Latest news with #BahrainEDB
Biz Bahrain
29-04-2025
- Business
- Biz Bahrain
A Bahraini Delegation Heads to Italy to Promote Investment Opportunities
A delegation from the Kingdom of Bahrain, led by HE. Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, has commenced a three-day strategic visit to Italy. Featuring a series of curated business events, as well as official and private sector meetings, the visit aims to strengthen economic and trade ties between Bahrain and Italy. During the multi-city visit, which includes Rome, Parma and Milan, the official delegation is expected to highlight Bahrain's diverse investment offering across priority sectors, included financial services, ICT manufacturing, logistics and tourism. Bahrain's delegation also includes H.E. Noor bint Ali Alkhulaif, Minister of Sustainable Development, Chief Executive of the Bahrain Economic Development Board (Bahrain EDB); H.E. Khalid Humaidan, Governor of the Central Bank of Bahrain; H.E. Shaikh Abdulla bin Khalifa Al Khalifa, Chief Executive Officer of Mumtalakat; H.E. Hamad Al Mahmeed, Director General of the Prime Minister's Office; Mr. Ali AlMudaifa, Chief of Business Development at Bahrain EDB; Mohammed AlAlawi; Chief of Marketing and Communications at Bahrain EDB; Mr. Ugo Vincenzini, Advisor to the Chief Executive of Bahrain EDB and Mohamed AlMadani, Head of Manufacturing, Logistics and Transport at Bahrain EDB. This visit underscores Bahrain's strategic efforts to attract investment, fostering economic growth, and creating employment opportunities. It forms part of the Kingdom's broader strategic efforts to position the Kingdom as a competitive regional hub for international business, reaffirming Bahrain's commitment to strengthening its longstanding partnership with Italy and fostering mutually beneficial economic collaborations. Bahrain and Italy share a robust history of economic and trade ties that date back to 1973, where recent bilateral agreements include granting Italy partnership status for sea-to-air freight services. Trade between Bahrain and Italy has grown steadily over the past years, with overall non-oil trade reaching USD 775 million in 2024. Additionally, the two countries have signed two economic agreements relating to the protection of investments and equal treatment of anchorage and port taxes. Today, Bahrain is home to numerous Italian companies benefiting from the Kingdom's strategic value proposition. Notable recent examples include the Italian pasta producer Barilla's setting up an office in Bahrain to serve as the central hub to support the company's expansion plans into the MENA market. Additionally, the racing components manufacturer Racing Force expanded its Bahrain headquarters to double its production of Bell Racing helmets to meet growing demand globally. With its unparalleled regional and global market access, advanced digital infrastructure, and competitive operational costs, Bahrain presents investment opportunities for Italian businesses seeking to expand their footprint in the Middle East and beyond.
Zawya
16-04-2025
- Business
- Zawya
KGeN launches regional headquarters in Bahrain
Bahrain - Kratos Gamer Network (KGeN), a global decentralised platform for gamers, has announced the launch of its regional headquarters for the Middle East and North Africa (Mena) in Bahrain. Boasting a global community of more than 21 million gamers, KGeN is commencing on-the-ground operations in Mena to capitalise on its rapidly expanding gaming market. The KGeN Mena headquarters will introduce a universal gamer reputation framework, enabling gamers in the region to establish their gaming history through the globally recognised 'Proof of Gamer' system and join the KGeN network. The Bahrain-based HQ aims to bridge the gap between regional gaming communities and global game publishers seeking to connect with the passionate local gaming community. Furthermore, KGeN's Bahrain regional headquarters is set to drive innovation and growth within the region's evolving gaming and gamification ecosystem. It will offer a blockchain-based user identity, reputation, and loyalty framework to regional publishers looking to engage their consumers through cutting-edge gamified and immersive experiences. Manish Agarwal, co-founder of KGeN, said: 'Bahrain's progressive digital infrastructure and supportive business environment make it an ideal location for KGeN's regional expansion. We are excited to contribute to the region's thriving gaming industry by providing top-tier technology solutions, partnerships, and expertise.' KGeN's expansion aligns with its vision to empower consumer enterprises through AI and blockchain-enabled gamification. By leveraging Bahrain's advanced ICT sector, KGeN intends to tap into emerging opportunities and collaborate with local and international consumer-facing entities. Ali Al Mudaifa, chief of business development at the Bahrain EDB, welcomed KGeN's establishment. 'Their choice of Bahrain for their regional headquarters underscores our dynamic tech ecosystem, attracting innovative companies and highlighting our skilled talent and infrastructure. This strengthens our commitment to the Mena gaming industry's projected $2.8 billion market by 2026,' he added. Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Bahrain This Week
31-03-2025
- Business
- Bahrain This Week
Unmatched Cost Advantages for Logistics & Manufacturing Firms
According to the 'Cost of Doing Business in the GCC', manufacturing and logistics sector reports published by the EY's US office, businesses operating in Bahrain benefit from annual operating cost advantages of up to 69% in logistics, and up to 41% in manufacturing compared to neighbouring Gulf Cooperation Council (GCC) countries. The in-depth study, which reported Bahrain International Investment Park and Bahrain Logistics Zone as the most cost-competitive special economic zone (SEZ) in the GCC to operate a manufacturing or logistics business. The reports collected and analysed key data, factoring in both direct and indirect annual costs associated with operating companies, such as office space, labour, transport and logistics, taxes, utilities, business registration and licensing comparing Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The island nation of Bahrain, strategically located at the heart of the Gulf serving as a gateway to the region, has prioritised maintaining its cost competitiveness. A cornerstone of its strategy of maintaining its position as a trusted destination of choice for foreign investment with a focus on attracting investments into high-value sectors, coupled with its national priorities of realising key infrastructure projects and continuing to upskill and future-proof its talent pool, Bahrain continues to work towards building a diversified and resilient economy. Exemplifying investor trust, Bahrain's FDI Stock Relative to GDP is more than double the global average, standing at 93.6% as of 2023 (GCC:27.5%, World: 44.9%) Commenting on the findings, Ali Al Mudaifa, Chief of Business Development at the Bahrain Economic Development Board (Bahrain EDB), said, 'Offering long-standing stability and strong interregional cooperative ties, the Gulf region continues to attract investments driven by ambitious growth visions – GCC economies collectively grew by 22% from 2021 to 2023, to reach a combined total of about USD 2.1 trillion; this is expected to reach USD 2.8 trillion by 2030 according to the IMF.' Bahrain stands out as a trading hub providing significant savings in various operational areas. Within the logistics report, the cost of port storage costs are up to 52% more competitive, enhancing Bahrain's attractiveness for businesses seeking to set up or expand into the region. From both sector reports, EY indicated that annual labour costs in Bahrain are lower than the GCC average – up to 30% less for logistics companies and up to 24% less for manufacturing. The Chief of Business Development at Bahrain EDB added, 'Bahrain's competitive advantages, favourable tax environment, and agile regulatory policies underscore a steadfast commitment to fostering a seamless and business-friendly investment environment, positioning our island nation as the ideal destination for logistics and manufacturing companies looking to expand in the GCC and beyond.' Andrew Phillips, Partner/Principal & Co-leader of Quantitative Economics & Statistics (QUEST) at Ernst & Young said, 'Special economic zones and other measures are helping GCC governments to continue to diversify by attracting large-scale projects to reshape national economies by developing industries of the future. For manufacturing and logistics firms eyeing the region in search of a competitive cost environment, our sector reports determined that Bahrain is the most cost-competitive across the Gulf special economic zones we analyzed based on attractive labor, real estate rental, and utility costs for businesses and a low cost of living for employees.' Bahrain's strategic location at the heart of the GCC further enhances its appeal, particularly for road transport. Companies can save 71% and 65% on average when shipping 40-foot containers to Dammam and Riyadh, offering significant value. With the fastest customs clearance times and the shortest transit routes between seaports, airports, and logistics zones, Bahrain is emerging as the Gulf's most efficient and cost-effective logistics gateway. The island nation is home to several global companies that have successfully leveraged these advantages. Notable players in the logistics sector include DHL, which has established a significant operational presence in Bahrain; FedEx, the anchor tenant of Bahrain Cargo Village, and DSV, a global leader in supply chain services. On the manufacturing side, companies like Mondelez and Arla have chosen Bahrain as a strategic base for their regional operations, benefiting from cost efficiencies, logistical advantages, and a highly skilled talent pool.
Biz Bahrain
04-03-2025
- Business
- Biz Bahrain
Logistics and Manufacturing Companies Benefit from Unparalleled Cost Advantages in Bahrain
According to the 'Cost of Doing Business in the GCC', manufacturing and logistics sector reports published by the EY's US office, businesses operating in Bahrain benefit from annual operating cost advantages of up to 69% in logistics, and up to 41% in manufacturing compared to neighbouring Gulf Cooperation Council (GCC) countries. The in-depth study, which reported Bahrain International Investment Park and Bahrain Logistics Zone as the most cost-competitive special economic zone (SEZ) in the GCC to operate a manufacturing or logistics business. The reports collected and analysed key data, factoring in both direct and indirect annual costs associated with operating companies, such as office space, labour, transport and logistics, taxes, utilities, business registration and licensing comparing Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The island nation of Bahrain, strategically located at the heart of the Gulf serving as a gateway to the region, has prioritised maintaining its cost competitiveness. A cornerstone of its strategy of maintaining its position as a trusted destination of choice for foreign investment with a focus on attracting investments into high-value sectors, coupled with its national priorities of realising key infrastructure projects and continuing to upskill and future-proof its talent pool, Bahrain continues to work towards building a diversified and resilient economy. Exemplifying investor trust, Bahrain's FDI Stock Relative to GDP is more than double the global average, standing at 93.6% as of 2023 (GCC:27.5%, World: 44.9%) Commenting on the findings, Ali Al Mudaifa, Chief of Business Development at the Bahrain Economic Development Board (Bahrain EDB), said, 'Offering long-standing stability and strong interregional cooperative ties, the Gulf region continues to attract investments driven by ambitious growth visions – GCC economies collectively grew by 22% from 2021 to 2023, to reach a combined total of about USD 2.1 trillion; this is expected to reach USD 2.8 trillion by 2030 according to the IMF.' Bahrain stands out as a trading hub providing significant savings in various operational areas. Within the logistics report, the cost of port storage costs are up to 52% more competitive, enhancing Bahrain's attractiveness for businesses seeking to set up or expand into the region. From both sector reports, EY indicated that annual labour costs in Bahrain are lower than the GCC average – up to 30% less for logistics companies and up to 24% less for manufacturing. The Chief of Business Development at Bahrain EDB added, 'Bahrain's competitive advantages, favourable tax environment, and agile regulatory policies underscore a steadfast commitment to fostering a seamless and business-friendly investment environment, positioning our island nation as the ideal destination for logistics and manufacturing companies looking to expand in the GCC and beyond.' Andrew Phillips, Partner/Principal & Co-leader of Quantitative Economics & Statistics (QUEST) at Ernst & Young said, 'Special economic zones and other measures are helping GCC governments to continue to diversify by attracting large-scale projects to reshape national economies by developing industries of the future. For manufacturing and logistics firms eyeing the region in search of a competitive cost environment, our sector reports determined that Bahrain is the most cost-competitive across the Gulf special economic zones we analyzed based on attractive labor, real estate rental, and utility costs for businesses and a low cost of living for employees.' Bahrain's strategic location at the heart of the GCC further enhances its appeal, particularly for road transport. Companies can save 71% and 65% on average when shipping 40-foot containers to Dammam and Riyadh, offering significant value. With the fastest customs clearance times and the shortest transit routes between seaports, airports, and logistics zones, Bahrain is emerging as the Gulf's most efficient and cost-effective logistics gateway. The island nation is home to several global companies that have successfully leveraged these advantages. Notable players in the logistics sector include DHL, which has established a significant operational presence in Bahrain; FedEx, the anchor tenant of Bahrain Cargo Village, and DSV, a global leader in supply chain services. On the manufacturing side, companies like Mondelez and Arla have chosen Bahrain as a strategic base for their regional operations, benefiting from cost efficiencies, logistical advantages, and a highly skilled talent pool.
Trade Arabia
26-02-2025
- Business
- Trade Arabia
Bahrain EDB hosts high-level French business delegation
The Bahrain Economic Development Board (Bahrain EDB) today (February 26) hosted a high-level business delegation from France as part of a two-day visit organised by the investment promotion agency in collaboration with MEDEF, the first network for entrepreneurs in France. With an overall aim of showcasing Bahrain's investment landscape, the visit is set to comprise exclusive business events and strategic meetings with representatives from Bahrain's public and private sectors, where the discussions will focus on sharing value-adding business opportunities across priority sectors, namely financial services, manufacturing, ICT, logistics, and tourism. Additionally designed to strengthen investment ties between the two countries, as part of the visit Bahrain EDB organised meetings with key entities including the Ministry of Oil & Environment, the Ministry of Transportation and Telecommunications, the Ministry of Tourism, the Ministry of Industry and Commerce, the Central Bank of Bahrain, Tamkeen, Bahrain Tourism & Exhibitions Authority, Mumtalakat, Bapco Energies, the French Embassy to the Kingdom of Bahrain, Bahrain Chamber of Commerce and Industry, the French Chamber of Commerce and Industry in Bahrain and BNP Paribas. Bahrain is home to a number of leading French companies, including BNP Paribas, Nextcare, Fives Solios, Thales, Accor, Egis International and Veolia. The non-oil trade between Bahrain and France has seen remarkable growth, increasing by 27% from $334 million in 2019 to over $425 million in 2022.
