Foreign investment tops $114 million in 2013

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Foreign investment tops $114 million in 2013

​ No less than 35 international businesses from more than 20 markets across North America, Europe and Asia set up operations in Bahrain during 2013.
 
The result of outreach activities by the Bahrain Economic Development Board (EDB), the $114 million investment was 12% higher than in 2012. Such a significant increase will help create more than 800 jobs over three years in sectors including financial and professional services, logistics, manufacturing, healthcare and ICT.
 
Declaring 2013 a success for foreign direct investment, HE Kamal bin Ahmed, Minister of Transportation and Acting Chief Executive of the EDB, said:
 
“We are delighted so many international businesses have chosen to locate their Middle East operations in Bahrain where they will enjoy competitive taxation, clear regulation, the most highly skilled workforce in the region and unrivalled access to the fast growing $1.5 trillion Gulf market.
 
“Growth in the private sector is imperative to the continued diversification of Bahrain’s economy. Foreign investment is a key driver of growth and is providing more and better jobs for Bahrainis. Targeting international investors will be a continued focus for the EDB in 2014, while we continue to support the new companies that have chosen the Kingdom.”
 
Foreign investments in 2013 included:
 
Chemco Group: Indian PET manufacturing company Chemco Group announced plans to establish a factory in the Bahrain International Investment Park. Chemco’s investment is expected to reach $20 million by 2017 and create over 100 jobs.
 
Reckitt Benckiser: Global leader in health, hygiene and home consumer products, Reckitt Benckiser opened a new manufacturing facility in the Bahrain International Investment Park that is expected to employ nearly 200 people.
 
Kintetsu: This major Japanese air freight forwarding firm established its regional office at the Bahrain International Investment Park, and started operating in July 2013.
 
Chinamex: Working with the Ministry of Commerce, Chinamex is marketing and managing development of Dragon City, a large-scale product, retail and wholesale trading platform. The multi-million dinar project, which incorporates Chinese architecture and culture, is being developed by Diyar Al Muharraq.
 
S1 AJM: S-1 Corporation, a Samsung affiliate and South Korea’s leading security advisory business, signed an agreement with AJM Kooheji Group B.S.C. ©, one of Bahrain’s leading family businesses. AJM Kooheji Group will act as S-1 Corporation’s representative in Bahrain and market their services in the Kingdom.
 
Takaud: The MENA region’s specialist provider of savings and pensions has chosen Bahrain for its regional headquarters, with plans to hire Bahrainis to grow the company and create future leaders in this segment.
 
CIGNA SAICO: CIGNA, one of the world’s largest health services companies, together with Saudi Arabian Insurance Company (SAICO), launched the regional headquarters for their new third-party claims management and processing operation. CIGNA SAICO Benefits Services WLL plans to employ over 50 people in Bahrain.