EDB showcases Bahrain’s ICT sector at the 35th anniversary edition of GITEX

Posted on by edbclient

October 13, 2015

Manama:  The Economic Development Board (EDB) is to showcase investment opportunities in the Kingdom at the Gulf Information Technology Exhibition (GITEX). The event will be held in Dubai from 18th to 22nd October 2015 at the Dubai World Trade Centre.

This will be the sixth consecutive year the Bahrain EDB has participated at GITEX. The Bahrain pavilion will showcase a number of the Kingdom’s leading ICT sector businesses, including: Silah Gulf, Abrar Consultancy Co., Ahlia University, Alnadeem Information Technology W.L.L., Almoayyed Computers, Aurion Pro Solutions SPC, Azimuth, Computer World W.L.L., Eehaa Graphics, Etisalcom, i196, Microcenter, Spatial Technology Solutions Co. WLL and Training Plus Institute.

Mr. Khalid Al Rumaihi, Chief Executive of the EDB, commented:

“In the second quarter of 2015 transport and communications became Bahrain’s single fastest growing sector and now contributes more than 7% to the Kingdom’s GDP. Bahrain also boasts some of the Middle East’s most liberal and advanced ICT infrastructure and policies and acts as a base for global ICT businesses, such as Huawei, to access the Gulf and wider Middle East market. As the leading trade show in the region, GITEX is an ideal platform to showcase the many investment opportunities in Bahrain’s fast-growing ICT sector.”

Now in its 35th year, Gitex is the region’s leading ICT and technology trade show. The event will include talks from more than 80 of the world’s leading voices from the tech industry and is expected to attract more than 140,000 visitors.

Transport and communications contributes more than 7% to Bahrain’s GDP and in Q2 2015 grew by 6.7% YoY, faster than any other sector. Bahrain has some of the Middle East’s most liberal and advanced ICT infrastructure and policies, with one of the highest mobile and internet penetration rates in the region. The Kingdom is also ranked in the top 30 economies globally by the World Economic Forum’s Networked Readiness Index, part of the Global Information Technology Report 2015.

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For media inquiries, please call:
National Communications
Economic Development Board
Tel: 17 589966
Email: NC@BahrainEDB.com

Robust non-oil growth drives Bahrain economy

Posted on by edbclient

October 07, 2015

Manama:  Bahrain’s non-oil sector is on target to grow by 4.6% this year according to the latest Bahrain Economic Quarterly issued by the Bahrain Economic Development Board (EDB). Overall growth is expected to reach 3.6% with output in the oil sector forecast to be flat.

The transport and communications sector led the way, reporting a year-on-year growth rate of 6.7%, whilst the construction sector and the social and personal services sector were also amongst the strongest performers, with year-on-year growth of 6.4%, and 6.2% respectively for the Q2 period. The non-oil sector has been supported by strong credit growth with an increase in lending from an annual rate of 5.7% in June to 7.7% in July.
Alongside a strong performance in the non-oil sector, the economy also saw positive progress in diversification of exports, with high regional demand for non-hydrocarbons products.
The report also highlighted the positive performance of the Bahrain labour market, which showed an unemployment rate of 3.1% in June, the lowest point reached in several years.  The low rate mirrors the recent resilience of the non-oil economy, and the build-up of large infrastructure projects in the Kingdom, which are helping to spur growth in the construction, manufacturing and real estate sectors.
Mr Khalid Al Rumaihi, Chief Executive of the EDB, commented on the findings of the BEQ report: “The robust growth in many sectors of the non-oil economy shows that despite the challenging global environment, Bahrain is thriving.
“Concerted efforts to diversify Bahrain’s economy have seen the share of GDP accounted for by oil and gas fall from more than 40% in 2000 to around a fifth today. This diversification means that our economy is able to continue to grow and create jobs, even when facing considerable headwinds. This growth continues to be underpinned by strong fundamentals – the region’s highly supportive demography, ongoing economic diversification and the increasing integration of the Gulf into global trade and travel flows.”
The full report can be downloaded from the link:
http://www.bahrainedb.com/en/EDBDocuments/BEQ-September-2015.PDF
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For media inquires, please call:
National Communications
Economic Development Board
Tel: 17 589966
Email: NC@BahrainEDB.com

The Bahrain EDB Explores Opportunities for Cooperation with the Guangdong Council for the Promotion of International Trade (CCPIT)

Posted on by edbclient

September 20, 2015

Manama: Representatives from the Economic Development Board (EDB) explored opportunities for further cooperation with China during a visit by a Chinese business delegation from Guangdong. The delegation comprised companies from a number of different industrial sectors.

The EDB also presented the various opportunities available to Chinese investors in the Kingdom, through highlighting the competitive advantages of Bahrain and its open economic environment. The delegation met with representatives of Bahrain Technology Companies (BTECH) society, they will be meeting with representatives from the Kingdom’s business community at the Bahrain Chamber of Commerce and Industry (BCCI) and will visit the site of the upcoming Dragon City Project.
The visit, which marks the 14th visit by a Chinese trade and investment delegation to the Kingdom in 2015, follows on the conclusion of a 10-day Roadshow by a high-level business delegation to the People’s Republic of China. The visit, organised by the EDB, led to the signing of 15 agreements with Chinese businesses and trade organisations, to further strengthen economic and trade ties between the two countries. During the roadshow, the Bahraini delegation also took part in the China International Fair for Investment and Trade (CIFIT), at which Bahrain was the first country in the Middle East to be the guest country of honour.
The visiting Chinese delegation was briefed on the competitive advantages Bahrain offers, including the diversity of its economy and its economic freedom, as well as its relatively low operating costs, highly skilled bilingual workforce, and development of human capital. The visiting delegation were also briefed about the factors allowing Bahrain to rank highly in a number of key international indices, which have helped the Kingdom attract leading international companies and investors.
The China Council for Promotion of International Trade (CCPIT) in Guangdong province was established in 1957, and includes representatives from a range of sectors and businesses in the province. Since its establishment, the CCPIT has worked to promote international trade and benefit from foreign direct investment and promoting economic cooperation. CCPIT has established a wide network of relationships with commercial and industrial organizations in more than 100 countries and territories around the world.
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For media inquires, please call:
National Communications
Economic Development Board
Tel: 17 589966
Email: NC@BahrainEDB.com

Baoshang Bank announces plans to establish operations in Bahrain

Posted on by edbclient

September 16, 2015

Manama: A high level Bahrain business delegation, organised by the Bahrain Economic Development Board (EDB), has signed six agreements during a ten day visit to China, bringing the total signed during the visit to 15 agreements. The agreements aim to encourage stronger ties between businesses based in Beijing and Bahrain.

The six MoUs were signed in Beijing. They were:
  • Bahrain EDB and Baoshang Bank signed a MoU as the bank seeks to establish a regional headquarters in the Middle East with the EDB’s support.  The Bank provides financial solutions in key sectors, is dedicated to SME financing and has an “A” level credit rating in China, with total assets of US$97 billion
  • Bahrain EDB signed a MoU with the China Arab International Exchange Centre. The agreement looks to establish a general cooperation framework between the two parties, to promote stronger economic relations between the China and Bahrain
  • Bahrain EDB and the China Arabia Economic Cultural Exchange Association (CAECEA) signed a MoU to promote investment opportunities in a number of sectors including infrastructure construction, financial services, manufacturing and energy, amongst others
  • Projects Construction Company W.L.L signed a MoU with CMEC, to encourage exploration of development and construction opportunities in the Kingdom. CMEC is to provide project finance while Projects Construction Company will represent the joint venture locally and act as the main contractor for construction projects in Bahrain
  • Chinamex signed two MoUs in Beijing. The first was with Henan Lotus Flower Company, one of the largest food ingredients manufacturers in China in preparation for the opening of the Bahrain Dragon City later this year
  • The second agreement Chinamex signed was with xbniao.com to provide logistics services for Bahrain Dragon City
The agreements add to those signed in Xiamen when the Bahrain delegation attended the China International Fair for Investment and Trade (CIFIT) as the first guest country of honour from the Middle East. In total, 15 MoUs and letters of Intent (LOIs) have been signed in China by the Bahrain delegation. On the side lines of the Bahrain-China Business and Investment Forum in Xiamen two companies, Jinlou Water and Worldwide Logistics, announced their intention to establish operations in Bahrain. In Ningxia at the China Arab States Expo a MoU was signed by the Bahrain EDB and The China Council for the Promotion of International Trade (CCPIT- China) to strengthen trade ties between the two countries.
A Bahrain-China Business and Trade Forum was also held in Beijing, organised by the Bahrain EDB in cooperation with CCPIT, included speeches by Mr. Khalid Al Rumaihi, Chief Executive of the Bahrain EDB and HE Dr Anwar Al-Abdulla, Ambassador of the Kingdom of Bahrain to China. The forum also featured a panel discussion on the Kingdom’s business environment, moderated by Ms. Vivian Jamal, Executive Director of Marketing and Communications at the EDB. Panellists included: Mr. Hamid Al Zayani, Founder and Partner of Al Zayani Investments; Mr. Osama Al Khaja, Head of Project Development at Kuwait Finance House (Bahrain); Mr. Mohamed Al Kooheji, Director of AJM Kooheji; and Mr. Chai Xin , Public Relations Manager at Huawei Bahrain.
Mr. Khalid Al Rumaihi, Chief Executive of the Bahrain EDB said:
 “Bahrain is the freest economy in the Middle East and by ensuring a favourable business environment, the Kingdom is able to fully support China realise its ‘One Belt, One Road’ vision by acting as the ideal hub from which Chinese businesses can access the fast growing GCC market.
 “We are in Beijing to promote the significant opportunities that exist for Chinese businesses in Bahrain, strengthen trade ties with China further still, and create quality jobs for Bahrainis. In fact, non-oil trade between Bahrain and China has grown substantially in the last five years, from US$890 million in 2009 to US$1.98 billion in 2014. A large number of Chinese businesses, including Huawei, are also already using Bahrain as the hub for their regional operations.”
While in Beijing, the Bahrain delegation also met with China Investment Corporation, Air China, China National Building Material (CNBM), and China Equity amongst others.
The delegation also visited the city of Shenzhen, where members met with Chinese officials representing the Shenzhen government and senior leaders from Huawei and other major Chinese businesses. Business meetings were held throughout the visit between members of the Bahrain delegation and Chinese private sector entities to discuss potential investment opportunities in Bahrain.
As one of the most diversified economies in the GCC region, Bahrain has much to offer Chinese businesses, particularly in high growth sectors such as financial services, tourism and ICT.  The Kingdom boasts four decades of experience in the financial services sector and is home to more than 400 financial institutions.  In addition, Bahrain’s strategic geographical location and excellent transport infrastructure makes the island a logistics hub for manufacturing companies, allowing for the quick, easy and reliable transportation of goods.
Bahrain’s favourable business conditions and strong economic fundamentals were endorsed by the Heritage Foundation’s 2015 Index of Economic Freedom, which saw the Kingdom ranked 18th in the world and first in the Middle East and North Africa. In addition, Bahrain offers a tried and tested regulatory environment, minimal restrictions on foreign investment and ownership and one of the lowest operating costs and taxation systems in the region.
Bahrain has been a trading nation for thousands of years and played a key role in the development of the maritime trade routes that connected China to Europe along the old Silk Road. In fact, there is evidence of trade between Bahrain and China as early as the 8th century AD. Today, along the 21st century Silk Road envisioned under China’s ‘One Belt, One Road’ strategy, Bahrain is a hub for a number of Chinese business looking to access the fast growing Gulf and wider Middle East region.
The Bahrain EDB has an office based at the Bahrain Embassy in Beijing with representation in Hong Kong, and provides information and support to interested investors from China. Investors wanting more information about Bahrain can visit www.bahrain.com or contact Mr. Yun Jiang, the EDB’s representative in China, on: yun.jiang@bahrainedb.com
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Notes to editors:
Further information:
May Taher, Bahrain Economic Development Board
Tel: +973 17 589 972
Email: internationalmedia@bahrainedb.com
About The Bahrain Economic Development Board (EDB)
The Bahrain 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 tourism, ICT, manufacturing 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

Bahrain signs an agreement in Yinchuan to promote stronger economic ties

Posted on by edbclient

September 10, 2015

Manama: The Bahrain Economic Development Board (EDB), who are organising a high level Bahrain business delegation to China, has signed a Memorandum of Understanding (MoU) with The China Council for the Promotion of International Trade (CCPIT- China). The agreement was signed on the side lines of delegation’s attendance of the China-Arab States Expo in Yinchuan, the capital of Ningxia Autonomous Region. The visit is dedicated to improving bilateral relations between the two nations.
The delegation builds upon the recent visit by His Majesty King Hamad bin Isa Al Khalifa, who attended the China Arab States Expo in September 2013. The following year an EDB business delegation visited China and 13 agreements were signed between leading government and private sector organisations from both countries to promote closer economic ties.
The MoU, signed by Mr. Khalid Al Rumaihi, Chief Executive of the Bahrain Economic Development Board (Bahrain EDB) and Mr. Jiang Zengwei, Chairman of CCPIT – China, looks to establish the terms and conditions for the bilateral cooperation between the two parties, in order to promote investment projects in various sectors, including banking and finance, manufacturing and ICT among others.
It marks the ninth agreement to be signed by the delegation during this visit to China, with aims to strengthen economic relations between the two countries in various fields.
Mr.  Al Rumaihi, said:
“Bahrain is fully committed to playing its part in China’s ‘One Belt, One Road’ policy, which is successfully establishing a community of shared interests between China and the Arab World.  Events such as the China-Arab States Expo in Yinchuan encourage further collaboration in the field of trade and commerce and raise awareness amongst both public and private sector organisations about the opportunities that closer business links can bring.
“The agreement between the EDB and CCPIT will build on China and Bahrain’s already strong economic and trade partnership and will deliver high value added jobs for Bahrainis and significant returns for Chinese investors.”
Bahrain has been a trading nation for thousands of years and played a key role in the development of the maritime trade routes that connected China to Europe along the old Silk Road. In fact, there is evidence of trade between Bahrain and China as early as the 8th century AD. Today, along the 21st century Silk Road envisioned under China’s ‘One Belt, One Road’ strategy, Bahrain is a hub for a number of Chinese businesses looking to access the fast growing Gulf and wider Middle East region.
A large number of Chinese businesses, including Huawei, Bank of China, China Harbour Engineering Company Ltd and CPIC, have already established operations in Bahrain as a means of accessing the wider Gulf market, which is now worth US$1.6 trillion and expected to reach US$2 trillion by 2020.
Bahrain is one of the leading global centres for Islamic finance and a knowledge hub for the industry. Bahrain is home to the largest concentration of Islamic financial institutions in the world and is at the heart of the industry’s international development. As Ningxia region seeks to develop an Islamic financial centre for China new opportunities exist for Ningxia and Bahrain to cooperate and strengthen ties.
Bahrain, being one of the most diversified economies in the Arabian Gulf region, boats four decades of experience in the financial services sector and is home to more than 400 financial institutions. The Kingdom’s strategic geographical location, excellent transport infrastructure, as well as its free and open economy makes Bahrain a logistical hub for companies.
The Bahrain EDB has an international office based at the Bahrain Embassy in Beijing with representation in Hong Kong, which provides information and support to interested investors in China. Investors wanting more information about Bahrain can visit www.bahrain.com or contact Mr. Yun Jiang, the EDB’s representative in China, on yun.jiang@bahrainedb.com
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Notes to editors:
Further information:
May Taher, Bahrain Economic Development Board
Tel: +973 17 589 972
Email: internationalmedia@bahrainedb.com
About The Bahrain Economic Development Board (EDB)
The Bahrain 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 tourism, ICT, manufacturing, 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

The Kingdom of Bahrain to showcase real estate developments worth 10 billion at Cityscape Dubai

Posted on by edbclient

September 08, 2015

Dubai: The Kingdom of Bahrain Pavilion, hosted by the Economic Development Board (EDB), will be showcasing a number of Bahrain’s key real estate developments worth $10 billion at Cityscape Global event, which commences today at Dubai World Trade Centre (DWTC).The Bahrain Pavilion is showcasing Diyar Al Muharraq, Bahrain Bay, Durrat Al Bahrain, Al Bilad Real Estate Development Company’s Garden City development, Manara Developments Company’s Investment Gateway – Bahrain, and Bahrain World Trade Center .

Mr. Khalid Al Rumaihi, Chief Executive of the Bahrain Economic Development Board (EDB) said: “We are very pleased to be participating at this year’s Cityscape Global event in Dubai. The Kingdom will be showcasing a number of leading developments worth around $10 billion to the international investors who will be part of this event.

“Recent developments in Bahrain’s real estate sector indicate that the sector is picking up, and that the construction sector grew by around seven per cent in 2014. Furthermore, we are pleased to see the rapid growth in the tourism sector; the hotels and restaurants sector achieved growth of almost ten per cent in 2014, and visitor numbers into the Kingdom reached over 10 million for the year.”

During the event Bahrain Bay, the $2.5 billion waterfront district located in the heart of Manama, will announce a new investor. Bin Faqeeh Real Estate Investment Company has purchased three land parcels for its new residential complex project titled ‘Water Bay’, which will be the first residential complex in Bahrain Bay. Water Bay will feature three distinct 10-storey residences with around 600 luxury apartments and a retail floor. The construction will start later in 2015 and the project is scheduled for completion in 2017. The delegation from Bahrain Bay will also be highlighting specific investment opportunities with an emphasis on the South Marina Waterfront District, a waterfront precinct designed around vibrant neighbourhoods of residential, apart-hotel and retail spaces.

Bahrain Bay Development CEO, Mr Gagan Suri welcomed Bin Faqeeh Real Estate Investment adding, “We are delighted to welcome Bin Faqeeh, one of the Kingdom’s leading real estate developers, amongst our investors in Bahrain Bay. This latest announcement strengthens Bahrain Bay’s position as an iconic landmark that will add value to the legacy, the community and the future generation of Bahrain.”

Diyar Al Muharraq is a USD $3.18 billion complete real estate project surrounded by 40 kilometers of waterfront and beaches, making it longest waterfront in Bahrain. It comprises 7 islands with a total of 12 square kilometers of reclaimed land, and a mixed-use urban residential development creating a community that embraces the social and cultural fabric of the country. It will offer a high quality lifestyle with the most modern facilities and infrastructure, with close links to the heritage and vibrancy of the Kingdom, and will hold a number of architectural landmarks for visitors, reflecting the openness and cultural richness of Bahrain. It also incorporates a number of residential and commercial properties that meet both personal and investment interests and needs.

Dr. Maher Al Shaer, CEO of Diyar Al Muharraq said: “Cityscape has provided us with a valuable opportunity to showcase the progress and vision of Diyar Al Muharraq to a larger regional audience. With a strong backbone of farsighted policies and strategies carefully crafted to meet the requirements of the various segments of society, Diyar Al Muharraq has been committed to the success of the sector. We are aware of how vital our industry is to the progress of the economy and to the national infrastructure and we have consequently left no avenue unexplored whereby we can make a strong statement and showcase the industry in the GCC region. Cityscape Global Dubai 2015 has provided a tremendous opportunity to meet with others in the industry and to interact directly with a wider public audience.”

The $6 billion Durrat Al Bahrain development is a joint development owned by the government of Bahrain and Kuwait Finance House (Bahrain). Located on the south coast of Bahrain, this 21 square kilometres master development will offer more than 1,500 beachfront villas, 3,600 executive apartments and offices, luxury hotels and spa resorts, parks and entertainment precincts, mosques and international schools, premier retail malls and restaurants, as well as “Durrat Marina”. The $1.3 billion marina will cover an area of 700,000 square metres, provide berthing space for 400 boats and yachts. It will also host the Ras Al Barr Development, which is located to the south of Durrat Al Bahrain resort. The development will offer a range of waterfront housing options, themed hotels, retail and souqs, public waterfront and beaches, as well as community facilities, schools, parklands, and sport facilities.

Mr. Mahmood Ahmed Abdulrahman, the CEO of Durrat Al Bahrain, said: “This event is taking place at an important time for the region, with the real estate market in particular experiencing positive growth. Cityscape presents an opportunity for us to showcase future projects in Durrat Al Bahrain, including the high-end residential villa developments on Murjan 5 and 6 islands, and the Crescent Island, which constitutes the commercial hub of the island community. It will contain commercial complexes, residential towers and offices, which offer important new infrastructure options to the south of the island.

Manara Developments Company will be showcasing its $200 million major industrial zone development “Investment Gateway – Bahrain”. The 601,000 square metres project is located between Bahrain International Airport, Salman Industrial Area and the expressway linking to Mina Salman. Ninety per cent of the first phase-listed plots have been already sold.

Also exhibiting at Cityscape is Albilad Real Estate Investment Co. WL, the master developer of the Water Garden City, a mixed-use development along the northern coastline of Manama. The development comprises a marina, beach, gardens, marina promenade with waterfront fine dining restaurants, together with luxury duplexes, apartments, four hotels, and some offices.

Bahrain’s real estate market has experienced substantial growth over the last decade with total stock increasing from 200,000 square metres in 2000 to 536,000 square metres in 2010. Growth has been predominantly driven by strong population growth, increased domestic disposable income, and greater demand from Saudi Arabia and other GCC countries.

In 2014, the number of real estate transactions in Bahrain increased by 50% compared to 2013. Data from the Survey and Land Registration Bureau showed that the total value of transactions in 2014 was $3.44 billion.

According the Bahrain Economic Quarterly, in the first quarter of 2015, the construction sector achieved year-on-year growth of 7.5% and the hotels and restaurants sector achieved year-on-year growth of 3.5% (http://www.bahrainedb.com/en/EDBDocuments/BEQ-June-2015.PDF).

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Further information:
National Communications
Bahrain Economic Development Board
Tel: +973 17 589 966
Email: NC@BahrainEDB.com

Bahrain launches pavilion as Guest Country of Honour at CIFIT

Posted on by edbclient

September 08, 2015

Manama: Following the official visit of His Majesty King Hamad bin Isa Al Khalifa in September 2013, and a successful business roadshow held in October 2014, a high-level Bahrain delegation, organised by the Bahrain Economic Development Board (EDB) and led by His Excellency Zayed R. Alzayani, Minister of Industry and Commerce, is participating as Guest Country of Honour at the China International Fair for Investment and Trade (CIFIT) in Xiamen, the first ever Middle Easter country to be awarded that honour.
The Bahrain Pavilion, which opened today (September 8th) at CIFIT, showcases Bahrain’s business story, investment opportunities and the advantages Bahrain offers Chinese and international investors. CIFIT will give Bahraini businesses and Government officials the opportunity to engage in high-level talks and meetings with Chinese officials, private sector leaders and Chinese businesses looking to access the Gulf market. In particular, the EDB invites guests of CIFIT to the Bahrain Pavilion to learn more about the numerous investment opportunities in high growth sectors in which Bahrain can offer Chinese businesses significant advantages, including financial services, tourism, ICT, manufacturing and logistics.
The Bahrain Pavilion is organised by the EDB in cooperation with strategic partners Tamkeen, UNIDO, Bahrain Airport Company, Aluminium Bahrain (ALBA), Batelco, National Bank of Bahrain (NBB), Kuwait Finance House, and Al Salam Bank. Chinese companies Huawei and Chinamex are also participating in the roadshow. Bahraini SMEs representing sectors such as manufacturing, ICT and tourism among others are also featured at the pavilion.
A Bahrain China Business & Investment Forum will be organised on Tuesday September 9th, in Xiamen to showcase Bahrain’s investment opportunities. Key note speech will be delivered by HE Alzayani as well opening remarks by Mr. Khalid Al Rumaihi, Chief Executive of the EDB and His Excellency Dr Anwar Al-Abdulla, Ambassador of the Kingdom of Bahrain to China. The forum will also feature a panel discussion on the Kingdom’s business environment and will be moderated by Ms. Vivian Jamal, Executive Director of Marketing and Communications at the EDB. Panellists will include:  Dr. Samer Al Jishi, Managing Director of BFG International; Mr. Adel Al A’ali, Director of Haji Hassan Group; Mr. Paul Fengnan, Country Manager of Huawei Bahrain; Mr. Yousif Ali, Executive Director – Customer Service and Support Engagement at Tamkeen; and Mr. Hussain Al Hussaini, General Manager – Treasury Overseas & Investment Banking Group at National Bank of Bahrain (NBB).
The forum will see the signing of various agreements between the EDB and Chinese businesses, including Letters of Intent (LOIs) by two Chinese companies each announcing plans to establish operations in Bahrain to access the fast-growing Gulf market. The companies are:  Jinlou Water and World Wide Logistics.
Three MoUs will also be signed during the forum, with the first agreement between the Bahrain EDB and the China International Investment Promotion Centre- Xiamen aiming to strengthen trade ties between China and Bahrain. The Bahrain Chamber of Commerce and Industry (BCCI) and the China Council for the Promotion of International Trade – Fujian (CCPIT-Fujian), will also be signing an agreement of bilateral cooperation. The third MoU will be signed between the Bahrain’s Businesswomen Society and Xiamen Association of Women Entrepreneurs. The agreement looks to establish a practical frame work of cooperation for the empowerment and entrepreneurship of businesswomen of the private sector of the Kingdom of Bahrain and Xiamen.
The forum will also witness Chinamex signing of three MoUs during the forum in Xiamen, to provide logistic services to the Bahrain Dragon City, to be opened later this year. The agreements will have the companies involved in the development of the Bahrain Dragon City, including providing import and export services, building online sales network and e-commerce platform services to the tenants. The three companies are: Fujian Quanzhou Dragon City Import & Export Trading Company, Beijing Dragon Commerce Company, and China Dragon Mart Information Technology Company.
His Excellency Zayed R. Alzayani, Minister of Industry and Commerce, commented on the visit:
“Bahrain is keen to continue its bilateral cooperation with China and strongly supports China’s vision of ‘One Belt One Road,’ which aims to build a community of shared interests between the Arab world and China. This roadshow represents the perfect opportunity to further strengthen our commercial ties and we look forward to helping many more Chinese businesses to take advantage of investment opportunities that the fast-growing GCC market presents, by using Bahrain as a base for their GCC operations.”
Mr. Khalid Al Rumaihi, Chief Executive of the EDB said:
“China and Bahrain have been trading partners for thousands years and Bahrain was an important maritime hub along the first Silk Road. That relationship has continued to evolve, and today China is one of Bahrain’s most important trading partners. In fact, non-oil trade has grown from US$890 million in 2009 to more than US$1.98 billion in 2014.
Mr. Abdul Razak Al Qassim, Chief Executive Officer and Director of National Bank of Bahrain (NBB) commented:
“As Bahrain’s leading provider of retail and commercial banking services we are excited to be here in China to showcase Bahrain’s long history as an established financial centre for the Middle East. Bahrain’s more than 400 financial institutions and world-class regulation stand ready to assist Chinese businesses as they look to access new business opportunities in the Gulf.”
Commenting on the visit, Mr. Mohamed Yousif AlBinfalah, CEO of Bahrain Airport Company stated:
“Bahrain has been a pivot of trade connecting East and West for thousands of years and the country’s excellent land, sea and air transport links have played an essential role in developing Bahrain’s position as a prime ‘Gateway to the Gulf’.
“China is a very important trading partner for Bahrain and our strategic location has provided Chinese businesses with unrivalled access to the Gulf markets. Our participation in this event reflects the strong ties between our two nations and we look forward to showcasing our vision for the Kingdom’s aviation development and to explore new partnerships to further boost cooperation and trade.”
Mr. Ihab Hinnawi, Batelco Group Chief Executive officer, said:
“Bahrain has some of the most sophisticated ICT infrastructure in the Middle East and a liberal and competitive telecoms market. As Bahrain and other countries around the Gulf continue to strive to introduce new technologies an exciting opportunity exists for Chinese ICT and telecoms businesses, well-known around the world as pioneers of new technologies in this field.”
Bahrain’s open business environment has attracted international businesses from around the world looking to access the fast-growing GCC market, currently worth US$1.6 trillion and expected to reach US$2 trillion by 2020.
The Kingdom, known as the ‘Gateway to the Gulf’, has been a financial centre for the Middle East for over four decades and was the location of the Bank of China’s first representative office in the region. In ICT, Bahrain has some of the region’s most advanced infrastructure and regulation and is home to Huawei’s Middle East headquarters. Bahrain is also a logistics and manufacturing hub in the Gulf. Chinese manufacturers CPIC and MRS Fashion, a Hong Kong based garment manufacturing company, both have facilities in Bahrain, and the latter exports clothing to the US under the Free Trade Agreement between the two countries.
Tourism is another sector that is experiencing rapid growth in Bahrain. Between 2013 and 2014 more than 10 million people chose to visit Bahrain and tourism revenues grew 17.4%. In 2015 the Kingdom’s first Four Seasons Hotel opened for business. A number of other major tourism projects are also planned over the coming years, including new resorts by Fairmont Hotels & Resorts and One & Only.
The Bahrain delegation includes representatives from Bahrain Chamber of Commerce and Industry (BCCI), Al Zayani Investments, Haji Hassan Group, Al Arayedh Group Holding, BFG International, Projects Construction and AJM Kooheji Group among others.
The Bahrain EDB has an international office based at the Bahrain Embassy in Beijing with representation in Hong Kong, which provides information and support to interested investors in China.
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Notes to editors:
Further information:
National Communications
Economic Development Board
Tel: +973 17 589 966
Email: NC@BahrainEDB.com

Bahrain business delegation arrives in China for 10-day visit

Posted on by edbclient

September 07, 2015

Manama: Following the official visit of His Majesty King Hamad bin Isa Al Khalifa in September 2013, and a successful business roadshow held in October 2014, a high-level Bahrain delegation has begun a 10-day visit to China that aims to strengthen diplomatic and economic ties between the two countries.

The delegation, organised by the Bahrain Economic Development Board (EDB), is set to visit a number of key commercial centres in China including the provinces of Xiamen and the capital Beijing. Throughout the visit, Bahraini businesses and government representatives will engage in high-level discussions and meetings with Chinese officials and business leaders looking to access the Gulf market. The EDB will showcase investment opportunities in high growth sectors and areas in which the kingdom can offer Chinese businesses significant advantages, including financial services, tourism, ICT, manufacturing and logistics.
The delegation will take part in the China International Fair for Investment & Trade (CIFIT), opening September 8th, at which Bahrain will be the first Middle Eastern country to be the guest country of honour. The Kingdom’s pavilion will showcase Bahrain’s investment opportunities and the advantages Bahrain provides to Chinese and international investors.
The Bahrain Pavilion is organised by the EDB, in partnership with Tamkeen, the United Nations Industrial Development Organisation (UNIDO), Bahrain Airport Company (BAC), ALBA, Batelco, National Bank of Bahrain (NBB), Kuwait Finance House (KFH) and Al Salam Bank. The delegation will also include China’s Huawei and Chinamex in addition to Bahraini ICT and Tourism SMEs.
Mr. Khalid Al Rumaihi, Chief Executive of the Bahrain EDB said during the roadshow:
“Today, China is the second largest economy in the world and the third largest country investing abroad and this represents a great opportunity for Bahrain. China’s foreign direct investment reached its highest levels in the past decade, and is currently valued at USD $100 billion annually.”
“In the past two days ahead of the China International Fair for Investment and Trade (CIFIT), we have held meetings with officials from inside and outside of China to showcase investment opportunities in Bahrain.” Mr. Al Rumaihi added.
Mr. Al Rumaihi held a meeting with the Deputy Governor of Xiamen Madame Ni Chao focused on developing greater cooperation between the Kingdom of Bahrain and the People’s Republic of China, and the significance of choosing Bahrain as a guest of honor at the China International Fair for Investment and Trade (CIFIT). The meeting was followed by a press conference that was attended by Mr. Al Rumaihi and officials from the Economic Development Board (EDB), along with high ranking Chinese officials including Mr. Chen Lu, Deputy Director General of Publicity Department of the Party Committee of Fujian Province and Director General of the Press Office of Fujian Government; Madame Ni Chao and  Mr. Bao’an Feng, Deputy Director General of the Commerce Department of Shaanxi Province to announce the exhibition details.
Madame Ni Chao confirmed during the press conference that the Kingdom of Bahrain along with 20 other countries have been invited to participate at the China International Fair for Investment and Trade (CIFIT). Invited countries include: Kingdom of Saudi Arabia, United Arab Emirates, India, Malaysia and Singapore amongst others. She also added that this year’s exhibition will focus on the financial services sector and cooperation between international financial centres including Bahrain, a leading financial centre in the GCC and the Middle East.
The Chief Executive of the Economic Development Board (EDB) held a series of separate working meetings with the Deputy Minister of International Trade and Industry of Malaysia, Mr. Dato ‘Seri Ong Ka Chuan and his accompanying delegation, Her Excellency Madam Wang Lixia, Vice Governor of Shaanxi Province and high ranking officials from Guangdong Automobile (GAC).  A meeting was also held with His Excellency Li Yong,  the Director General of The United Nations Industrial Development Organisation (UNIDO), where Mr. Al Rumaihi delivered a speech at the new Silk Road development symposium “Sea Meets the Land”.
The Bahrain EDB has an international office based at the Bahrain Embassy in Beijing and in Hong Kong, which provides Chinese investors with the necessary support and information about accessing Bahrain’s market.
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Further information:
National Communications
Bahrain Economic Development Board
Tel: +973 17 589 966
Email: NC@BahrainEDB.com

Bahrain ranked 1st in the Middle East & 5th in the Middle East & Africa for cost competitiveness and FDI strategy

Posted on by edbclient
September 02, 2015

Manama: The fDi Middle East & African Countries of the Future Rankings for 2015/16, prepared by fDi Intelligence – a division of the Financial Times, has ranked Bahrain fifth overall, out of 63 countries, in a report released earlier recently.

The rankings, compiled every two years using a detailed methodology, were based upon five categories: economic potential, business friendliness, human capital and lifestyle, cost effectiveness, and connectivity. A sixth category, FDI strategy, was based on additional qualitative research and analysis.
Manama was ranked in the top eight for all the categories, and ranked first overall for cost effectiveness and third overall for business friendliness. Bahrain also ranked first for FDI strategy, with the report recognising that since its creation, the Bahrain Economic Development Board (EDB) has “operated to attract investment, help investors realise projects and ensure they are assisted once established.” According to fDi Intelligence data, the EDB helped attract 190 FDI projects to Bahrain between 2009 and 2014.Mr. Khalid Al Rumaihi, Chief Executive of the Bahrain EDB, commented:

“We are pleased that Bahrain has once again been recognised as the most cost-effective destination in the region. With a well-educated domestic workforce, minimal restrictions on foreign investment and ownership in most sectors and a highly competitive taxation system, it is a reputation that is well deserved.”“Bahrain’s strong economic growth has been built on a tradition of openness which comes from the Kingdom’s long history as a regional commercial hub.  Many leading international companies continue to choose Bahrain and we strive to create the supportive, low-cost environment that will allow those businesses to thrive.”

According to the UNCTAD World Investment Report 2015, total FDI to Bahrain last year reached $957 million. Bahrain’s inward FDI stocks as a percentage of GDP (55.4%) remained the highest in the GCC and well above the global average, emphasising Bahrain’s position as one of the region’s most open economies.
The full Middle East & African Countries of the Future Rankings report can be found on the fDi Intelligence website: http://www.fdiintelligence.com/.
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Further information:
National Communications
Economic Development Board

Tel: +973 17 589 966
Email: NC@BahrainEDB.com

EDB embarks on China roadshow to promote Bahrain

Posted on by edbclient

August 25, 2015

Manama: A high-level business delegation, organised by the Economic Development Board (EDB), will travel to China in September to meet with Chinese political and private sector leaders. The visit aims to further strengthen fast-growing trade and business ties between the two countries and promote Bahrain’s unique investment environment.

The delegation will visit four major commercial cities in China including Xiamen and Beijing.  In each location the EDB will showcase how Chinese businesses can capitalise on Bahrain’s strategic location along a modern day Silk Road, a new economic corridor envisioned under China’s flagship economic policy ‘One Belt, One Road’ which connects China to central and western Asia and beyond. Specifically the EDB will be promoting investment opportunities in high growth sectors in which Bahrain can offer Chinese businesses significant advantages, including financial services, tourism, ICT, manufacturing and logistics.
The delegation will also attend the China International Fair for Investment & Trade (CIFIT), at which Bahrain will be the guest country of honour, the first in the Middle East to receive the title. At CIFIT Bahrain will have a pavilion which is organised by the EDB in cooperation with strategic partners Tamkeen, Bahrain Airport Company, Aluminium Bahrain (Alba), Al Salam Bank, Kuwait Finance House (KFH), Batelco and National Bank of Bahrain (NBB). Chinese companies Huawei and ChinaMex are also participating in the roadshow. The delegation will also be attending the China-Arab States Expo, the biennial gathering between China and Arab countries.  In Beijing an ‘Invest in Bahrain Forum’ will be held.
Mr. Khalid Al Rumaihi, Chief Executive of the Bahrain EDB, said:
“Bahrain has been a trading outpost along the old Silk Road connecting the Gulf to the world for thousands of years, and the history of this long trading relationship between Bahrain and China can be found at many of the archaeological sites around the Kingdom.
“Today Bahrain aims to continue this cooperation and strongly supports China’s vision of ‘One Belt One Road,’ and offers unique opportunities for Chinese companies looking to access the Gulf market. In Bahrain Chinese investors will find the freest economy in the Middle East and an established financial and commercial hub for the region.”
Shaikh Mohammed bin Isa Al Khalifa, Chairman and Acting CEO, Tamkeen, said:
“We are very proud of all the Bahraini entrepreneurs and SMEs visiting China. Bahrain’s vibrant business environment and skilled local workforce are both significant differentiators for the Kingdom in its region. We look forward to seeing them showcase these features to the business community in China, and at the same time provide an access for our talented entrepreneurs and ambitious small businesses to one of the world’s biggest market economies.”
Dr. Hashim Hussein, head of the United Nations Industrial Development Organisation (UNIDO) in Bahrain, said:
“It gives us great pleasure that the Kingdom of Bahrain has been selected as the Country Guest of Honor to the 19th China International fair for Investment & Trade. This is attributed to Bahrain’s strategic role as a gateway for mobilizing foreign direct investment and trade facilitation between the countries of the Maritime and Continental Silk Road.
Bahrain’s welcoming business environment and skilled workforce contributed to the growth of the country’s economy and success of its business story. Having some of the lowest operating costs in the region and tried and tested regulations that meet international standards also the best practice worldwide implemented for the development of entrepreneurs and micro, small and medium enterprises in Bahrain. A report by KPMG Fakhro in 2014 estimated that entrepreneurs and SMEs contribute 28% to the Kingdom’s GDP, 73% of employment and more than 90% of total business.”

Mr. Tim Murray, CEO of Aluminium Bahrain (Alba), said:

“Bahrain’s farsighted economic policies, favourable tax environment, ability to have 100% foreign ownership for most business categories coupled with being one of the lowest in the region in terms of operating costs, have largely contributed to the development and growth of the Kingdom’s manufacturing sector. Opportunities for investment in the aluminium sector are now stronger as work is underway for Alba’s Line 6 Expansion Project. Expected to begin production in early 2019, Line 6 will add 514,000 metric tonnes upon full ramp-up and will bring Alba’s total production capacity to approximately 1,450,000 metric tonnes per year making it the largest single site smelter in the world upon completion.”
Trade between China and Bahrain has been expanding rapidly. In 2014 non-oil trade stood at US$1.98 billion, up from US$890 million in 2009. A number of Chinese businesses are already using Bahrain as the hub for their regional operations, such as Huawei, the global networking and telecommunications company.
Such economic ties mark the trade relations the two nations had for thousands of years, along the Silk Road and of which the 21st Century Maritime Silk Road recognises Bahrain as a vital investment destination granting unrivalled access to the Gulf. In the past Bahrain traded pearls, dates, and copper, and imported silk and musk from China. In modern times, with its transport infrastructure that allows for excellent connectivity across the region, Bahrain is perfectly positioned to carry the Silk Road vision forward.
Bahrain’s open business environment has attracted international business from around the world looking to access the fast-growing GCC market, currently worth US$1.6 trillion and expected to reach US$2 trillion by 2020. Bahrain has the freest economy in the Middle East and North Africa according to the Heritage Foundation’s 2015 Index of Economic Freedom.
Several leading Chinese companies with offices or facilities already established in Bahrain include: China Harbour Engineering Company Ltd, China CommService, Huawei, Bank of China, Beijing Jangho Curtain Wall Co. Ltd, Daily Wealth Limited, ChinaMex, Wuhan Lingyun Building Decoration Engineering Co and CPIC.
The EDB’s efforts to promote business opportunities in Bahrain were evident in its establishment of an office in Beijing in China, with aims of showcasing the possibilities the Kingdom has to offer Chinese businesses looking to expand onto the region.
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Notes to editors:
Further information:
National Communications
Economic Development Board
Tel: +973 17 589 966
Email: NC@BahrainEDB.com
About The Bahrain Economic Development Board (EDB)
The Bahrain 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 tourism, ICT, manufacturing 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
Location Find our offices
Phone +973 17 58 99 99
Contact Contact Bahrain EDB
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