RMA, a leading German industrial firm, has revealed its plans to set up a pipeline equipment manufacturing plant in the Kingdom of Bahrain, benefiting from the island’s business environment and its proximity to the Gulf markets.
RMA said that the availability of raw materials in Bahrain was an encouraging factor in selecting the Kingdom as a base for its expansion into the Middle Eastern markets. “This is further bolstered by the Kingdom’s open economy, world class logistics infrastructure, as well as the availability of an educated and productive workforce,” the Economic Development Board in a statement said.
The announcement followed a visit by a high-level RMA delegation, headed by Andreas Truttenbach, Chief Executive Officer of the company.
In a meeting with the RMA delegation, Shaikh Mohammed Bin Essa Al-Khalifa, the Chief Executive of Economic Development Board, highlighted the growing interest of German companies to expand into the region.
“Bahrain welcomes value-added foreign direct investments which contribute to the Kingdom’s economy by creating job opportunities and boosting foreign trade,” said ” Shaikh Mohammed.
“What keeps Bahrain’s economy in a leading position amongst the freest economies worldwide is its openness and diversification. The Kingdom’s regulated reforms have made Bahrain an ideal destination for international investment and in particular German investments, which today total more than 40 German firms,” Shaikh Mohammed said.
“The decision to set up in Bahrain was supported by the country’s reputation as a business hub and the access Bahrain can offer to the Gulf Cooperation Council’s Trillion Dollar market,” said Andreas Truttenbach.
He also recognized that the promotional road-shows, conducted by the EDB, helped spread awareness to foreign investors.
EDB road-shows have helped promote Bahrain and create strong business relations between the Kingdom of Bahrain and the Federal Republic of Germany. They included delegations that attended the Global Connect Forum and the Gulf-Germany First Investment & Business Forum. In October 2009, Bahrain hosted the Arab-German Family Businesses Summit which gathered the prominent business families from the Gulf and Germany.