June 18, 2014
Manama: An Economic Development Board (EDB) delegation has today concluded a three day visit to Singapore. During the visit the EDB held a number of high level meetings with government authorities, such as the Singapore Ministry of Trade and Industry and International Enterprise Singapore, a trade promotion agency, to develop further Bahrain’s already strong economic partnership with Singapore. The visit was supported by Infocomm Development Authority of Singapore (IDA), and also included meetings with the Singapore Business Federation.
Meetings were also held with large Singapore-based companies and investors interested in accessing the fast-growing GCC market. At the meetings, Bahrain’s favourable business environment was discussed along with opportunities for Singaporean companies to partner with their counterparts in Bahrain in a number of technology areas, such as eEducation, eHealth and eCommerce. Opportunities in other sectors, such as industrial services, education and healthcare were also discussed.
The delegation was led by Ms. Vivian Jamal, Executive Director, Business Development, EDB, who said:
“It is a great pleasure to be in Singapore and to have had the opportunity to speak with so many Singapore based-businesses about how we can help them to access the $1.5 trillion GCC market. Our region is growing fast and is expected to reach $2 trillion by 2020. There are enormous opportunities for international businesses to access this growth through Bahrain.
“In Bahrain, international businesses will benefit from one of the most connected market in the GCC, with direct air, road, and sea links across the region, especially to Saudi Arabia, the GCC’s biggest market, by a causeway. They will also benefit from a competitive tax regime, tried and tested regulation, which is of the highest international standards, and one of the most highly skilled workforces in the Middle East.”
A number of leading Singaporean businesses have already established offices in Bahrain, including, MTQ Corporation, APL, IBA and Meinhardt. Total goods traded between Bahrain and Singapore has also been steadily increasing in recent years, from $58 million in 2009, to more than $219 million in 2011.
-ENDS-
For Further information please contact:
Economic Development Board
Tel: +973 17589966
Email: nc@bahrainedb.com
