Bahrain Economic Development Board (EDB) announced on Sunday a record year for foreign investment in 2017 with investments amounting to $733 million, which is expected to increase job creation by 72 percent.
EDB described the step as "unprecedented success" having attracted 71 new companies to Bahrain during 2017 with an expectation of a generation of more than 2,800 local jobs over the next three years.
Information Computer and Technology (ICT) sector was Bahrain's highest sector to attract inward investment in 2017, comprising a significant 54 percent of total investments in the sector, followed by industrial sector which attracted a fifth of the total investment, comprising of 20 percent, and transport and logistics at over 10 percent.
Tourism came fourth with 10 percent of the Kingdom’s inward investments in 2017. The financial services sector attracted almost 5 percent of the total investment, while service sector scored 1 percent.
The board seeks to attract and encourage investments which helps the country's economy and contributes in growth and job creation in line with Bahrain’s Economic Vision 2030.
EDB’s record number of investments in 2017 represents a significant increase of 161 percent compared to 2016, which saw $281 million in investments from 40 companies.
