Bahrain Economic Development Board (Bahrain EDB) successfully wrapped up a week-long visit to India which kicked off earlier this month on September 9, 2024, and spanned across the cities of Mumbai, Bengaluru, and Chennai. 

 

Led by Noor bint Ali Alkhulaif, Minister of Sustainable Development and Chief Executive of Bahrain EDB, with the support of senior members of the investment promotion agency, the visit comprised a series of select events and meetings to showcase value-adding opportunities across priority sectors, namely manufacturing and information and communication technology (ICT), to targeted investors.

 

Designed to strengthen economic and business ties between the two countries, as well as promote high-impact investment opportunities in Bahrain to a curated selection of India-based investors, Bahrain EDB hosted several events as part of the roadshow. 

 

In Mumbai, in collaboration with the Confederation of Indian Industry (CII), an exclusive dinner was held at Taj Mahal Palace, where the gathering offered an opportunity to connect with key decision makers from select leading Indian companies, said EDB in a statement.

 

Two forums were held showcasing the kingdom’s investment landscape with an in-depth discussion of  expansion opportunities available for businesses to leverage Bahrain as a hub to expand across the Gulf and greater Middle East and North Africa region. 

 

The first was held in Mumbai, the second was held in at The Leela Palace Bengaluru, both events held in partnership with Grant Thorton focusing on investment opportunities within Bahrain’s thriving manufacturing and ICT sectors.

 

On the sidelines of the events, Bahrain EDB announced securing investment commitments valued at just under $33 million stemming from leading India-based companies across multiple sectors. 

 

The cumulative impact of these investments, particularly Polymatech’s entry into Bahrain, will contribute to the Kingdom’s ongoing journey towards economic diversification, sustainable growth, and its goal of becoming a hub for innovation and technological excellence in the region.

 

Bahrain and India enjoy strong bilateral and economic ties, where the Asian giant is ranked as one of Bahrain’s top 6 investing partners, with its FDI stock in the kingdom soaring to over $1.5 billion in 2023. 

 

Earlier this August, in a significant expansion into the Middle East, The Indian Hotels Company Limited (IHCL), India’s largest hospitality company, announced the launch of two luxury properties in Bahrain under its iconic Taj brand. 

 

The strategic move, in partnership with Kingdom Projects, marks a significant milestone for IHCL as part of its growth-oriented plans to expand its global footprint under its portfolio of leading hospitality brands across the Middle East. 

 

Bahrain remains committed to fostering a supportive ecosystem for investors, with forward looking policies aimed at simplifying business operations, offering unique competitive advantages leading to success stories with local roots and global impact, said the statement from EDB. 

 

These factors, combined with a highly skilled, bi-lingual, and diverse talent pool, advanced infrastructure, and strategic location, continue to cement Bahrain as an attractive destination for global investors around the world, it added.-TradeArabia News Service