Bahrain's burgeoning business environment continues to create foreign investment opportunities, despite the knock-on effect of an uncertain global economy, according to Servcorp, the leading provider of serviced offices and business package solutions in the Middle East.
The Bahraini Government has ambitious plans to develop its non-oil sector, which according to the IMF accounts for 76 percent of Bahrain's total GDP. In 2016, the country secured a total of $280 million of foreign inward investment from 40 new companies.
“At Servcorp, we have witnessed an uptick in the market as both regional and global companies invest in the region. The government is actively seeking foreign and private sector investment – highly promising growth sectors include the financial services, industrial and manufacturing, logistics, tourism and information communications technology (ICT),” said Laudy Lahdo, Servcorp's Middle East General Manager.
According to Servcorp, regulatory reforms have helped to pique investment interest among foreign companies – Bahrain was the first country in the MENA region to integrate limited partnerships laws into its legal system nationwide with the introduction of the Limited Investment Partnership Law. New measures have also been adopted to support start-ups including reduced minimum capital requirements.
Commenting on the future Bahrain's business environment, Lahdo added: “Bahrain's rising population and skilled human capital are strong fundamentals driving the country's economy. Additionally, there are an unprecedented pipeline of large-scale infrastructure projects that are set to further stimulate the market including the Bahrain International Airport Expansion, The Avenues Mall and the King Hamad Causeway.
“Foreign investors definitely stand to gain from Bahrain's burgeoning business environment – the ease of setting up in the region allows individuals and corporates to establish a presence in only a course of days. At Servcorp, companies in Bahrain have the option to use our inhouse business registration capabilities – a platform developed to further facilitate the ‘set up' process,” added Lahdo.