UNCTAD Chief of Investments Paul Wessendorp told a Press conference following the launch of WIR 2012 that it would be unfair to not to recognise the economic achievements of the Kingdom of Bahrain especially keeping in view the size of the economy.
“Bahrain’s outflows in 2011 reached $894 million up from $334 million in 2010,” he said.
In his opening remarks Ausamah A. Al Absi, board member of the Bahrain-based MENA Centre for Investment highlighted the salient features of Bahrain’s economic strengthen and sustainable patterns.
Paul Wessendorp, UNCTAD Chief of Investment Section told the 24X7 News that the recovery of Bahrain’s economic climate has been supported by the facts and figures. “I am not in position to issue a specific statement about Bahrain but the report included the facts and figures provided by the Central Bank of Bahrain,” he said, adding that the efforts to diversify the economic base, he said, there will significant improvement in the medium to long term basis.
Talking about the sectors which mainly received the FDIs he said that services sector, banking and finance, green energy and hotel and hospitality sectors topped the list.
He said that the total flow of FDIs reached $1.524 trillion in 2011 compared with $1.3 trillion in 2010 and the year 2008 witnessed the global inflows of the FDIs to $1.791 trillion.
The United States had emerged the biggest recipient of FDIs worth $227 billion followed by China $124 billion.
“The Kingdom of Saudi Arabia FDIs flows declined 16% to $16 billion in 2011 while Turkey in West Asia reported robust increase of 76% in the inflow of the FDIs in 2011, thanks to Spanish and UK investments together about $6 billion and $2 billion respectively,” he said.