Gateway Gulf 2024 Kicks Off in Bahrain, Showcasing GCC’s Leading Investment Projects

This significant transformation reflects Bahrain’s commitment to sustainable growth through its strategic focus on non-oil sectors, ensuring the kingdom remains at the forefront of regional economic innovation. As the Chairman of Mumtalakat, Bahrain’s sovereign wealth fund, Shaikh Salman highlighted the importance of competitive capital allocation, noting, “We consistently seek the best investment opportunities that yield the highest return on equity, both in Bahrain and the region. Proximity to investment opportunities creates positive outcomes.”

Indian-Bahraini Partnership

In a sideline interview with the Daily Tribune, Indian Ambassador to Bahrain, H.E. Vinod K Jacob, praised the robust economic ties between India and Bahrain, noting a 40% increase in Indian investments in Bahrain. "India’s investment in Bahrain amounted to $265 million in Q2 2023-2024, making India the sixth-largest investor in the kingdom. This reflects the strong and mutually beneficial trading partnership we share," said Ambassador Jacob. He underscored that both nations are "very strong partners with win-win outcomes."

Growing American Interest 

H.E. Steven C. Bondy, the American Ambassador to Bahrain, expressed optimism about the investment potential in Bahrain, revealing that the American business delegation at the forum was the largest among international participants. "American companies see tremendous business opportunities here in Bahrain and the region," Bondy stated. "I’m confident that the engagement taking place at this forum will further encourage investments, as Bahrain continues to demonstrate its attractiveness as a business hub."

Geopolitical Challenges

Geopolitical risks were also a key topic of discussion. H.E. Eng. Khalid bin Abdulaziz Al-Falih, Saudi Arabia's Minister of Investment, acknowledged the challenges posed by geopolitical factors in the region. However, he emphasized that military cooperation among GCC countries has helped mitigate these risks, maintaining investor confidence.

Responding to these concerns, H.E. Shaikh Salman bin Khalifa Al Khalifa stated, "Geopolitical risks are a reality, but we should remain focused on business opportunities. Strong leadership and long-standing alliances are essential for maintaining stability and ensuring regional resilience."

Lord Gerry Grimstone, Chairman of Gemcorp Capital, shared a positive outlook on Bahrain's hospitality and tourism sectors, stating that Western investors are showing growing interest. "Investors are ready to commit to projects in hotels and beach resorts," he said. However, Grimstone also emphasized the importance of resilience in technology and geopolitics for businesses to thrive in the region. 

Vision for GCC Collaboration

During his address, H.E. Abdulla bin Touq Al Marri, the UAE’s Minister of Economy, highlighted the UAE’s Golden Visa program as a key initiative to attract global talent, and he hinted at a potential GCC-wide visa system. "Soon, we may issue a GCC visa, which will further enhance our region's position as a trade hub," he said.

Al Marri also highlighted new opportunities for expats with Emirati IDs, who can now travel to Azerbaijan and Georgia without additional visas, further enhancing the UAE’s status as a regional gateway.

The collective GDP of Gulf countries currently stands at approximately $2.3 trillion, and by 2030, this figure is expected to rise to $3 trillion, with Saudi Arabia and the UAE contributing over 75% of that total.

The Gateway Gulf 2024 Investment Forum has underscored the immense potential for investment in Bahrain and the broader GCC region. With strong participation from both regional and international investors, the forum has become a critical platform for discussions on economic growth, resilience, and the promising future of Gulf economies.