The Kingdom of Bahrain offers the region’s lowest operating costs for the financial sector, the Chief Executive of the Economic Development Board (EDB), Mr Khalid Al Rumaihi said.
He was speaking during the monthly ‘@ the majlis’ event held at the Capital Club. The networking event, attended by Club Members, focused on the EDB’s strategic aim to attract regional and international investments to the Kingdom.
“Bahrain presents benefits for businesses seeking to build a regional presence or to develop back-office operations. The Kingdom also offers a strong value proposition and skilled local workforce coupled with an established regulatory framework,” he said.
Mr Al Rumaihi also said that Bahrain’s non-oil sector grew in 2015 further cementing its resilience in spite of the challenges faced last year. Also a series of economic reforms and infrastructure projects worth more than $32billion has been announced to increase investment and maintain growth in the Kingdom.
“This has helped to reassure investors and the business community that Bahrain’s economy is steady. This is largely due to the diversification strategy which was rolled out recently,” he added.
“We are now focusing on four pillars of growth; Tourism, ICT, Entrepreneurship and Logistics. We strongly believe that the four sectors will be able to drive Bahrain’s diversification strategy and further develop the economy,” he added.
Commenting on monthly @majlis event, Dina Haikel, General Manager of Capital Club Bahrain, said, “We are delighted that the CE of the Economic Development Board, Mr Khalid Al Rumaihi accepted our invitation to speak at our event. The event was launched last year and has since been successful in bringing Club Members together with key decision makers in the Kingdom to network and discuss the latest economic and business issues.”