Under the patronage of H.E. Jameel Ben Mohamed Ali Humaidan: talabat announces the establishment of one of the largest regional local shared services centers in Bahrain, providing 1,000 jobs in Bahraini’s

Talabat Press Conference
  • This is a result of a joint initiative between talabat, Ministry of Labor and Social Development, Tamkeen and the Bahrain Economic Development Board
  • The center will generate 1,000 employment opportunities for Bahrainis over two years with the support of tamkeen.
  • The center will serve talabat customers in the region

Manama, Kingdom of Bahrain — ** March, 2022: talabat, the region’s leading local tech organization, today announced in a press conference under the patronage of H.E Jameel Bin Mohamed Ali Humaidan; Minister of Labour and Social Development, the establishment of one of the region’s largest shared services centers, which will be based in Bahrain, with the support from Tamkeen and Bahrain Economic Development Board (EDB).

The announcement was made during a press conference attended by H.E. Jameel Humaidan Minister of Labour and Social Development, H.E. Khalid Humaidan CE of Economic Development Board, Mr. Husain Rajab CE of Tamkeen, Mr. Tomaso Rodriguez CEO of talabat MENA, and Mr. Hesham AlSaati Managing Director of talabat Bahrain.

The center will provide exceptional customer service to talabat customers in the GCC region, in both Arabic and English, along with providing technical support around the clock to vendors available on the platform. This is a result of a joint initiative between talabat, Tamkeen and the Bahrain Economic Development Board and it will generate 1,000 employment opportunities for Bahrainis over a 24 months period with 400 jobs to be filled as soon as July 2022. This will include several administrative, supervisory and leadership positions in the areas of customer service, quality assurance, and training.

This center will provide attractive opportunities for Bahraini graduates in the technology sector, as talabat is one of the largest companies operating in this field in the region. In addition, it will provide an opportunity to gain experience in dealing with clients from all over the region, and provide equal opportunities for training and development for all employees.

H.E Mr. Jameel Ben Mohamed Ali Humaidan, Minister of Labour and Social Development congratulated “talabat” on launching its local shared services center to support their clients and stakeholders, which will provide many jobs with progressive career plans, and assured that launching this center reflects the success of the Kingdom of Bahrain to attract more foreign investments due to its stimulating investment environment.

He highlighted that the establishment of this center is part of talabat’s efforts to expand its business in Bahrain and providing more jobs for the locals, as the organization is creating 400 jobs this year, and 1000 jobs in total by the end of 2023 in different positions, praising the efforts of the company in employing citizens, highlighting the high percentage of Bahraini management at the company as it has reached 100%.

H.E. Mr. Jameel Humaidan also highlighted all the incentives that the Ministry of Labour and social development provides to the private sector specifically to employ Bahrainis, emphasizing that the national talents have proven themselves as one on the main elements of companies development and profitability, due to the high efficiency of the Bahraini staff and their perpetual quest for personal development.

Tomaso Rodriguez, CEO of talabat said: “We selected Bahrain as the ideal place to launch our customer service center because of the talented pool of qualified and creative talent, along with the Kingdom’s attractive investment environment. We are heavily invested in Bahrainisation, with above 70% of our office employees being Bahraini, and we are proud to grow the technical expertise of the Kingdom’s youth.”

“From an investment perspective, Bahrain’s business friendly environment would support our growth and development plans.”

Hesham Al Saati, Managing Director at talabat Bahrain also expressed his pride in bringing this project to the Kingdom.

“It is our pleasure to establish one of the largest regional local shared services centers in Bahrain. Bahraini youth have proven to have an energy capable of excelling in the technical areas, and we are confident that this move will help talabat in its efforts to provide a higher quality service to our customers and vendors” Al Saati added.

“The technical sector is growing worldwide, and in Bahrain in particular launching this center will contribute to increasing this prosperity, diversifying and increasing the expertise in the technical field among Bahraini youth,” he said.

H.E. Husain Mohamed Rajab, said: “Tamkeen is fully committed to realizing its key objectives, including making Bahrainis the preferred choice for private sector employment and making the private sector the engine of economic growth. We work very closely with all our partners in the Team Bahrain ecosystem to encourage and incentivize employment, training and investment across all sectors, with a great focus on high-potential sectors. We welcome Talabat’s expansion in Bahrain and their great commitment to supporting employment and growth for Bahrainis over the long-term.”

Bahrain EDB CE, H.E Khalid Humaidan said: “This project is aligned with the Kingdom economic recovery plan and its pillars as it will generate employment and training opportunities in Bahrain. This also reflects our ability in Bahrain to provide professional services at a regional and a global level.” 

talabat is the leading food delivery and q-commerce platform in the region, with over 25,000 vendors and nearly 50,000 branches of these brands throughout the region. The company operates in Bahrain, Egypt, Jordan, Kuwait, Oman, and Qatar, in addition to the United Arab Emirates.

talabat continues its continuous endeavor to provide more opportunities for Bahraini youth in the company, as it plans to offer 500 jobs in the logistics sector, which will make the total jobs created by talabat for Bahrainis is 1500 by the end of 2023.

Customers can download the talabat app from Google Play Store the iOS App Store, and Huawei App Gallery.

– ENDS –

About talabat

When you think of food delivery in the MENA region, we’d be pretty surprised if talabat didn’t pop into your mind first! Since delivering our first order in Kuwait in 2004, we’ve grown quite a lot over the past 17 years into the leading local tech platform in the region.

We deliver hundreds of millions of food orders, grocery items and other products per year, to our customers in nine countries throughout the region. Our food delivery business works with well over 25,000 brands and almost 50,000 branches, while our q-commerce concept, talabat mart, now delivers groceries to customers in Bahrain, Egypt, Jordan, Kuwait, Oman Qatar, and the UAE in many cases, 20 minutes or less!

Our customers, our partners, our people, our riders, and the communities in which we operate are at the heart of what we do. In 2021 alone, we facilitated the donation of well over 900,000 meals to those in need, as well as donated over 2.2million dollars to charity with the help of our partners and customers. talabat is part of Delivery Hero, the global leader in online food delivery and q-commerce.

Binance awarded crypto-asset service provider license in the Kingdom of Bahrain

Binance, the world’s leading blockchain and cryptocurrency infrastructure provider, today announces that it has been granted a crypto-asset service provider license from the Central Bank of Bahrain (CBB). This landmark achievement for Binance represents its first license as a crypto-asset provider in The Cooperation Council for the Arab States of the Gulf (GCC) and demonstrates its commitment to being in regulatory compliance as the first of its group of companies in the region.

Changpeng Zhao (CZ), founder and CEO of Binance, said: “The license from Bahrain is a milestone in our journey to being fully licensed and regulated around the world. I would like to thank Team Bahrain, guided by the visionary leadership of HRH Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, for the great work in facilitating this achievement. Team Bahrain has shown considerable foresight in its development of crypto regulations and provides the regulatory protections that consumers should come to expect from regulators around the world.

I’m proud of the hard work of the Binance team to meet the stringent criteria of the Central Bank of Bahrain, not just locally but globally by ensuring that we meet and exceed the requirements of regulators and protect users with strong anti-money laundering and counter-terrorism financing policies.”

The crypto-asset license will allow Binance to provide crypto-asset trading, custodial services and portfolio management to customers under the supervision of the Bahrain regulators.

HE Rasheed Al Maraj, Governor of the Central Bank of Bahrain commented: “Developing regulations aligned with global trends is a key objective for us at the CBB. We continue to work with partners and industry leaders such as Binance to develop regulations that enable innovation and best practices.”

Khalid Humaidan, CEO of the Bahrain Economic Development Board (EDB) added: “Team Bahrain has built a world-class infrastructure to support the fast-growing blockchain and crypto industry, with robust regulations and diverse talent within the financial services, fintech and technology sectors. Collaboration with industry leaders such as Binance will further enhance our mission to establish the Kingdom of Bahrain as a leading business hub.”

Bahrain among top 15 markets worldwide in the Agility Emerging Markets Logistics Index

The Kingdom of Bahrain ranked 15th overall among the world’s most competitive emerging markets and fifth in the area of business fundamentals, according to the 2022 Agility Emerging Markets Logistics Index.

The Index ranks 50 countries by factors that make them attractive to logistics providers, freight forwarders, shipping lines, air cargo carriers, and distributors. It measures logistics performance based on multiple areas: (1) Business Fundamentals, (2) Domestic Logistics Opportunities, (3) International Logistics Opportunities, (4) and Digital Readiness.

Gulf countries dominated in the area of business fundamentals, with the UAE ranking first, followed by Saudi Arabia which ranked third. Bahrain followed, jumping two spots from last year to rank 5th.

According to the report, “Bahrain offers free zones across a range of manufacturing sectors as well as 100% foreign ownership of enterprises. The country also plans to attract more manufacturers to its shores with investment to boost the production of aluminium, petrochemicals and renewable energy as part of its 2022-2026 economic recovery plan.”

Ahmed Sultan, Executive Director of Investment Development – Manufacturing, Transport, and Logistics at Bahrain EDB, commented, “In parallel with the economic recovery plan, our aim is to increase the logistics sector’s contribution to 10% of the country’s GDP, by leveraging Bahrain’s strong infrastructure and further expand our logistics offering. We aim to continue promoting Bahrain’s strategic location, FTAs, and business-friendly environment to attract more manufacturers and logistics service providers.”

Over recent years, Bahrain has emerged as the most efficient and cost-effective logistics gateway in the GCC, offering 45% operational cost savings compared to neighbouring countries as well as the shortest transit time between seaport, airport and logistics zones. Now, Bahrain’s National Logistics Strategy, as part of a wider Economic Recovery Plan, aims to increase the sector’s GDP contribution and rank it amongst the top 20 logistics hubs globally.

Key projects of the logistics strategy include Bahrain’s Global Sea-to-Air-Hub, the fastest in the middle east, leading to 40% cost savings and a 50% reduction in average lead time, creating a real opportunity not only for global logistics companies but also for e-commerce and fulfillment operators.

Bahrain ranks 1st in MENA for financial, investment, and trade freedom according to the Heritage Foundation Index

According to the 2022 Index of Economic Freedom published by the Heritage Foundation, Bahrain ranked first in MENA for financial, investment, and trade freedom. Amongst MENA countries, Bahrain ranked 4th for overall economic freedom.

According to the report, Bahrain’s “overall investment framework remains transparent, and foreign and domestic investors are treated equally. The financial system remains vibrant and generally free from government involvement. No restrictive measures have been implemented in the banking sector during the past year,” and “the government maintains a pro-business commercial environment and supports business start-ups.”

The 2022 Index of Economic Freedom measures the level of economic freedom based on 12 factors, grouped into four categories: rule of law, government size, regulatory efficiency, and open markets. 

Commenting on the report, Ali Al Mudaifa, Chief Investment Officer at Bahrain EDB, said: “Bahrain’s high ranking amongst countries in the region is a reflection of the country’s business-friendly environment and forward-looking regulations. We’ve got exciting plans ahead of us in line with the Economic Recovery Plan, which aims to attract investments worth US$2.5 billion into the country by 2023 through the enhancement of our overall business environment.” Companies in Bahrain benefit from a range of competitive advantages and opportunities, which can be identified and leveraged with the support of the EDB’s team that has the expertise and resources to get companies off the ground. These competitive advantages include the country’s 45% operational cost savings compared to the rest of the region, and its pioneering regulation, which is reflected by Bahrain ranking 2nd globally for tax burden in the 2022 Index of Economic Freedom.

Tap Payments grows client base by 60% in a year as global firms seek to tap into Gulf’s $29bn e-commerce boom

  • GCC-based fintech, launches in Bahrain to expand its regional operational hubs in the MENA region.
  • Enables 80% of the region’s consumer payments through highly adopted country specific local payment networks with a unified relationship, technology and clearing process.
  • Resolves the challenges of the region’s fragmented payment networks so international players may unlock the true potential of MENA’s ecommerce market.

The GCC-based fintech company, Tap Payments, has launched its Bahrain hub in 2020. Over the past year, the company has onboarded around 30,000 new merchants across the region. This is a result of the company’s innovative solutions that can cater to regional and international players looking to break into the GCC booming e-commerce market, currently worth an estimated $29 billion. 

Tap Payments is serving merchants worldwide due to its capacity to tailor payment solutions in the MENA region with its multidimensional approach that addresses payment clearing, product, technology, relationship, and the regulatory environment. The company connects players around the world to the region through its payment infrastructure by facilitating connection to the highly adopted local payment networks in Saudi Arabia, UAE, Kuwait, Bahrain, Qatar, Oman, Jordan, Lebanon and Egypt.

In 2020, Tap Payments set up operations in Bahrain to take advantage of its advanced financial services sector, best value operating model and progressive legislations. Bahrain is home to the region’s oldest and most established banking and financial services sector, with over 350 financial institutions. The sector, which accounts for 17.3% of non-oil GDP in the Kingdom, benefits from a stable, predictable, and forward looking regulatory and business environment. Financial services continue to be a key contributor to Bahrain’s economy and will play a critical role in the Kingdom’s economic recovery plan which was announced in October 2021.

There are currently five GCC country specific local payment networks and another two in Egypt, in addition to the internationally known payments networks. This means that it is an expensive process for e-commerce companies to expand their offering regionally. Tap Payments provides the ease of doing business in the region without the hassle of setting up offices, licenses, and bank accounts in each country due to its multidimensional approach.

Tap Payments’ system unifies the commercial and technical aspects of each local payment network so that businesses may instantly accept payments from across the region. The company’s solutions include a payment gateway that accepts payments online and on mobile, as well as peer-to-peer payment request solutions so businesses can send payment links to customers.

“We are pleased with the growth rate of our operations in Bahrain, thanks to the best-in-class business and regulatory environment. We are keen to operate under a developed regulatory environment that attracts financial innovation. We appreciate the welcoming environment that the EDB has put in place to attract our investment in Bahrain and value the role of the CBB in guiding us through establishing a healthy regulatory setup that supports our financial activities in the country. In less than a year, our local team was able to secure a significant number of clients in Bahrain and the wider region.” said Ali Abulhasan, Co-Founder and CEO of Tap Payments.

Abulhasan said: “With our operating model, we are filling a region-wide payment solutions market gap for any size of business with a special angle focused on SMEs, at a very competitive value proposition. Tap Payments’ business model is profitable and less risky. Our solution means customers can buy products online from another country in the GCC while still using their home country’s payment method and currency. These local payment networks make up a huge percent of online payments in most of the GCC countries – 65% in Bahrain, 80% in Kuwait and 70% in Saudi Arabia. So, businesses need to consider how critical their reach to the markets is and no longer downplay their impact.”

Dalal Buhejji, Executive Director – Investment Origination at Bahrain’s Economic Development Board (EDB), said: “We are delighted to see Tap Payments’ rapid growth in Bahrain, benefiting from our strong, agile and pioneering financial services ecosystem. By working with companies like Tap Payments, we continue to encourage growth in e-commerce, a sector that is expected to reach $50 billion across the GCC by 2025. The young, tech-savvy population we have here will supply Tap Payments’ new hub with all the local talent it needs. In fact, over 65% of the financial services workforce in the Kingdom are Bahrainis.”

Bahrain’s real estate transactions jump 46% in 2021

  • Bahrain real estate transactions reach US$2.8 billion compared to some US$1.9 billion in 2020

Bahrain’s real estate transactions value rose by 46% in 2021, to US$2.8 billion (1,046,162,080 BHD), compared to US$1.9 billion (717,436,872 BHD) in 2020, according to figures released by Bahrain’s Survey and Land Registration Board. The total real estate transactions hit 26,136 in 2021, an increase of 35% compared to 19,405 transactions in 2020.

The growth coincides with several major developments, including Bahrain’s recently announced National Economic Recovery Plan. The plan aimed to drive economic growth based on five main pillars, including the launch of strategic projects valued at over US$30 billion in various sectors, including infrastructure, industrial, housing, tourism, and healthcare.

The housing segment of the plan includes the “Sharaka” programme, which allows private developers to bid for contracts for government land, in line with the government’s commitment to strengthening its partnership with the private sector and providing quality houses for citizens. The programme is set to expand over the coming years to include more than 16,000 housing units.

Bahrain’s real estate sector is a popular destination for investments, offering a multi-dimensional marketplace that caters to the growing demand in the Kingdom. As demand surges, residential, retail, and tourism properties present a unique investment opportunity.

Bahrain EDB and Japan External Trade Organization sign MoU to promote direct investments

The Bahrain Economic Development Board (Bahrain EDB) has signed a Memorandum of Understanding (MOU) with the Japan External Trade Organization in Dubai (JETRO Dubai). This new partnership will further strengthen relations between the Kingdom of Bahrain and Japan, resulting in a stronger partnership, and one helps to highlight Bahrain as an investment destination for Japanese companies.

The signing ceremony was held on December 12th 2021, at the Bahrain Pavilion at EXPO 2020 Dubai, followed by speeches and a reception attended by representatives from both parties. 

“Bahrain’s strategic location coupled with its strength in sectors such as logistics, ICT, and finance makes it an attractive destination for Japanese investments,” said Nobuhiko SASAKI CEO/Chairman of JETRO. “Through this MoU, we look forward to creating new opportunities for Japanese companies looking to launch or expand businesses throughout the Middle East.”

“Bahrain’s developed regulations, competitive operating landscape, and skilled workforce are some of the key reasons why we continue to be an attractive destination for international investments from various markets,” said H.E. Khalid Ebrahim Humaidan, Chief Executive of Bahrain EDB. “We are excited for this partnership which will further solidify Japan as a key strategic market for us, and we look forward to a fruitful collaboration with Jetro.

The MOU between Bahrain EDB and JETRO Dubai, has several key aims, including:

  • Exchange of information in order to attract investment in both countries.
  • Creating interaction opportunities between companies in Japan and the Kingdom of Bahrain in order to facilitate investment in various areas.
  • Providing advice on activities by both Parties which will promote the development of a two-way economic and investment cooperation.
  • Paving the way for economic and investment cooperation between companies in Japan and companies in the Kingdom of Bahrain.
  • Promotion of strategic sectors with mutual benefits to both the Kingdom of Bahrain and Japan.

As a gateway to the region’s US$1.4 trillion GCC market, Bahrain also provides unique technical skills. In fact, Bahrain was recently ranked as 1st in the GCC for availability of advanced computer programming talent in ICT as a percentage of the population, according to the International Telecommunication Union (ITU).

Japan’s current FDI in Bahrain is already amongst the top 10 by stock and flows and Bahrain looks forward to growing this ranking further through initiatives such as this MOU that will facilitate more Japanese corporations to establish presence in the Kingdom. As referenced above, Bahrain has also recently embarked on a National Economic Recovery Plan to drive economic growth based on five main pillars including, enhancing the overall business-friendly environment to attract foreign direct investments and create new investment opportunities across the Kingdom by launching over US$30 billion of strategic projects. Find out more about these projects through the website www.invest.bh.

Bahrain Ranks Fourth Globally and Second in MENA for Islamic Finance Development Indicator

  • Bahrain also ranks first globally in Islamic finance regulation
  • Value of Sukuk issued in Bahrain increased by 40% to USD5.3 BN, and Net Asset Value of Islamic Funds increased by 142% to reach $27 MN

Bahrain has ranked fourth in the world and second in MENA for Islamic finance development according to the 2021 Islamic Finance Development Indicator – IFDI 2021 by Refinitiv, a London Stock Exchange Group (LSEG) business, the world’s leading provider of intelligent information for businesses and professionals.

The Islamic Finance Development Indicator (IFDI), which provides a detailed look at the current state of the industry measures the overall development in 135 countries based on quantitative development, knowledge, governance, awareness, and corporate social responsibility CSR (Charities and Qard Hasan). The report places Bahrain first globally for Islamic finance regulation and news. Amongst MENA countries, Bahrain ranked first in awareness, governance, corporate social responsibility activities and Islamic finance knowledge. Bahrain also tops the ranking in the region for Islamic banking, and corporate governance.

Commenting on Bahrain’s global position as a leader in the development of Islamic finance, Mr. Khalid Hamad Al Hamad, Executive Director of Banking Supervision at the Central Bank of Bahrain (CBB), said, “We have seen the total value of Islamic finance assets reach US$ 102 billion in Bahrain in 2020, making Bahrain among the top 10 countries globally in Islamic finance & banking assets. This clearly demonstrates that Bahrain has become the regional hub for Islamic finance supported by a robust and business-friendly regulatory framework that has been recognised as industry-leading by the IFDI report.

“We will continue our efforts to further develop the financial services ecosystem. This industry is the largest contributor to GDP after oil, at 17%, and such efforts are in line with the recently announced Economic Recovery Plan which includes a number of growth and development initiatives with the aim of increasing the contribution of non-oil sectors to GDP.”

According to the report the net asset value of Islamic Funds in Bahrain during 2020 increased by 142% to reach $US27 million and the value of Sukuk issued increased by 40% to USD5.3 billion when compared to 2019. Additionally, the number of institutions offering degrees in Islamic Finance increased by 14%, contributing to Bahrain attaining 2nd position in the GCC for Education in Islamic finance. 

The report, which is in its ninth edition and entitled Advancing Economies, shows that the world’s Islamic finance industry saw double-digit growth of 14% in 2020 to a total US$3.37 trillion in assets. IFDI projects the size of the Islamic finance industry to rise to $4.94 trillion in 2025. The report also forecasts that digitisation and sustainable finance will continue to be main trends in 2022 and beyond. To view the Islamic Finance Development Report 2021, please visit this link  https://bit.ly/IFDI2021.

Mueller Middle East exceeds $100m in annual exports from Bahrain trading hub

• Copper tube manufacturer eyes $1 billion of exports over next five years from Gulf logistics hub
• Bahrain’s FTAs and access to $1.4 trillion GCC market help firm to capitalise on growing demand for copper tubing

Copper tube manufacturer Mueller Middle East (MME) exceeded $100 million in global exports from its base in Bahrain and is targeting $1 billion of exports over the next five years. 40% of MME’s global exports over the last year were to the Kingdom of Saudi Arabia and the UAE, followed by Egypt and Jordan.

MME, based in Bahrain, is currently the only copper tube manufacturing facility in the MENA region. The company exports to more than 10 countries, with the US, Canada, Egypt, KSA and UAE making up the largest share. Most of MME’s products are used by Air Conditioning and Refrigeration Original Equipment Manufacturers.

MME commenced operations in Bahrain in 2018 and began to ramp up production from mid-2019 in a bid to grow market share. Despite global supply chain disruptions caused by Covid, MME was able to leverage Bahrain’s free trade agreement (FTA) with the US. The firm’s exports to the US accounted for over 4% of total Bahrain-US exports in the first half of 2021, according to the United Nations Comtrade database.

Commenting on the announcement, Hesham Alabbar the General Manager of MME said: “This milestone represents the first major step in establishing MME as a serious player in the copper tubing market. Proud of the hard work that the team put in over the last couple of years. We have our eyes set on $1 Billion in exports over the next 5 years,”

Due to its FTAs and easy access to the $1.4 trillion GCC market, including Saudi Arabia, which is 40 minutes away by road, Bahrain is seen as a destination of choice for international manufacturers and distributors. Manufacturing is one of the most important contributors to Bahrain’s economy, accounting for around 13.8% of GDP as of Q2 2021. Bahrain is seeking to attract more manufacturers to the country as part of its economic diversification.

Ali Al Mudaifa, Executive Director – Investment Origination at Bahrain’s Economic Development Board, said: “We are pleased that MME has been able to use Bahrain’s regional and international FTAs so effectively. The company’s trade milestone is a testament to the Kingdom’s business-friendly regulations and easy access to regional and international markets.

“The pandemic has demonstrated the value of robust supply chains and easy, duty-free access to key markets. Bahrain’s position as a leading logistics hub and gateway to the Gulf and beyond has enabled several major manufacturers in the Kingdom to grow exports during the pandemic. We support MME’s aim to reach $1 billion worth of exports over the next five years and hope to assist more international manufacturers in their export strategies in the coming years.”

Demand for copper tubing and other metal and alloy products is increasing throughout the region as construction projects resume in the wake of the pandemic. According to IMARC Group, the global copper pipes and tubes market is expected to reach a volume of 5.5 million tonnes by 2026, up from 4.5 million in 2020.

The Gulf is a key supply chain hub for the global manufacturing sector and Bahrain is one of the main distribution centres in the region. Home to several major logistics groups, including DHL, Bahrain is a springboard to neighbouring markets. Trade between Bahrain and the US reached $941 million, in the first half of 2021, up from $783 million in H1 2020.

BAHRAIN LAUNCHES INVESTMENT PLATFORM ENABLING INVESTOR ACCESS TO INVESTMENT OPPORTUNITIES IN THE KINGDOM STRATEGIC PROJECTS VALUED OVER USD30 BILLION

Invest in Bahrain homepage

Manama, Bahrain, 27 November 2021: The Economic Development Board today announced the launch of the investment platform invest.bh that allows investors to access investment opportunities in the Kingdom’s strategic projects as part of Bahrain’s Economic Recovery Plan which saw the announcement of strategic projects worth more than USD30 billion.

The platform enables investors to explore current investable and future planned projects in the Kingdom across a wide range of sectors including industrial, infrastructure, tourism and housing projects.

Investable projects include Bilaj Al Jazayer Tourist City, Bahrain Metro, USA Trade Zone, Aluminium downstream zone and Sports City. Future planned projects are the new planned cities of Fasht Al Jarim Area, Suhailia Island Area, Fasht Al Adhm Area, Gulf of Bahrain Gulf of Bahrain Area, and Hawar Islands Area.

 Khalid Humaidan, Chief Executive Director of the Bahrain Economic Development Board, said: “this new investment platform is a critical component in implementing the Economic Recovery Plan. With the recent announcement of the strategic projects, ensuring investors have access to current investment opportunities, as well as future planned projects gives them direct access to strategic investment opportunities and offers us a platform to engage directly with prospective partners”

 “Our Economic Recovery Plan aims to drive economic growth and boost non-oil sectors in the Kingdom of Bahrain as we emerge from the pandemic. Through the platform we are encouraging the private sector to play a bigger role in economic development.”

 The Kingdom of Bahrain’s Economic Development Board provides support for investors interested in these opportunities and enables them to benefit from the competitive advantages available to them in the Kingdom, including an agile business environment, competitive operating costs with no corporate or income taxes, and a highly skilled workforce. EDB has offices around the world, including in the USA, Europe, China, and India.

To view the new investor platform, please visit this link: www.invest.bh

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