Bahrain's manufacturing sector fuels growth
The report highlights the kingdom’s ambitious project pipeline, analysing its role as a driver of growth in what remains a challenging economic climate
Bahrain remains an attractive draw for investors due to its well diversified economy and buoyant manufacturing sector, a new report by the global research and consultancy firm Oxford Business Group (OBG) reveals.
The report highlights the kingdom’s ambitious project pipeline, analysing its role as a driver of growth in what remains a challenging economic climate.
Bahrain’s infrastructure programme, which includes a $1.1bn airport expansion project, $700m worth of road and bridge construction, and several housing projects, has also allowed the gulf nation to weather regional economic challenges faced by low oil prices.
According to the report, one of the biggest sectors of growth however is manufacturing, which is buoyed by improved logistics and connectivity.
In fact, the manufacturing and logistics sector accounted for 15% of total investment made in 2016, with key developments in the area, such as the launch of the country’s first freehold trade zone, boosting the sector.
Andrew Jeffreys, OBG’s CEO, said: “While Bahrain has had to cut public spending and reduce subsidies to accommodate a widening fiscal deficit, the country’s strengths, which include an educated workforce and established regulatory framework, make it an attractive draw for investors.
“With its plans to focus on upstream and downstream industries for future growth advancing, the kingdom’s longer-term prospects look bright.”