Bahrain secured investments of over $1.7 billion in 2023, up 55% from 2022, through the country’s Economic Development Board (Bahrain EDB).
According to the statement, these investments, stemming from 85 local and international projects, are expected to create more than 5,700 jobs over the next three years, driving economic diversification and sustainable growth.
The financial services sector attracted investments, showcasing its strength and resilience by surpassing oil and gas as the most significant contributor to Bahrain’s economy, accounting for 17.5% of real GDP. Meanwhile, the Information and Communication Technology (ICT) sector also saw substantial investment, fuelling innovation and digital transformation efforts across various sectors.
Manufacturing, tourism, and logistics sectors also experienced significant investment, leveraging Bahrain’s strategic location and cultural appeal to attract investors. Khalid Humaidan, Governor of the Central Bank of Bahrain, hailed 2023 as a milestone year, emphasizing the role of these investments in driving sustainable economic growth and providing employment opportunities for the local workforce.
“Bahrain’s FDI stock relative to GDP is well above the global average rate at around 82%, which stands as a testament to the robust trust investors place in Bahrain’s competitive value proposition, said Humaidan. “FDI remains a strong contributor to Bahrain’s continued success story as an agile, steadily growing, and diversified economy.”
