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Private sector ‘key to driving economic growth’

Bahrain News
Fri, 11 May 2018

Deputy King His Royal Highness Prince Salman bin Hamad Al Khalifa welcomed the range of project announcements made during Gateway Gulf Investor Forum, which include significant investment opportunities across the energy, real estate, infrastructure, ICT and technology sectors.

He was attending the second and final day of the forum, which is being held at Four Seasons Hotel in Bahrain Bay.

The Deputy King stressed that these projects will also support greater innovation and competitiveness. He affirmed that the depth of capacity and knowledge within ‘Team Bahrain’ is driving forward a shared vision to deliver meaningful opportunities for the kingdom’s citizens

The Deputy King emphasised the forum’s role in showcasing projects that are supporting growth and prosperity in the region.

Among key deals announced yesterday were a $1 billion energy fund and a $100 million venture capital fund launched by the Bahrain Development Bank aimed at boost the start-up ecosystem in Bahrain and the Middle East.

It was also announced that Malaysia’s Power Root, the manufacturer of Alicafe coffee mix and other instant hot beverages, is investing more than $14m for a production facility in Bahrain International Investment Park in Hidd.

Opportunities for private sector investment across Bahrain’s vibrant hospitality, retail and real estate sectors were showcased, with a particular focus on mixed-use developments and new tourism hubs across the southern part of the kingdom.

Gateway Gulf brought together more than 500 global investors and business leaders to explore ways of unlocking the opportunities being created by the economic transformation in the GCC.

The event provides a direct route into accessing the GCC market by showcasing major regional investment-ready projects worth over $18bn, while offering an opportunity to match funding with large-scale infrastructure projects in Bahrain.

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