The main entrance of Bahrain FinTech Bay office is seen in Bahrain Bay. (Reuters)
Bahrain EDB has attracted a record number of investment as businesses from around the world continues to look to Bahrain to access the opportunities in the $1.5tn Gulf economy.
According to Bahrain Economic Development Board (Bahrain EDB), in the first nine months of 2018, FDI inflows increased by 138% when compared to the same period of last year.
This year, Bahrain EDB has already attracted a total of 76 companies, accounting for an investment of $810 million, breaking the 2017 record of 71 companies, and a total investment of $733 million.
The FDI attracted in the first nine months of 2018 was more than five times of the total attracted in 2015. This strong growth has come in spite of a challenging global environment for FDI, with global FDI flows falling 23% in 2017.
Investments in 2018 are expected to generate more than 4,200 jobs over the coming three years, of which more than 1,100 will be high quality jobs (defined as providing a basic monthly salary of more than $ 1,850).
The investments overall cover all sector focuses with Manufacturing and Logistics accounting for the majority of investment with 31 companies including Ariston Thermo and Mueller (a copper tube manufacturer).
A total of 15 companies were attracted in Tourism, Real Estate, Education & Healthcare, ICT and FS. Some of which include Al Sahel Resort, Flat6labs, Nest, Bank of Jordan, NFT Ventures, and Thales (a specialized aerospace and security company).