In a recent interview, Bahrain Economic Development Board CEO Khalid Al-Rumaihi told CNN about the Gulf kingdom’s strategy to become the entry point for the Gulf market and a centre for technology, financial services and logistics industries.
The number of young workers in the Arab world is set to grow to 58m by 2025. As a result, most Gulf governments are focused on building an economy that encourages entrepreneurs, in the expectation that this will create jobs for the region’s youth.
Thanks to recent reforms, it is now 40% cheaper to do business in Bahrain than in most major Gulf cities. Unusually for the region, Bahrain allows 100% foreign ownership of enterprises based in the kingdom, with foreign ownership permitted in 98% of business activities.
MSB is delighted to be supporting the Government of Bahrain as it seeks to liberalise its economy and grow its private sector. We have worked with the Economic Development Board, which aims to attract foreign direct investment into Bahrain, and enjoy an ongoing partnership with Tamkeen, which has responsibility for encouraging the kingdom’s home-grown entrepreneurs.
To learn more about MSB’s experience in Bahrain and the rest of the GCC region, please see our Gulf case studies and testimonials here.