Bahrain secures record US$1.95 billion in FDI inflows by 2022, UN report says
MANAMA, Bahrain, July 7, 2023 /PRNewswire/ -- With a new record, Foreign Direct Investment (FDI) inflows into Bahrain increased by US$1.95 billion in 2022, while global FDI fell 12%, according to the latest World Investment Report (WIR 2023) of the United Nations Conference on Trade and Development (UNCTAD).
Commenting on this milestone, H.E. Khalid Humaidan, CEO of the Bahrain Economic Development Board, said: "This milestone of nearly US$2 billion in FDI inflows reflects the strong level of investor confidence in Bahrain's value proposition, which encourages local and international markets backed by a highly qualified labor force and operating costs with the best value for money that serve as a gateway to the region".
The CEO added: "This record rise in FDI inflows is supported by the Bahrain team's quick agility in successfully driving strong investments and securing value-added projects in priority sectors. I am confident in our ability to maintain a strong portfolio." investment in 2023 and beyond".
Bahrain has made commendable progress in diversifying its economy, increasing opportunities for local and international businesses and maintaining investor confidence, as well as steadily increasing FDI inflows into the kingdom.
While economic diversification efforts have long been underway in Bahrain, the Economic Recovery Plan (ERP) formed in 2021 encompassed a focused development plan with the overall goal of enhancing Bahrain's competitiveness internationally through reorganization of the economy's priorities and highlighting strategies in high-value sectors.
To ensure that the kingdom remains an attractive destination for investment, Bahrain has recently launched the Golden License and maintains an ongoing commitment to streamline business procedures on the regulatory front, further boosting Bahrain's business-friendly environment.
The full version of the UNCTAD World Investment Report 2023 can be found at the following website https://unctad.org/publications
Acerca de Bahrain Economic Development Board (Bahrain EDB)
Bahrain EDB is an investment promotion agency whose overall responsibility is to attract investment to the kingdom and support initiatives that improve the investment climate.
Bahrain EDB works with the government and current and potential investors to ensure that Bahrain's investment climate is attractive, communicate key strengths and determine where opportunities exist for further economic growth through investment.
The Bahrain EDB focuses on various economic sectors that take advantage of Bahrain's competitive advantages and offer significant investment opportunities. These sectors include financial services, manufacturing, logistics, ICT and tourism.
For more information about Bahrain EDB visit www.bahrainedb.com
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