Bahrain and Germany are keen on JVs in healthcare and construction sectors

BCCI Deputy VC Adel Al Aali with Head of Department Economics Hartmut Reichl,Policy and International Relations at the BCCI

There is a huge scope of two-way investments and transfer of expertise between Bahrain and Germany in all vital sectors, thanks to the Kingdom’s attractive investment climate and friendly ties between the two countries, according to a senior official of German Ministry of Economics official.

“Germany with expertise in healthcare, building and construction material and the private sectors of both countries are working hard to explore various avenues of co-operation,”  Hartmut Reichl, Head of Department Economics Policy and International Relations in an interview said.

Reichl, who is heading a German private sector delegation visit to Manama from the State of Baden-Wuerttemberg, said that he was very much encouraged with the outcome of the visit of the Economic Development Board (EDB) in October last year.

“We are expecting yet another delegation from Bahrain led by the EDB in May this year and to be hosted by Stuttgart,” he added.

“In October, a high-level delegation from Bahrain hosted an Investment Seminar in Stuttgart, Germany with an aim of promoting the Kingdom’s business friendly environment and showcase to German business leaders the business opportunities in Bahrain and the wider Gulf region,” he added.

The 12-member German delegation was hosted by the Bahrain Chamber of Commerce and Industry (BCCI)   Healthcare Committee led by Adel Al A’ali where both sides discussed the possibilities of transfer of expertise and two-way investments in healthcare and medical sectors.

“The Kingdom of Bahrain offers a rare opportunity to the German healthcare sector to invest in this rapidly growing sector,” Al A’ali said.

“The BCCI Committee will oversee the flow of investments in the medical and health sector and German delegation’s visit is part of the wider initiative to bring international and well reputed companies and showcase opportunities,” he added.

The seminar was part of a three-day visit that included various promotion activities, and meetings with senior officials and industrial leaders in areas of interest to Bahrain.

“Germany is home to some of the world’s leading companies and it makes sense for these businesses to look to Bahrain when seeking opportunities for expansion.  Bahrain offers foreign investor’s unparalleled access to Gulf markets at a time when economies affected by the global economic downturn have contracted,” EDB Chief Executive Shaikh Mohammed quoted saying during the seminar.

“The Bahrain Investment Seminar is a reflection of the synergies between Bahrain and Germany and the commitment to work together for mutual benefit.  Bahrain’s stable economic climate, cost competitive environment and very attractive tax policies as well as our well-educated, trained and qualified Bahraini workforce, puts Bahrain firmly at the top of any consideration list for investing in the Gulf, and we have already seen a number of leading German businesses moving into the Kingdom.”

At present more than 40 German companies have a presence in Bahrain including Nokia Siemens Networks, Allianz Global Investors Europe and Hochtief Facility management. Trade and commercial relations between Germany and Bahrain have always been strong and continue to grow.

There are a number of trade associations and organisations fostering relationships between Germany and Bahrain: the Arab-German Chamber of Commerce and Industry (Ghorfa), the German-Arab Chamber of Industry and Commerce (AHK), as well as the embassies and foreign ministries. In October 2009 Bahrain hosted the Arab-German Family Business Summit, a forum for family businesses across the Gulf to meet leading family businesses from Germany.

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