The investment promotion agency of the Kingdom of Bahrain surpassed targeted investment by attracting a whopping close to 1 billion USD in foreign direct investment in 2020, despite the adverse economic impact of covid 19 pandemics.
The Bahrain Economic Development Board (EDB), responsible for promoting Foreign Direct Investment (FDI) in Bahrain particularly focuses on attracting FDI in Manufacturing, Information Technology, Communication, Logistics, Tourism, Financial Services and Leisure sectors.
It goes without saying that the economic impact of the Coronavirus pandemic has been felt on a global scale. Consequently, this has created a number of unprecedented challenges for hundreds, if not thousands of businesses in Bahrain and throughout the Middle East.
There are seven IT companies that are interested in investing approximately $3.1 million or 210 crore rupees for Bahrain company formation.The monetary investment will help to improve Bahrain’s technology and communication.
Bahrain has become a huge attraction for investment opportunities in the past few years. As per the World Bank’s report in 2019 on doing business in Bahrain, the Kingdom has ranked as one of the best places for doing investment and it continues to make the most of it.