MANAMA: The Kingdom of Bahrain’s inward foreign investments up 5.5% to BD11 billion in 2018, announces by the Information and eGovernment Authority (iGA).
The figures were released the initial Foreign Investment Survey results for the financial year 2018 conducted in collaboration with the Central Bank of Bahrain and the Economic Development Board. The survey measured the volume of the foreign investment of key entities in various economic sectors in order to provide updated statistical data of the volume and flows of these investments in an initiative that aims at assisting decision-makers to set appropriate policies so as to attract more investments to contribute in advancing development wheel witnessed by the Kingdom.
Initial statistics indicated an increase in the volume of direct foreign investment in Bahrain during 2018 as it presented an increase of 5.5% in comparison to 2017 with a value exceeding BD11 billion during the end of 2018. The growth reflects the Kingdom’s efforts in attracting more foreign investment and an increase in the capital flows.
While the report indicated that the volume of the direct foreign investment flow to Bahrain in 2018’s financial year reaches nearly BD570 million in the top two sectors – banking and manufacturing. Direct investments from Kuwait accounted for the highest rate of BD3.1 billion, followed by Saudi Arabia which came in second with a value that reached BD2.8 billion. Libyan Arab Republic positioned as the third with approximately BD1.3 billion during 2018 – raising GCC investments by 65% from the total direct foreign investments.
The survey had been conducted to determine the Kingdom’s foreign investment sources according to the country of residence of investors; as well as define the attracted sectors for investments in order to focus and become directed to develop other sectors. The survey comprises active entities in all economic activities while considering the volume of capital, ownership and employment.
It is worth noting that the Foreign Investment Survey is considered as one of the most important economic surveys conducted by the Authority on regular basis in an aim to learn about the balances and flows of the foreign investments as the Authority – represented by the Economic Statistical Directorate – in collaboration with relevant entities carry-out the survey in coincidence with recommendations by international organizations and standards. The survey is conducted in line with the unified GCC work plan supervised by the GCC Stat Center to collect foreign investment statistics.
