Latest news with #BahrainEDB
Biz Bahrain
25-06-2025
- Business
- Biz Bahrain
Minister of Sustainable Development and Chief Executive of Bahrain EDB Participates as Co-Chair in WEF's Annual Meeting of the New Champions 2025 in China
H.E. Noor bint Ali Alkhulaif, Minister of Sustainable Development and Chief Executive of the Bahrain Economic Development Board (Bahrain EDB), kicked off participation at the upcoming World Economic Forum's (WEF) Annual Meeting of the New Champions 2025 as Co-Chair. This year's 'Summer Davos' forum, taking place from 24 to 26 June in Tianjin, People's Republic of China, will be held under the theme Entrepreneurship for a New Era. Li Qiang, Premier of the People's Republic of China, is set to deliver the opening remarks at the 16th Annual Meeting of the New Champions, which is expected to convene over 1,700 global leaders from government, business, international organisations, civil society, and academia. This year's discussions will focus on navigating a rapidly transforming global landscape shaped by technological disruption, geopolitical shifts, and sustainability imperatives. The programme will revolve around five key pillars: Deciphering the World Economy, Outlook on China, Industries Disrupted, Investing in People and Planet, and New Energy and Materials. Other Co-Chairs of the Annual Meeting include a distinguished group of global leaders including: • H.E. Faisal Alibrahim, Minister of Economy and Planning, Kingdom of Saudi Arabia • H.E. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, Arab Republic of Egypt • Henadi Al Saleh, Chair, Board of Directors, Agility • Dai Houliang, Chairman, China National Petroleum Corporation (CNPC) alongside several other prominent figures from government, business, and academia As Co-Chair, H.E. Noor bint Ali Alkhulaif will join a series of high-level panel discussions, multilateral sessions, roundtables, and firestarter conversations, including sessions on Contours of a New Economic Order, MENA-China Trade and Investment Relations, Skills That Matter, and Women Leaders – Shaping Tomorrow's Economy. These conversations will offer a platform to highlight Bahrain's policy leadership, forward-looking vision, and efforts to equip its workforce with the skills needed to thrive in a rapidly evolving global economy. Additionally, members of Bahrain EDB will engage in multiple strategic meetings and networking events on the sidelines of the forum. Bahrain EDB is a long-standing Strategic Partner of the World Economic Forum, reflecting the strength of the Kingdom's investment promotion agency's collaboration with the Forum across multiple global platforms, including its consistent participation at the Annual Meeting in Davos. H.E. Noor bint Ali Alkhulaif's selection as Co-Chair for this year's Annual Meeting of the New Champions highlights Bahrain's expanding international impact and its commitment to engaging in key dialogues to elevate its position as a globally competitive destination. The role additionally involves shaping the agenda, where this year's focus on economic transformation and innovation can reignite growth amid shifting global condition underscores the Kingdom's broader efforts to accelerate digital innovation, cultivate talent, and grow high-value sectors in support of its ambitious economic diversification agenda.
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.
