The Bahrain Economic Development Board (EDB) continued its efforts in promoting the Kingdom and driving foreign direct investment through a series of international meetings in Q4, 2014. These meetings targeted a number of sectors in multiple markets, and highlighted the Kingdom’s competitive advantages and opportunities provided by its open economic environment. Also explored were various means of potential cooperation between local companies and foreign investors.
Business Delegation visits Japan and South Korea to meet with companies in the ICT sector:
The Bahrain Economic Development Board (EDB) organised a visit to Japan and South Korea where EDB officials hosted a number of meetings and seminars, shedding light on the Kingdom’s competitive advantage, and introducing leading businessmen and women to the opportunities available in the ICT sector in order to promote potential partnerships between local companies and companies from Japan and South Korea.
This visit follows a recent MOU signing by the EDB and the Japan Information Services Association (JISA) in September, which aimed at strengthening the cooperation between both sides in order to enhance bilateral relations and the exchange of technical information in the ICT industry in both countries. It also provided the necessary framework for developing joint projects and activities.
The seminar, which was attended by around 50 JISA members, presented the opportunities available to foreign investors in Bahrain, including the highly skilled national workforce, relatively low cost of living, and high human capital development, along with the Kingdom’s high ranking in many leading international indices, many of which leading international companies and investors have benefited from in order to access the fast growing GCC market.
While in Korea, the EDB, in collaboration with Korea Chamber of Commerce and Industry (KCCI), organised a seminar introducing regional opportunities to Korean ICT companies. Around 65 people from over 45 companies attended the event which included an analysis of case studies of successful Korean investments in Bahrain, including LG CNS who showcased their experience working on the Business License Information System (BLIS) project with the Bahrain eGovernment.
EDB officials brief French delegation on opportunities in the Kingdom:
Officials from the Bahrain Economic Development Board (EDB) met with a visiting French delegation from the city of Schiltigheim, who visited the Kingdom as part of a weeklong exploratory visit where they met with members of the public and private sector.
During a visit to the EDB, the French delegation learned about the investment opportunities that Bahrain offers, as well as the economic strengths of the Kingdom which include a free economy, modern infrastructure, highly skilled local workforce, and its proximity to the GCC market – factors that secured the Kingdom’s prominent ranking as a competitive economy, and which have led to the launch of a number of foreign companies in the Kingdom.
EDB Officials Brief Mauritius delegation on Bahrain’s Economy:
A business delegation from Mauritius met with officials from the Economic Development Board (EDB) to discuss business opportunities in the Kingdom. The delegation, led by Mr. Ashween K. Bunwaree, Ag. Senior Manager of Operations at Enterprise Mauritius, were introduced to the Kingdom’s economic fundamentals and competitive advantages, including the diversification of its economy and its economic freedom. A presentation by EDB officials also highlighted the various opportunities available to foreign investors and the key factors that makes it a preferred location to do business. The delegation represented various sectors including the food sector, textiles, furnishing and jewellery.
Delegation from Bilateral US – Arab Chamber of Commerce Visits Bahrain, discusses role of EDB in attracting foreign investment.
Officials from the Economic Development Board (EDB) met a delegation from the Bilateral US – Arab Chamber of Commerce, who visited the Kingdom as part of a GCC tour. The US Delegation was led by Chairman of the Board, David L. Phillips, and consisted of 19 businessmen and women representing the energy sector.
Along with presentations on the Kingdom’s key competitive advantages, EDB officials also explained the Board’s role in assisting companies looking to invest in the Kingdom, and its role in driving foreign direct investment into the country, through various targeted sectors, including ICT, logistics and transport sectors, as well as the financial services sector and its key sub-sectors.
The Chamber was created in 1997 and is comprised of a number of leading businessmen and women. It looks to build on strategic relations between key decision-makers in the US and the MENA region, in order to promote mutual economic growth. The Chamber consists of a number of representatives from private sector companies, thought-leaders, and academic institutions from various industrial sectors in the United States and the MENA region.
The Bahrain Economic Development Board hosts a delegation of journalists on the sidelines of the ARABAL conference:
The Economic Development Board (EDB) hosted a delegation of journalists from Germany on the sidelines of the Arab International Aluminum Conference (ARABAL). This comes as part of the EDB’s efforts to promote investment opportunities in the Kingdom and further strengthen bilateral ties between the two nations.
The journalists and editors represented a number of high profile German publications including Aluminum Praxis, International Aluminum Journal, & Metall- Journal of Metallurgy. The trip followed a historic visit to Germany lead by His Majesty King Hamad bin Isa Al Khalifa in 2008, and the visit of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, First Deputy Prime Minister and Chairman of the EDB to Germany in 2011, and further reiterates the strong bilateral relations between the two countries.
Also participating in the ARABAL conference during a panel discussion was Dr. Jarmo Kotilaine, Chief Economist at the EDB, who shed light on the importance of the Aluminum sector to the Kingdom, and the recent developments and growth in downstream manufacturing.
The visit included meetings and interviews with a number of public and private sector representatives, including meetings with EDB officials, Aluminum Bahrain (ALBA), the Bahrain International Investment Park (BIIP), Midal Cables, and Garmco. Additionally, the journalists were also given the opportunity to experience Bahraini culture though a visit to the Bahrain Fort.