Saudi trade chamber chief hails Bahrain’s resilience

Bahrain’s attractive investment regulations make it an ideal destination in the Gulf for foreign investors, said Abdullah Al-Mobty, president of the Council of Saudi Chambers.
Bahrain, which has a vibrant and booming economy, can greatly benefit foreign investors as well as local and regional businessmen, he said.
Al-Mobty, who is also the vice chairman of the Federation of GCC Chambers, was addressing the “Invest in Bahrain 2013 and Forum” in Manama.
Shaikh Ali bin Khalifa Al-Khalifa, deputy premier of Bahrain, inaugurated the event on behalf of Prime Minister Shaikh Khalifa bin Salman Al-Khalifa,
The two-day event, organized by Ministry of Industry and Commerce, was held at the Bahrain International Exhibition and Convention Center.
“Such forums, would bring the GCC member countries to work together in unity to promote their respective trade in the region,” he said.
He said new projects would create job opportunities for local population and would further strengthen the regional economy.
He also pointed out that foreign direct investment flowing into Bahrain rose by 14 percent in 2012 compared with the previous year.
Bahraini exports has also risen from $13 billion in 2007 to $23 billion in the year 2012.
The first edition of the ‘Invest in Bahrain’ Forum took place in 2003 and subsequent editions were held in successive years. The last edition was in October 2012.
In his speech, Shaikh Ali bin Khalifa Al-Khalifa stressed that Bahrain, witnessed successes in attracting local and foreign investments to ensure better living standards for citizens, and strengthen its efforts to diversify the sources of income by providing job opportunities for citizens.
Shaikh Ali also said the government had set up a strong and a solid economic foundation which qualified Bahrain to be an attractive destination for investment in the region through sustainable efforts to develop the infrastructure and improve the industrial areas.
He said the government had adopted a number of procedures and edicts to ensure that procedures are facilitated for investors so that they could complete their transactions without unnecessary delays.
Shaikh Ali bin Khalifa Al-Khalifa welcomed all private sector initiatives aimed at revitalizing national economy.
He highlighted the growing importance of exhibitions and conferences in attracting more investments. Such actions bolster the government’s efforts in ensuring an efficient investment climate in Bahrain.