Governments in the Middle East have been working hard in order to attract foreign direct investment (FDI) into their respective countries. With many initiatives and incentives, the countries hope to lure foreign companies to settle in their country, which in turn brings jobs, investments, and other positive developments with them. This creates a multiplier effect, which means that companies also have indirect benefits for the country that they choose to settle in. Hence, it is very important for governments everywhere, and thus in the region, to attract foreign capital and create these economic benefits for the government and its citizens.
The Bahrain Economic Development Bank (EDB), which was set up for investment promotion agency with overall responsibility for attracting investment into the Kingdom, recently announced that it had attracted 92 foreign companies and investments worth over US$830 million in 2018 alone. These figures paint a positive picture for the Kingdom, as it is expected that roughly 4,700 jobs will be created due to this influx.
Learn more about the initiative, as well as what His Royal Highness had to say about the accomplishment by EDB, here.