Bahrain has attracted over $100 million in investment commitments from Singapore-based companies since November 2023. This significant milestone was announced by the Bahrain Economic Development Board (Bahrain EDB) at the Singapore Fintech Festival 2024.
These investments span key sectors including financial services, ICT, and tourism, marking a notable achievement for Bahrain EDB’s international outreach. The Singapore office, established a year ago as Bahrain EDB’s first in the ASEAN region, has been pivotal in securing these commitments.
“This milestone achievement is a testament to the impact and agility of our ‘Team Bahrain’ approach,” said Sustainable Development Minister and Bahrain EDB chief executive Noor bint Ali Alkhulaif.
“Both the public and private sectors work in tandem to ensure Bahrain’s investment environment remains attractive, defined by forward-looking regulatory frameworks and streamlined services.”
Bahrain’s strategic position in the Arabian Gulf, combined with its openness and cultural diversity, continues to make it an attractive destination for international investors. The island nation boasts a highly skilled talent pool supported by government grants and subsidized programmes. Women make up 34 per cent of the financial services and insurance sector, reflecting Bahrain’s inclusive workforce.
“Bahrain has always been a hub for innovation and financial services,” said Bahrain EDB Financial Services executive director Dalal Buhejji.
“The Central Bank of Bahrain has been pivotal in introducing robust regulatory frameworks, including regional firsts in crypto assets and open banking. Beyond this, businesses benefit from a future-ready workforce that blends local talent with a diverse expat community.”
As the first Gulf nation to diversify its economy, Bahrain’s financial services sector remains a cornerstone of its growth, contributing nearly 17pc to real GDP as of 2023. The sector is home to a variety of international banks, financial institutions, fintechs, and new digital asset firms, including Singapore-based companies like Whampoa Group’s Singapore Gulf Bank and Crypto.com, which have recently set up operations in Bahrain.
The Bahrain EDB’s Singapore office provides on-the-ground support, offering advisory services to Singaporean investors and businesses looking to expand into Bahrain. Positioned as a gateway to the Middle East and North Africa (MENA) region, Bahrain EDB offers comprehensive support, including market insights, industry assessments, and connections with key decision-makers in Bahrain’s public and private sectors.
