Bahrain Economic Development Board attracted $921 million in direct investment from 66 companies during the first nine months of the year.
The investments are expected to generate more than 4,700 jobs over the next three years in key sectors, including financial services, logistics, manufacturing, tourism, and information and communications technology, Bahrain EDB — the public agency responsible for attracting investment to the country — said in a statement on Wednesday.
In particular, Bahrain EDB attracted $290m in the manufacturing and logistics sector through direct investment during the first three quarters of the year.
The investment was made through 25 manufacturing and logistics companies that were established and expanded within the country during the January-September period. It is expected to generate more than 1,200 jobs over the next three years, the statement said.
“We are very pleased to see international manufacturing and logistics companies set up and expand in Bahrain, benefiting from the kingdom’s strategic location, enabling them to tap into the $1.67 trillion GCC market,” said Ahmed Sultan, executive director for business development of manufacturing and logistics at Bahrain EDB.
“Manufacturing and logistics are among the priority sectors for us and under the economic recovery plan to support future growth and employment within the kingdom.”
Companies expanding in Bahrain include FedEx, BASF and Racing Force International. Meanwhile, the new companies entering Bahrain include Bahrain Sugar Refinery, Hoover Circular Solutions and KKC Industries WLL (iCool), a Chinese manufacturer of heating, ventilation, and air conditioning products.
The manufacturing sector is a significant contributor to the economy, accounting for more than 13 per cent of Bahrain's gross domestic product.
Manufacturers and logistics companies enjoy duty-free trade through Bahrain’s free trade agreements with 22 countries around the world, including the first US FTA with a GCC member.
To boost the agile ecosystem and accessibility to key decision makers, Bahrain has adopted a “Team Bahrain” approach that brings businesses of all sizes together with decision makers to understand and respond quickly to their needs.
The country’s economy grew 6.9 per cent in the second quarter of 2022 to record the highest rate of growth in the past 11 years, driven by a strong performance in the country's non-oil sectors targeted under the country's economic reform plan.
Bahrain also posted a surplus of $88m in the first half of the year while recording a 52 per cent annual jump in revenue, the Gulf nation’s Ministry of Finance and National Economy said in August.
The country’s revenue in the January-June period stood at almost $4.5 billion.
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
match info
Maratha Arabians 138-2
C Lynn 91*, A Lyth 20, B Laughlin 1-15
Team Abu Dhabi 114-3
L Wright 40*, L Malinga 0-13, M McClenaghan 1-17
Maratha Arabians won by 24 runs
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
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Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
RESULTS FOR STAGE 4
Stage 4 Dubai to Hatta, 197 km, Road race.
Overall leader Primoz Roglic SLO (Team Jumbo - Visma)
Stage winners: 1. Caleb Ewan AUS (Lotto - Soudal) 2. Matteo Moschetti ITA (Trek - Segafredo) 3. Primoz Roglic SLO (Team Jumbo - Visma)
Points Classification
1. Marcel Kittel (Germany / Quick-Step) 63
2. Arnaud Demare (France / FDJ) 38
3. Andre Greipel (Germany / Lotto) 25
4. Sonny Colbrelli (Italy / Bahrain) 24
5. Mark Cavendish (Britain / Dimension Data) 22
6. Taylor Phinney (U.S. / Cannondale) 21
7. Geraint Thomas (Britain / Team Sky) 20
8. Thomas Boudat (France / Direct Energie) 20
9. Stefan Kueng (Switzerland / BMC Racing) 17
10. Michael Matthews (Australia / Sunweb) 17
The Breadwinner
Director: Nora Twomey
Starring: Saara Chaudry, Soma Chhaya, Laara Sadiq
Three stars
Results
5.30pm: Maiden (TB) Dh82,500 (Dirt) 1,600m, Winner: Panadol, Mickael Barzalona (jockey), Salem bin Ghadayer (trainer)
6.05pm: Maiden (TB) Dh82,500 (Turf) 1,400m, Winner: Mayehaab, Adrie de Vries, Fawzi Nass
6.40pm: Handicap (TB) Dh85,000 (D) 1,600m, Winner: Monoski, Mickael Barzalona, Salem bin Ghadayer
7.15pm: Handicap (TB) Dh102,500 (T) 1,800m, Winner: Eastern World, Royston Ffrench, Charlie Appleby
7.50pm: Handicap (TB) Dh92,500 (D) 1,200m, Winner: Madkal, Adrie de Vries, Fawzi Nass
8.25pm: Handicap (TB) Dh92,500 (T) 1,200m, Winner: Taneen, Dane O’Neill, Musabah Al Muhairi
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Arabian Gulf Cup FINAL
Al Nasr 2
(Negredo 1, Tozo 50)
Shabab Al Ahli 1
(Jaber 13)
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
UAE currency: the story behind the money in your pockets
Killing of Qassem Suleimani
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
The biog
Favourite food: Fish and seafood
Favourite hobby: Socialising with friends
Favourite quote: You only get out what you put in!
Favourite country to visit: Italy
Favourite film: Lock Stock and Two Smoking Barrels.
Family: We all have one!
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
The specs
Engine: 2.0-litre 4-cyl
Power: 153hp at 6,000rpm
Torque: 200Nm at 4,000rpm
Transmission: 6-speed auto
Price: Dh99,000
On sale: now
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MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
