Manama: 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.
The delegation was introduced to the Kingdom’s economic fundamentals and competitive advantages, including the diversification of its economy and its economic freedom, by EDB officials, who presented the key factors which have led to the Kingdom ranking highly on a number of international indices dealing with global competition.
EDB officials also highlighted the various opportunities available to foreign investors and companies looking to launch operations in the Kingdom, including the highly skilled national workforce, relatively low cost of living, and high human capital development, which leading international companies and investors have utilised in the past to launch operations in Bahrain, making the Kingdom an ideal base of operations from which to access the neighboring GCC markets.
Additionally, EDB officials explained the Economic Development 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.
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