Under the patronage of Industry and Commerce Minister Dr. Hassan Fakhro, ‘Investment Opportunities & Real Estate from around the World in Bahrain’ Conference is opened at the Sofitel Bahrain Zallaq. The event is organized by Al Dana & Ferguson Partners.
During the opening ceremony, Dr. Fakhro delivered a speech confirming that Meetings, Incentives, Conferences, and Exhibitions (MICE) Industry in Bahrain is thriving, due to Bahrain’s central position in the Middle East and our country’s welcoming, cosmopolitan and well regulated environment as one of the world’s freest economies.
It is perhaps not at all surprising that the Ministry of Industry and Commerce’s own annual ‘Invest in Bahrain’ event is so very well attended with a large number of participants from across the region and indeed from other parts of the world; Bahrain simply has so much to offer; and I say that not only for the investment opportunities that exist in the domestic economy, but for using Bahrain as a gateway for investment in the GCC and the greater Middle East and North Africa (MENA) region.
He added, “The sustained economic growth and development which Bahrain has achieved over these past years, is due in no small measure to the vision and foresight of His Majesty King Hamad Bin Isa Al-Khalifa in steering the nation along the path of inclusiveness, modernity and stability, and to the stewardship of their Highnesses Prime Minister Prince Khalifa Bin Salman Al-Khalifa, and Crown Prince Salman Bin Hamad Al-Khalifa, in their direction of the economic, commercial and social policies of our country, which in turn has resulted in, and created the enabling environment to attract inward investment.”
One of the main advantages that Bahrain offers to discerning foreign investor is the quality of its’ labour force, which when combined with the country’s strategic geographic position and its excellent communication and political links with its neighbors and internationally, plus the excellent cosmopolitan lifestyle, is an unbeatable formula. Our Free Trade Agreement with the United States is also an important pull-factor for those investors looking to take advantage of the agreement to export to the United States from a manufacturing facility in Bahrain.
Dr. Fakhro affirmed, “Bahrain has become to be the most mature, well-established business hub in the Gulf, providing the most free, open, liberal, transparent environment for businesses and communities, and has maintained its position as a globally competitive base for business thanks to its focus on sustainability, skills, and good governance. We have the lowest inflation rate in the region, the lowest business costs, one of the highest Business Friendly ratings in the world; an unemployment rate at less than 5%, a GDP per capita of around US$28,000, an economy predicted to grow at about 5% this year – and we have done all of this without resorting to taxation, at the same time providing our people with free education, health and housing- and we will continue to improve every facet of the economic, social and political environment in Bahrain for all residents – and for you the investors to whom we offer our warmest welcome. In fact some survey’s rate Bahrain as the second most chosen by expatriates as their location.”
He noted, “The conference organizers have included in the programme of events for a day of getting to know Bahrain, and I trust that your visits yesterday have served to whet your appetite, and that the conference to-day, together with the networking opportunities that are provided, will not only create an interest in property investments that abound in Bahrain, but will also get you thinking about what Bahrain can offer you as foreign investors over the whole spectrum of industry and commerce, not simply investment in property.”
The proposed new Exhibition City which is a venture anticipated to come online with a total investment of some $1.5bn; we also continue to study the possible establishment of a game changing new Economic and Industrial City as a new paradigm for our future development, and to underpin the success of Vision 2030.
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Khawla Othman Al zayani
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Tuesday, June 24- 2014 @ 9:59 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.