MANAMA, Bahrain, July 7, 2023 /PRNewswire/ -- Securing a new record, Bahrain's Foreign Direct Investment (FDI) inflows increased by USD 1.95 billion in 2022 while global FDI fell by 12%, according to the latest World Investment Report (WIR 2023) by the United Nations Conference of Trade and Development (UNCTAD).
Commenting on this achievement, H.E. Khalid Humaidan, Chief Executive of Bahrain Economic Development Board, said: "This milestone achievement of almost USD 2 billion in FDI inflows reflects the robust level of investor confidence in Bahrain's value proposition, encouraging local and international investments that are backed by a highly skilled workforce and best value operating costs serving as a gateway to the region."
The Chief Executive added: "This record increase in FDI inflows is supported by Team Bahrain's swift agility in successfully driving in solid investments and securing value-adding projects across priority sectors. I am confident in our ability to maintain a strong pipeline of investments in 2023 and beyond."
Bahrain has made laudable progress in diversifying its economy, growing opportunities for local and international businesses and maintaining steady investor confidence, as well as consistently increasing the Kingdom's FDI inflows.
While economic diversification efforts have long been underway in Bahrain, the Economic Recovery Plan (ERP) formed in 2021 embraced a focused development plan with an overarching aim of enhancing Bahrain's competitiveness on an international level by reprioritising the economy and underscoring strategies across high value sectors.
To ensure the Kingdom remains an attractive destination for investment, Bahrain has recently launched the Golden License as well as continues to maintain an ongoing commitment to streamline commercial procedures on a regulatory front, further boosting Bahrain's business-friendly environment.
The full version of the UNCTAD World Investment Report 2023 report is accessible at the following website https://unctad.org/publications
About Bahrain Economic Development Board (Bahrain EDB)
Bahrain EDB is an investment promotion agency with the overall responsibility of attracting investment into the Kingdom and supporting initiatives that enhance the investment climate.
Bahrain EDB works with the government and both current and prospective investors, to ensure that Bahrain's investment climate is attractive, to communicate the key strengths, and to identify where opportunities exist for further economic growth through investment.
Bahrain EDB focuses on several economic sectors that capitalise on Bahrain's competitive advantages and provide significant investment opportunities. These sectors include financial services, manufacturing, logistics, ICT, and tourism.
For more information on Bahrain EDB visit www.bahrainedb.com