March 29, 2015
EDB visits the US and India
As part of the Bahrain Economic Development Board (EDB) efforts to promote the Kingdom and drive foreign direct investments, a number of visits were conducted to the US and India by EDB officials during the first quarter of 2015.
In the US, EDB representatives met with business leaders from the advanced technology sector in Seattle, Silicon Valley, and Texas to discuss business ties with the Kingdom of Bahrain.
EDB officials presented opportunities the Kingdom offers for investors in the technology sector and the ability to access neighbouring markets by utilising the Kingdom’s core benefits of an established ICT infrastructure, low operating costs and an experienced local workforce.
In addition, the delegation participated at the annual HighTech Roadshow in Texas, which was organised by the National US-Arab Chamber of Commerce, during which they joined a number of business forums and seminars about enhancing US-Arab trade, and met with business leaders in the cities of Austin, Houston, and Dallas, where they were able to shed light on the numerous cooperation opportunities between the US and the Arab region.
In India, an EDB delegation attended the “Vibrant Gujarat” Global Business Summit in Ahmedabad and the Confederation of Indian Industry (CII) annual summit in Jaipur, where the EDB was an event sponsor. EDB representatives met with Indian businesses looking to access Bahrain and the fast-growing GCC market during both events.
The EDB has established offices in a number of international markets including the United States, India, Germany, China, and Japan among others. The EDB’s efforts have led to the launch of a number of companies including US companies Olayan Kimberly-Clark and American Express as well as Indian companies Tata Consultancy Services and Tech Mahindra among others.
EDB hosts international media to the Kingdom
In the past three months, the EDB hosted four separate media groups who visited the Kingdom, experienced Bahrain and learned more about its business environment and hospitality.
A delegation of journalists from a number of international markets covering the insurance sector were invited to the Kingdom on the sidelines of the 2015 Middle East Insurance Forum (MEIF), which was hosted with the strategic partnership of the Central Bank of Bahrain (CBB). This came as part of the EDB’s efforts to promote investment opportunities in the Kingdom and highlight the Kingdom’s key competitive advantages and long running history in its financial services sector.
The journalists represented a number of high profile international publications including UK publications, Reinsurance and Life Insurance International, Singapore publication, Middle East Insurance Review, and GCC based Premium ME. The visit followed on a previous media delegation visit hosted by the EDB during the 2014 MEIF.
In line with promoting the financial sector in the region, the EDB later hosted a delegation of journalists which covered the financial and Islamic finance sectors. The FAM trips coincided with the two international events the 4th Euromoney GCC Financial Forum, cohosted by the EDB and Euromoney Conferences, and the Global Islamic Investment Gateway (GIIG), which was organised by the EDB, Thomson Reuters and the Islamic Development Bank (IDB).
The journalists in both trips represented a number of high profile international publications, where publications Funds Global MENA, Euromoney Institutional Investor, and Gulf Business were represented at the Euromoney GCC Financial Forum while various publications were hosted for the GIIG event including MENA FM; German publication Focus Money; Korean publication The Korea Times; Indian publication Hindu Business Line; and GCC publications, Banking and Finance and Islamic Business and Finance; as well as CNN Arabic.A Russian media delegation also followed this, as part of EDB efforts to promote investment opportunities and further strengthen bilateral ties between the two countries. The journalists represented a number of high profile Russian publications including Kommersant, Lenta Ru, and Expert.
In addition, the EDB hosted three journalists representing publications in South Korea. The publications represented were Chosun IIbo, the Korea Economic Daily, and Economist. The trip followed a number of business delegation visits between the two countries in 2012 and 2014, and reiterated the longstanding bilateral relations between Bahrain and South Korea.
EDB Briefs Chinese businessmen on Bahrain’s investment opportunities
A Chinese business delegation met with officials from the EDB as part of a visit to the Kingdom. The delegation, including representatives from Chinese companies in the oil and gas sector, also held talks with their counterparts in the National Oil and Gas Authority (NOGA), Bapco as well as Tamkeen.
As part of the visit, the members were briefed on the Kingdom’s investment climate and competitive advantages through a presentation conducted by the EDB, which introduced the benefits of setting up business in the Kingdom and the country’s diversified and free economy. The meeting also discussed the country’s positive international rankings, which are testament to the Kingdom’s policy in addressing economic changes with flexibility. It also showcased Bahrain uniqueness in providing national qualified workforce, and affordable and low cost living environment which contribute to the country being a gateway to the gulf market.
In October last year, a high-level business delegation from Bahrain conducted a 10 day visit to the People’s Republic of China, which aimed to strengthen economic and trade ties between the two countries. The visit included four of China’s main commercial centres; Beijing, Guangzhou, Shenzhen and Hong Kong and resulted in the signing of 13 agreements with various Chinese companies and trade entities. A delegation from NOGA have also visited China in December last year, where the members met with high level officials from the China National Energy Administration (NEA) as well as leading companies from the oil, gas and petrochemicals sector in the country.