bahraini businessmen are pumping money into their own country, in a clear vote of confidence in the economy, it was declared at a major investment forum yesterday (July 1).

Fifty-two per cent of all direct invest in the country is by Bahrainis, said Industry and Commerce Minister Dr Hassan Fakhro.

He was speaking at the opening of the ministry's Invest In Bahrain 2009 Forum, which has attracted more than 450 businessmen from across the region.

This is in spite of the fact that Bahrain has been open to 100 per cent foreign ownership of businesses for years.

'I put a lot of stock in the fact that Bahrainis themselves are the main investors in Bahrain,' said Dr Fakhro.

'I interpret (this) to mean that Bahrainis are confident in their own economy and this should be a welcoming sign for potential foreign investors.'

The private sector is the driving force of the economy, he said at the one-day event at the Bahrain International Exhibition and Conference Centre.

'Our private sector is simply more plugged-in, if you will, to the economic and social development process and as a consequence is able to influence government policies, which are in any event focused on supporting private sector growth, and in particular on developing current industrial capacity,' said Dr Fakhro. – TradeArabia News Service