September 15, 2014
Manama: The Economic Development Board (EDB) is hosting this week an Indian journalist delegation to promote investment opportunities in the Kingdom and further strengthen bilateral ties between the two nations.
The journalists and editors represent a number of high profile Indian publications including the Hindu Business Line, The Times of India and Entrepreneur India Magazine. The trip follows HM the King’s historical visit to the India earlier this year, and reiterates the strong connections between the two countries. HRH Prince Salman bin Hamad Al Khalifa, Crown Prince, First Deputy Prime Minister and Chairman of the EDB also visited India in 2012 and 2013.
The two-day visit includes meetings and interviews with a number of public and private sector representatives such as the EDB, Central Bank of Bahrain (CBB), the Bahrain International Investment Park (BIIP), Chemco Group, and Tata Consultancy Services.
Additionally, the journalists will also experience Bahraini culture with visits to Bahrain Fort, and the National Museum.
H.E. Kamal bin Ahmed, Minister of Transportation and Acting Chief Executive of the EDB said:
“These visits come as part of the EDB’s efforts to build on Bahrain and India’s long history of economic and cultural relations, and promoting Bahrain globally as an ideal business and investment destination. Indian businesses are investing and expanding internationally, and with recent market opportunities and growth in the GCC, Bahrain offers excellent potential, evident by 27 MoUs signed with key business organizations from both India and Bahrain following HM the King’s visit earlier this year.”
Just this month the Confederation of Indian Industry (CII) announced that it will launch its first office in the Middle East at a ceremony in Bahrain. The office will build on existing trade and investment relations between India and the GCC and encourage Indian investments in the region. The launch represents a further strengthening of the relationship between Bahrain and India. There are over 350,000 Indian residents in Bahrain and total trade between India & Bahrain in 2011 exceeded $1.7 billion.
At the same time, the EDB also signed an agreement with the Overseas Indian Facilitation Centre (OIFC), to work together and promote cooperation between Bahrain and India in a variety of key areas, including financial services and research.
Notes to editors
About The Bahrain Economic Development Board (EDB)
The Bahrain Economic Development Board (EDB) is a dynamic public agency with an overall responsibility for attracting inward investment into Bahrain, and is focusing on target economic sectors in which the Kingdom offers significant strengths.
Key areas of focus include manufacturing, ICT, and logistics and transport services as well as other sub-sectors. The Financial Services sector in Bahrain is particularly strong and the EDB supports in the continuing growth of the banking industry and key sub-sectors, including Islamic Finance, Asset Management, Insurance, and Re-Insurance.
For more information on the Bahrain EDB visit www.bahrainedb.com; for information about Bahrain visit www.bahrain.com
For more information contact:
National Communications Team