Manama, The Foreign Direct investment (FDI) flows to the Kingdom of Bahrain soared to $1,766 billion in 2021, which represents an increase of 73% on an annual basis, thus exceeding the global average growth of direct investments.
According to the World Investment Report 2022 issued by the UN Conference on Trade and Development (UNCTAD), the volume of cumulative direct investments incoming to Bahrain increased by 6% compared to 2020, to reach $33.47 billion in 2021, while the Kingdom’s gross domestic product amounted to $38.8 billion in 2021 (iGA figures).
Bahrain’s stock of direct investment stood at 86% compared to the GDP, which puts Bahrain at the forefront of the Gulf Cooperation Council (GCC) countries, thus exceeding the global average of 47%.
In 2021, investments focused mainly on the financial services, manufacturing, and mining industries, according to the Bahrain Information and e-Government Authority (iGA).
“We are proud of the growth we achieved in 2021, and we strive to accomplish greater development by attracting more direct investments in a number of diverse economic sectors in parallel with the objectives of the economic recovery plan.”, said Economic Development Board (EDB) Chief Executive Officer Khalid Humaidan.
It should be noted in this regard that the EDB managed in 2021 to attract $839 million in direct investments to Bahrain through a number of successful projects that are expected to create a total of 4,861 jobs in the local market, including the first technology center for Citi in the Middle East and and North Africa (MENA) region.
Source: Bahrain News Agency