Bahrain signs deal for Chinese logistics hub
The Bahrain Economic Development Board (EDB) signed a letter of intent with China’s Worldwide Logistics to establish a presence in Bahrain
Bahrain’s inward investment agency has signed three deals with Chinese companies to establish operations in the kingdom.
One agreement in particular could facilitate the creation of a new logistics hub for Bahrain adjacent to the under-construction Dragon City scheme, a 15,000 square metre Chinese-themed shopping mall in Muharraq, reported Arabian Business.
The Bahrain Economic Development Board (EDB) signed a letter of intent with China’s Worldwide Logistics to establish a presence in Bahrain, during a business trip to the Far East last month.
Worldwide Logistics Group is headquartered in Shanghai and provides shipping and logistics services, including sea, air and rail transportation, customs brokerage, warehousing, terminal handling, shipping agency, freight and cargo handling.
The group has 30 branches across China but no global offices at present, according to its website.
It has yet to be decided if the new zone would be aimed solely at assembling and distributing Chinese products in the Gulf, or manufacture them in Bahrain, too.
Two other letters of intent were signed during the delegation to China last month – with Jinlou Water, a utilities firm based in Shandong Province, and Baoshang Bank, an ‘A’ level credit rated bank headquartered in the Chinese industrial city of Baotou.
The two companies are now in discussions with the EDB over plans to establish a presence in Bahrain.