Bahrain holds roadshow in India seeking investments

New Delhi : A delegation from the Bahrain Economic Development Board (EDB) is holding a roadshow in India seeking investments in sectors like tourism, start-ups, financial services, information technology and manufacturing, according to a report. 

The Financial Express quoting EDB Managing Director Simon Galpin said Bahrain is keen that local high net worth individuals, angel investors and serial entrepreneurs become active investors in startups in India and get access to other markets in the region.

Dr. Simon Galpin, Managing Director of the EDB, previously worked in Hong Kong for over 20 years and is an expert in investment promotion. EDB earlier announced it has opened an office in Hong Kong to attract foreign investment. 

“Tourism is the most important industry for the start of business links with India’s hotel operators, while the financial services and information technology start up sector fits well for Indian companies, especially those engaged in the digital payment business,” Galpin told The Financial Express. 

He also highlighted that Bahrain has many government-funded infrastructure projects that could present opportunities for Indian engineering companies, such as upgrading oil and gas companies, expanding our airport by 40 per cent and a new light-rail system. 

Bahrain’s open business environment has attracted international companies from around the world looking to access the fast-growing Gulf Corporation Council’s market, currently worth approximately US$1.5 trillion and expected to reach US$2 trillion by 2020. 

“Bahrain’s prime assets are its strategic geographical location in the Middle East, low labour costs, diversified industries and an open economy that offer a favourable business environment for Indian companies,” the report quoted David Parker, Executive Director, Financial Services, EDB as saying.