Bahrain announced more than $12 billion in deals and initiatives at the Gateway Gulf 2024 forum, highlighting the Gulf region’s shift towards non-oil sectors.
The Cabinet highlighted the importance of the second edition of the forum as a vital platform to showcase Bahrain and the region’s investment opportunities to international stakeholders, enhancing the kingdom’s position as a hub for regional and international investments.
Yesterday’s session, chaired by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, at Gudaibiya Palace, commended the Bahrain Economic Development Board and other agencies for their efforts in co-ordinating the forum,
The forum, which concluded yesterday, was hosted by Bahrain under the patronage of HRH the Crown Prince and Prime Minister.
The Cabinet noted the high level of international participation and the opportunities it provides for potential investment in Bahrain and the region.
The Cabinet also emphasised its role in enhancing insights on responding to economic developments.
Financial deals included Al Salam Bank’s launch of a new asset management firm, Investcorp’s investment initiatives and SICO Bank’s new investment products. JP Morgan Payments plans to hire technologists in Bahrain and Singapore Gulf Bank will launch corporate banking services.
In the digital sector, Array Innovation partnered with local firms, and Beyon unveiled a digital city project.
Manufacturing deals included Alba and Daiki Aluminium’s joint venture and Racing Force Group’s factory expansion. Bapco Energies also announced a capacity expansion.
Edamah, Bahrain’s real estate arm, announced the groundbreaking of the Bahrain Surf Park and a partnership for Bilaj Al Jazayer Beach Club, while GFH announced a new hotel and residential project with Kempinski in Bahrain Bay.
Government announcements included industrial and SME development funds, housing plans and Mumtalakat’s partnership agreements.
The forum brought together more than 250 ministers, business leaders and industry experts to discuss opportunities and challenges in tourism, manufacturing, banking and sports and leisure.
A central theme was the potential for greater regional integration to accelerate growth.
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