Bahrain’s Economic Development Board (EDB) celebrates a significant milestone as the kingdom secures a record-breaking $1.7 billion in investments for the year 2023. This achievement marks a remarkable 55 percent increase in funding compared to the previous year, demonstrating the growing attractiveness of Bahrain to investors.
The influx of investments, originating from 85 local and international projects, is expected to create over 5,700 job opportunities across various sectors over the next three years, supporting sustainable growth and economic diversification.
A notable highlight is the financial services sector, which emerged as a key contributor to the economy of Bahrain, surpassing the oil and gas industry. Accounting for 17.5 percent of the country’s GDP, the financial services field witnessed substantial investments, reflecting confidence in Bahrain’s financial ecosystem.
Additionally, the information and communication technology sector attracted significant investments, paving the way for enhanced innovation and digital transformation initiatives. This includes efforts to digitise government services and implement AI-driven solutions, further propelling Bahrain’s digital economy forward.
The manufacturing sector also received considerable attention, leveraging Bahrain’s strategic location as a gateway to the Gulf Cooperation Council region and its robust manufacturing capabilities.
Khalid Humaidan, Governor of the Central Bank of Bahrain, hailed 2023 as a “milestone year” for Bahrain EDB, attributing the success to collaborative efforts and Bahrain’s competitive value proposition. He emphasised Bahrain’s high FDI stock relative to GDP, highlighting investor confidence in the kingdom’s economy.
