UAE becomes third largest contributor of Bahrain FDI stocks
COMMERCIAL NEWS
The UAE contributed 10% of Bahrain’s foreign direct investment (FDI) stocks, taking the third place, according to the latest figures.
A statement issued by Bahrain Economic Development Board (Bahrain EDB), said Bahrain has secured a record $6.8 billion FDI inflows in 2023, according to the latest World Investment Report (WIR 2024) by the United Nations Conference of Trade and Development (UNCTAD), a WAM report said.
Marking one of the highest ratios in the world, Bahrain’s FDI stocks relative to GDP stood at 99.7% as of the end of 2023, a figure significantly higher than the global average of 46.9%.
Top countries
According to Bahrain’s Information & eGovernment Authority, the top countries contributing to Bahrain’s FDI stocks as part of a diverse portfolio include Kuwait (36%), Saudi Arabia (23%) and the UAE (10%).
The figure tops the previous record set in 2022, marking a huge increase of 148% from $2.8 billion. This contributed to the growth of cumulative inward FDI stocks, which climbed from $36.2 billion in 2022 to $43.1 billion in 2023.
Noor bint Ali Alkhulaif, Minister of Sustainable Development and Chief Executive of Bahrain EDB, said: “The milestone FDI inflows attracted in 2023 reflects the strength of Bahrain’s value proposition and continued standing as a trusted destination of choice for regional and global investors seeking best value operating costs in a strategic location that serves as an ideal gateway to the region and beyond.”
--TradeArabia News Service
