Bahrain attracts $921 mln direct investment, mostly in manufacturing, logistics

Bahrain attracts $921 mln direct investment, mostly in manufacturing, logistics

Bahrain’s Economic Development Board (EDB) said on Wednesday it attracted $290 million direct investment in manufacturing and logistics in the first nine months of 2022 as the country seeks to diversify its oil-based economy. The investments, through 25 manufacturing and logistics companies setting up and expanding in the small island nation, are expected to create 1,200 jobs in the next three years.

For the latest headlines, follow our Google News channel online or via the app.

Manufacturing accounts for more than 13 percent of Bahrain’s GDP, the EDB said. Manufacturing and logistics made up more than 30 percent of all direct investment EDB attracted in the year to end-September, which was $921 million, up from $839 million for the whole of 2021 according to the EDB’s website. A figure for manufacturing investment last year was not available. The EDB’s target was to attract $1 billion in direct investment this year. In total, the $921 million investments are expected to create 4,700 jobs in