Bahrain attracts $290m in direct investment in manufacturing and logistics Bahrain attracts $290m in direct investment in manufacturing and logistics
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Bahrain attracts $290m in direct investment in manufacturing and logistics

Bahrain attracts $290m in direct investment in manufacturing and logistics

The investments are expected to generate more than 1,200 jobs over the next three years

Divsha Bhat
Bahrain

The Bahrain Economic Development Board (Bahrain EDB), supported by Team Bahrain, has attracted $290m (BHD109m) in direct investment during the first three quarters of 2022.

This is by setting up and expanding 25 manufacturing and logistics companies within the kingdom.

The investments are expected to generate more than 1,200 jobs over the next three years.

Companies expanding in Bahrain include FedEx, BASF and Racing Force International. Meanwhile, the new companies entering Bahrain include Bahrain Sugar Refinery, Hoover Circular Solutions, and K.K.C. Industry (iCool).

Ahmed Sultan, executive director – Business Development for Manufacturing and Logistics at Bahrain EDB, said: “We are very pleased to see international manufacturing and logistics companies set up and expand in Bahrain, benefitting from the kingdom’s strategic location, enabling them to tap into $1.67tn GCC market. Manufacturing and logistics are among the priority sectors for us and under the Economic Recovery Plan to support future growth and employment within the kingdom.”

Manufacturing sector is a significant and consistent contributor to the economy, accounting for over 13 per cent of the GDP and a key driver of the kingdom’s economic diversification, sustainability and future success.

Manufacturers and logistics companies enjoy duty free trade through Bahrain’s FTAs with 22 countries around the world, including the first ever US FTA with a GCC member.

Overall, Bahrain EDB attracted $921m (BHD348m) in direct investment from 66 companies during the first nine months of the year.

The investments are expected to generate over 4,700 jobs over the next three years in key sectors, including financial services, ICT, logistics, manufacturing, and tourism.

Read: Bahrain’s Al Waha Fund, Hambro Perks launch HP Spring Studios to support fintech startups

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