More than 110 announcements worth over $20 billion will be made during the two-day Gateway Gulf Investment Forum in Bahrain, Minister of Finance and National Economy Shaikh Salman bin Khalifa Al Khalifa said on Sunday.
The announcements will cover new partnerships, investments, projects and jobs, the minister said in his keynote address at the forum’s opening, according to the text published by News of Bahrain. He did not name the companies involved.
Prince Salman bin Hamad Al Khalifa, Bahrain’s Crown Prince and Prime Minister, inaugurated the fourth edition of the forum. The event runs on November 1 and 2 at the Four Seasons Hotel Bahrain Bay in Manama.
The Crown Prince said the kingdom would build on its record in attracting high-quality investment and strengthen its position as an investment destination.
In his address, the finance minister said the Gulf economy had grown to $2.4 trillion in gross domestic product. He said non-oil sectors now account for more than 86% of Bahrain’s GDP and more than 77% across the Gulf.
Gulf banks hold more than $4 trillion in assets, and Gulf sovereign wealth funds manage more than $5 trillion, he said.
The minister said the region’s economies had been tested since the last edition of the forum a year ago, citing what he called unprecedented attacks. He said Bahrain had responded by working more closely with allies and partners.
He said Bahrain’s pitch to investors rests on regulation, infrastructure and its workforce.
On the sidelines of the opening, the Crown Prince met senior participants from partner countries. Deputy Prime Minister Shaikh Khalid bin Abdullah Al Khalifa and the finance minister attended the meeting, the Bahraini daily Al Ayam reported.
The Crown Prince said expanding Bahrain’s international partnerships was an important route to sustainable economic growth, according to the newspaper.
