Bahrain's position as a regional leader for foreign investment has been confirmed after it was ranked number one in the GCC for inward foreign direct investment in the World Investment Report announced recently at the United Nations Conference on Trade and Development in Geneva.
The report was regionally launched from Bahrain and was hosted by the Economic Development Board and MENA OECD Investment Center at the Diplomat Radisson Sas Hotel Residence and Spa.
Bahrain - internationally recognised as having the most open and liberal economy in the Middle East - was rated above fellow GCC states by the 2008 World Investment Report, which ranks countries by the Foreign Direct Investment they receive relative to their economic size.
The announcement builds on Bahrain's reputation as the most attractive country in the region for foreign investment due to the economic reforms that have been introduced in recent years to diversify the economy and encourage private sector growth, creating the best business conditions for international companies looking to establish a Gulf presence.
Shaikh Mohammed bin Essa Al-Khalifa, Chief Executive of the Bahrain Economic Development Board, commented: 'This report reflects the great strides Bahrain has made towards modernising and liberalising our economy, with substantial investment in creating sustainable industries and economic activities such as the automotive, telecoms and financial services sectors. Bahrain is proud of its record as a leading destination for business and finance. It is the gateway to the Middle East and we will continue to forge a diverse, vibrant economy fully equipped for the demands of the world economy in the 21st century.'
The roots of Bahrain's success lie in its unique social and economic attributes: the Kingdom's economy is recognised as the most free and diverse in the Middle East and its society as the most liberal, together with its strategic location in the Gulf allowing rapid access to Qatar and Saudi Arabia and strong trade links with booming South Asian economies. Bahrain is ideally suited to foreign companies looking to access lucrative Gulf markets It is distinctions such as these and its skilled Bahraini workforce and cost competitiveness that make Bahrain a primary destination for foreign business, foreign investment and expatriates.
