Bahrain attracted $2.5 billion in foreign direct investment (FDI) in 2024, taking the total value of outstanding foreign investments to around $45.9bn, the government has told Parliament.
Parliament and Shura Council Affairs Minister Ghanim Al Buainain said the government supported a proposal to review and develop decisions aimed at attracting regional investment and strengthening the role of government companies and investment funds.
He said Gulf investments accounted for nearly 60 per cent of the total foreign investment stock, with major investments concentrated in services, finance, industry, real estate and information technology.
The minister highlighted reforms to commercial and financial legislation, streamlined business procedures and digital platforms such as Sijilat for commercial registrations and Bidayat for building permits.
He also pointed to infrastructure projects, including Bahrain International Airport development, road expansion and broadband networks, alongside initiatives supporting financial technology and startups.
“The Economic Development Board (EDB) continues to promote Bahrain internationally through its investment-attraction team and overseas offices,” he said.
“During the Gateway Gulf 2024 forum, deals worth more than $12bn were announced.”
Mr Al Buainain said the government would continue reforms to strengthen Bahrain’s competitiveness, diversify the economy and attract investment that creates quality jobs for citizens.
It is among 50 government replies that will be discussed during today’s session.
The government has rejected a proposal to scrap the BD500 annual penalty for restoring commercial registrations left unrenewed for more than three years, saying the charge encourages businesses to comply with the law.
Mr Al Buainain said the penalty applied only to owners seeking to reinstate cancelled registrations after the three-year period, with the total capped at BD5,000.
He said the measure also allowed families to preserve long-standing commercial registration numbers and continue businesses established by previous generations.
Merchants renewing registrations on time are not subject to the penalty, noted the minister.
The government approved a proposal to develop a national strategy to boost employment opportunities for citizens and give Bahrainis priority over foreign workers in the public and private sectors.
Mr Al Buainain said the proposal’s objectives were already being pursued through the National Labour Market Plan 2023-2026 and related government initiatives.
The government has also approved a proposal to create job opportunities for Bahrainis in new economic projects.
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