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Wednesday, May 22, 2024

More than BD100 million injected in economy

More than BD100 million injected in economy
More than BD100 million injected in economy

(Manama) – More than BD100 million in direct foreign investment was injected into the local economy through the efforts of the Economic Development Board (EDB) during 2016, its head told a meeting of entrepreneurs, organised by the Bahrain Chapter of the Global Entrepreneurs Organisation (EO).

EDB Chief Executive Khalid Al Romaihi, discussed the Kingdom of Bahrain’s recent economic achievements and it future outlook at the interactive session which was attended by 20 EO members.

Al Romaihi reported that the EDB has attracted BD106 million in investment to the Kingdom, with 40 new companies setting up shop here during the year. The investments are expected to generate more than 1,600 job opportunities in the next three years.

“Entrepreneurship and start-ups are key areas the EDB is focusing on as part of its strategic plan to attract investments. We have worked closely with other government departments to ensure that Bahrain develops the soft infrastructure and regulatory framework required to create an environment in which entrepreneurs and start-up businesses can thrive.”

He added: “Our meeting with the Entrepreneurs’ Organization was an incredibly useful experience. I am confident that we can work closely together to ensure that entrepreneurs continue to be supported, creating more investment and employment opportunities in Bahrain as the sector grows.”

As investors and entrepreneurs, the attending members of Entrepreneurs Organization pledged their support and commitment to representing Bahrain as a key location to international investors – notably in the areas of alternative energy, tourism, manufacturing and ICT.

EO member Fareed Bader commented: “The session provided some very useful insights into Bahrain’s dynamic inward investment strategy, and highlighted the important role we members of EO play in furthering the development of an entrepreneurial culture in Bahrain. We are looking forward to our next meeting and exploring further opportunities to add value to Bahrain, including the launch of an EO Angel Investor group.”

EO hosted two other inspiring events last week, starting with the EO Accelerator Program awareness session. The programme, in partnership with Tamkeen, is an exciting opportunity for aspiring entrepreneurs looking for the mentorship that will catapult their business to the next level. EO also supported Bahrain’s first Global Student Entrepreneurship Awards on March 2 whereas four expert judges selected a lucky winner from six finalist students.

This event was followed by an interesting and engaging EO (Entrepreneurs Organization) learning event with two of Bahrain’s leading entrepreneurs, Bader and Mohammed Al Asfoor, who shared their stories of success. For more information contact admin@eobahrain.com.

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