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What has happened? Bahrain's efforts to further diversify its economy and increase foreign direct investment (FDI) inflows have already started delivering results, according to the report released by global research and advisory firm Oxford Business Group.
Numbers. The report says the country’s FDI inflows surged by 5.82 percent or $1.95 billion to $35.43 billion in 2022 compared to 2021 where it was worth $33.48 billion.
Bahrain is also showing clear signs of recovery from the pandemic, according to the OBG study. The country reported a GDP growth rate of 4.9% in 2022, compared to 2.2% in 2021.
Quote. “Bahrain benefits from several competitive advantages, including a strategic location that makes it a natural a gateway into regional markets and a favorable business environment,” said OBG’s Managing Director for the Middle East Jana Treeck.
Context. The country's guiding plan, Bahrain's Economic Vision 2030, aims to boost private sector growth, along with promoting government investments in infrastructure, affordable housing, human resource development and digital transformation.
Bahrain is also introducing a series of policy reforms to attract investment in promising sectors, including tourism, information and communication technology, logistics and financial technology.
Source: Arab News
Photo by Charles-Adrien Fournier on Unsplash
