Chinese delegation moots boosting investment ties

Manama : A Chinese Delegation representing the All-China Federation of Industry and Commerce (ACFIC)  met the Economic Development Board (EDB) yesterday at the EDB headquarters. During the visit, the delegation will also meet with representatives from other public sector bodies and with private sector companies to strengthen ties with Bahrain. 

The delegation includes representatives from China’s manufacturing and ICT sectors, aiming to promote investment opportunities and greater economic cooperation between Bahrain and China. 

During the meeting, the EDB briefed the delegation on the Kingdom’s offering to investors, in terms of its open business environment and the opportunities it present international investors to access the Gulf market.

 This included the numerous advantages international businesses are benefiting, such as low operating costs, a highly qualified bilingual workforce, and excellent connectivity and access to the other countries that make up the GCC and the region. 

The delegation was also introduced to the EDB’s efforts to attract investment in key sectors where there is the greatest potential for growth.

Vivian Jamal the Executive Director of Marketing & Communications commented, “The EDB seeks to attract quality investments in key economic sectors to create high value jobs for Bahrainis. The Kingdom offers investors from China significant advantages in a number of sectors, including manufacturing, ICT and financial services.” 

In September 2015, a high-level business delegation from Bahrain took part in a 10-day visit to China, organised by the EDB. The visit resulted in the signing of 15 agreements between Chinese companies and trade bodies to strengthen economic and trade ties. The delegation also participated in the China International Fair for Investment & Trade (CIFIT), where Bahrain was the first country in the Middle East to be guest country of honour.

Trade between Bahrain and China has been growing fast. Total goods traded between Bahrain and China (excluding crude oil) exceeded US$1.76 billion in 2015. 

A large number of leading Chinese companies have already established operations in Bahrain, such as Huawei and the Bank of China. Bahrain is Huawei’s Middle East headquarters. The Bank of China’s Bahrain office was the first event venture by a Chinese bank in the Middle East. At the end of 2015, the Bahrain Dragon City opened its doors to the public. This Chinese-themed shopping mall hosts more than 500 Chinese businesses and utilises Bahrain’s strategic location to raise the profile of Chinese products in the region.