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Investments to generate more than 1,200 jobs in the next 3 years
The Bahrain Economic Development Board (Bahrain EDB), subsidized through Team Bahrain, attracted $290 million (BHD 109 million) in direct investment in the first 3 quarters of 2022.
It is through the creation and creation of 25 production and logistics in the kingdom.
The investments are to generate more than 1,200 jobs in the next 3 years.
Expanding corporations in Bahrain come with FedEx, BASF and Racing Force International. Meanwhile, new corporations entering Bahrain come with Bahrain Sugar Refinery, Hoover Circular Solutions and K. K. C. Industry (iCool).
Ahmed Sultan, Executive Director of Business Development for Manufacturing and Logistics at Bahrain EDB, said: “We are very pleased to see foreign production and logistics corporations establishing and expanding in Bahrain, reaping benefits from the Kingdom’s strategic location, allowing them to tap into the $1. 67 GCC market. Manufacturing and logistics are among the priority sectors for us and as a component of the economic recovery plan for long-term expansion and employment in the kingdom.
The productive sector is a constant contributor to the economy, accounting for more than 13% of GDP and a key driving force for the kingdom’s economic diversification, sustainability and long-term success.
Manufacturers and logistics corporations gain advantages from duty-free industry through Bahrain’s FTAs with 22 countries around the world, adding the first U. S. FTA. UU with a member of the GCC.
Overall, Bahrain EDB attracted $921 million (BHD 348 million) in direct investment from 66 corporations in the first months of the year.
The investments are expected to generate more than 4,700 jobs in the next 3 years in key sectors, adding monetary services, ICT, logistics, production and tourism.
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