抖阴短视频

MANAMA: Gulf countries鈥� success in attracting foreign investments is a win-win for the region, a senior business strategy expert has told Arab News.

In an interview on the second day of the Bahrain International Airshow, Nada Al-Saeed, chief of strategy at the Bahrain Economic Development Board, described the Middle East鈥檚 growing ability to attract funding as 鈥渇antastic,鈥� noting that it brings greater attention to the region.

In 2023, 抖阴短视频 secured foreign direct investment inflows of SR96 billion ($25.6 billion), 16 percent higher than its target amount, while Bahrain received a record $1.7 billion over the same period, marking an 55 percent annual increase.

鈥淲hen 抖阴短视频 or the UAE does very well, it means that we could also benefit from that. I think that we often see the region as very competitive. I like to see it as a very collaborative and I think that everybody could benefit. If the pie gets larger, each individual鈥檚 share will also get larger.鈥� she said. 

Reflecting on Bahrain鈥檚 FDI increase, Al-Saeed said that figure relates to the Economic Development Board鈥檚 achievements.

鈥淚f we are looking at the foreign direct investments鈥� statistics and results, we will see Bahrain actually attracted a much larger number than that, but this represents a record number for the EDB,鈥� she said.

Al-Saeed noted that funding secured in 2023 went to investment projects across all of Bahrain鈥檚 priority sectors, which include financial services, communication and technology, and manufacturing, as well as logistics and tourism,

鈥淭hese are the key priority non-oil sectors identified by the government, and they are the focus of the EDB. The board has dedicated teams for each sector to promote and attract investments in these areas,鈥� she said.

She also said that these projects have contributed to job creation in the country, and she expected this investment trend to continue.

Explaining how her organization鈥檚 strategy aligns with the country鈥檚 economic vision for 2030, Al-Saeed said that the EDB, as the nation鈥檚 investment promotion agency, works very closely with a wider ecosystem of stakeholders known as 鈥淭eam Bahrain.鈥� 

This group has tailored its investment promotion strategies to mirror the government鈥檚 national economic plans.

鈥淏ack in October 2021, the government launched the economic recovery plan where it identified key priority sectors, and the EDB aligned to that in order to ensure that we operate as a cohesive unit, and we are able to attract the right investments that will further stimulate the development and growth of our country,鈥� the chief officer said.

Discussing the unique advantages Bahrain offers, Al-Saeed highlighted the country鈥檚 success over the past decades in attracting regional investors that now play a vital role in the nation鈥檚 economy.

鈥淚f we look at our foreign direct investment statistics, we will see the majority of our foreign investments come from the GCC region, and that is predominantly in the financial services sector, and this is a trend that we have seen since the 70s, where Bahrain managed to attract a lot of regional capital in the financial services sector from 抖阴短视频, Kuwait, the UAE, and others, of course.鈥� she said.

鈥淭here are many advantages because we treat GCC investors like Bahrainis when it comes to the processes of establishing business activities,鈥� Al-Saeed added.

In addition, Bahrain has a wide range of incentives that are offered to investors.

One of these is the work of the country's labor fund, Tamkeen, which offers businesses the opportunity to support hiring local talent, as well as training and upskilling them to meet the needs of those companies.

Al-Saeed highlighted recent regulatory changes aimed at making Bahrain more attractive to global businesses and startups, and emphasized that significant efforts have been made to ensure the state remains both competitive and conducive to investments and business growth.

鈥淢aybe one of the key, or most recent initiatives that is worth highlighting, is the Golden License program that was launched back in April 2023, which aims to provide streamlined services to strategic investment projects that are valued at $50 million or that creates 500 jobs here in Bahrain,鈥� she said.

The chief officer added that through this initiative, projects and companies can benefit from expedited services when it comes to getting approvals, licenses or even access to decision makers. 

鈥淭his has been very instrumental in terms of ensuring that we provide high-class services to investors,鈥� said Al-Saeed, noting that nine projects have been granted Golden License status since the initiative was launched.

She further said that the total of those projects is valued at $2.4 billion, with investors coming from various sectors and different regional and global countries, including Bahrain.

In response to a question about the role of the aviation sector in the EDB鈥檚 investment strategy,  Al-Saeed stated that it helps create a conducive investment environment, as it is what connects Bahrain with the rest of the world.

鈥淭his is not just in terms of the movement of people but also in transporting goods and service through air cargo. So, it is very important; as we do not target just the market that is within our geographic boundaries, but we aim to serve a much wider area and catchment area,鈥� she said.