Bahrain’s FDI surge generates $439m and 2,091 new jobs

TDT | Manama

The Daily Tribune - www.newsofbahrain.com

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Bahrain’s economy continues to attract significant foreign investment, with the Arab Investment and Export Credit Guarantee Corporation (Dhaman) reporting a strong performance in the first half of 2024.

The Kingdom secured nine foreign direct investment (FDI) projects, totaling $439 million and generating 2,091 new jobs.

This positive trend reflects Bahrain’s commitment to fostering a business-friendly environment and attracting diverse investments.

The Kingdom’s strategic location, robust infrastructure, and commitment to economic diversification have made it an attractive destination for international investors.

High-value investments

While the UAE led the region with 607 FDI projects and Egypt topped the list in terms of investment value at $20.5 billion, Bahrain’s success highlights its ability to attract high-value investments.

The UK emerged as the largest investor in the region with 128 projects, while the US ranked first in terms of investment cost with over $6.8 billion for the same period, the report highlighted.

Globally, FDI in the first half of 2024 focused heavily on digitalisation and renewable energy, reaching a combined value of $138 billion.

Oil and gas sector

The report also highlighted the significant role of the oil and gas sector in the Arab region, with Arab countries recording around $406 billion in foreign investments over the past 22 years.

This sector attracted 610 projects, implemented by 356 foreign and Arab companies.

The report further identified the UAE, Saudi Arabia, Qatar, Bahrain, Iraq, Egypt, Kuwait, Oman, Algeria, Mauritania, Libya, Tunisia, Sudan, and Yemen as the best Arab countries in terms of lower risks and higher incentives for investment in the oil and gas sector.

This assessment was based on Fitch’s 2024 analysis, considering key indicators such as country and industry risks and incentives in the exploration, production, and refining stages.