Bahrain FDI inflows soar 138% so far in 2018

Bahrain posted record foreign direct investment inflows of $810 million in the first three quarters of 2018, a 138 per cent rise on a year earlier, according to official statistics.

Total FDI inflows for the period surpassed the previous record of $733m in 2017 and were more than five times the figure in 2015, Bahrain Economic Development Board, the government’s inward investment agency, said yesterday.

“The region’s potential is rising with solid investments and a growing number of high-quality jobs for Bahrainis,” said Khalid Al Rumaihi, chief executive of Bahrain EDB.

“The kingdom [of Bahrain] is introducing a number of regulatory reforms in the coming months, which will ensure it remains competitive and business-friendly.”

Bahrain ranked 66th out of 190 countries in the World Bank’s 2018 Ease of Doing Business report. FDI investments this year are expected to create more than 4,200 jobs as the Arabian Gulf state attracts companies in the manufacturing and logistics, and FinTech industries, Bahrain EDB said.

A total of 76 companies invested in Bahrain in the first three quarters of 2018, compared to 71 a year earlier. Notable deals included Ariston Thermo and Mueller, a copper tube manufacturer, as well as companies including Al Sahel Resort, Flat6labs, Nest, Bank of Jordan, NFT Ventures, and security company Thales.

Bahrain also announced the launch of Bahrain Fintech Bay this year, one of the largest FinTech hubs in the Middle East and North Africa.