November 24, 2014
Manama, Economic Development Board, 24th November 2014: A new report released by KPMG concludes that Bahrain has one of the lowest costs of operating a financial services business in the GCC region, with the average cost of key aspects such as licensing and registration, commercial rental rates, manpower costs, and communication and utility expenses, being significantly lower.
Kamal bin Ahmed, Minister of Transportation and Acting Chief Executive of the Economic Development Board (EDB), said: “The report’s findings reflect the Kingdom’s competitive advantage and the strong fundamentals of its investment environment. Bahrain continues to offer investors an opportunity to access the region through a business environment that has low operating costs, a highly skilled local workforce and a strong regulatory environment.”
Nael Nasr, Head of Management Consulting for KPMG in Bahrain added “The Gulf economies are expanding at a rapid pace and with this local, regional, and international businesses are seeking to build and expand their presence in the GCC. It’s essential for these businesses to choose a location that offers the right platform for sustainable growth, and this report highlights that the Kingdom of Bahrain offers both a very competitive cost environment and an attractive local labor pool.”