Setting a new record, Bahrain’s foreign direct investment (FDI) inflows surged by $1.95 billion in 2022 while global FDI fell by 12 per cent, according to the latest World Investment Report (WIR 2023) by the United Nations Conference of Trade and Development (UNCTAD).

 

Bahrain’s inward FDI stock has increased by 5.82% from $33.484 billion at the end of 2021 to $35.436 billion as of end-2022, the report shows.

 

FDI stock is the total accumulated level of direct investment at the end of a given period (usually quarter or year).

 

Commenting on the achievement, Bahrain Economic Development Board CEO Khalid Humaidan said: "This milestone achievement of almost $2 billion in FDI inflows reflects the robust level of investor confidence in Bahrain’s value proposition, encouraging local and international investments that are backed by a highly skilled workforce and best value operating costs serving as a gateway to the region."

 

"This record increase in FDI inflows is supported by Team Bahrain's swift agility in successfully driving in solid investments and securing value-adding projects across priority sectors. I am confident in our ability to maintain a strong pipeline of investments in 2023 and beyond," stated Humaidan. 

 

According to him, Bahrain has made laudable progress in diversifying its economy, growing opportunities for local and international businesses and maintaining steady investor confidence, as well as consistently increasing the kingdom’s FDI inflows. 

 

While economic diversification efforts have long been underway in Bahrain, the Economic Recovery Plan (ERP) formed in 2021 embraced a focused development plan with an overarching aim of enhancing the kingdom’s competitiveness on an international level by reprioritising the economy and underscoring strategies across high value sectors. 

 

To ensure Bahrain remains an attractive destination for investment, it has recently launched major investor friendly schemes such as the Golden Licence. 

 

Also it continues to maintain an ongoing commitment to streamline commercial procedures on a regulatory front, further boosting Bahrain’s business-friendly environment.-TradeArabia News Service