Bahrain Economic Development Board (Bahrain EDB), with the support of Team Bahrain, achieved a significant milestone in 2023 by securing a record-breaking level of investments exceeding $1.7 billion. This represents a remarkable year-on-year increase of 55 percent compared to the $1.1 billion in investments generated by Bahrain EDB in 2022. These investments, originating from 85 local and international projects, are expected to create over 5,700 job opportunities within priority sectors over a three-year period, contributing to economic diversification and sustainable growth.
Read more: Bahrain’s economy grows by 4.9 percent, highest rate since 2013
According to the Bahrain News Agency (BNA), the financial services sector attracted the highest amount of investments, highlighting its strength, resilience, and ability to attract major global players. In 2023, the financial services sector surpassed the oil and gas industry to become the largest contributor to Bahrain’s economy, accounting for 17.5 percent of the real GDP. The Information and Communication Technology (ICT) sector also secured a substantial influx of investments, which will drive further innovation within the industry. The government continues to prioritize digital transformation efforts across all sectors of the economy, implementing targeted plans, initiatives, and adopting artificial intelligence solutions to enhance government services.
Advanced manufacturing
Manufacturing closely followed, showcasing Bahrain’s inherent capabilities in advanced manufacturing, supported by its strategic location as a gateway to the Gulf Cooperation Council (GCC) market and beyond. Additionally, the island nation’s rich cultural heritage, deep-rooted history of hospitality, and relaxed island-lifestyle have solidified Bahrain’s appeal as a premier travel destination, evident through a variety of new tourism projects. The logistics sector also attracted significant investment, reflecting the rapid growth of transport and logistics activities in Bahrain.
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