Bahrain attracts $200m of manufacturing, logistics investment in H1 2017
Bahrain’s manufacturing and logistics sector attracted more than $200m of investment during the first half of 2017, according to the Bahrain Economic Development Board
Bahrain’s manufacturing and logistics sector attracted more than $200m (BHD75.4m) of investment during the first six months of 2017, according to figures released Bahrain Economic Development Board (Bahrain EDB).
The H1 investments, which were facilitated by incentives launched by Bahrain International Investment Park (BIIP) and Bahrain Logistics Zone (BLZ), are expected to result in the creation of approximately 1,000 new jobs during the next three years.
Related investments include Mondelez International’s plans to build a global manufacturing and distribution hub in BIIP, and the development of Armada Group’s regional distribution centre in BLZ.
Khalid Al Rumaihi, chief executive of Bahrain EDB, commented: “The economic transformation taking place in the GCC is creating exciting opportunities for manufacturing companies, and we are delighted that many are choosing Bahrain as a location from which to access them.
“Further investments, such as the ongoing modernisation and expansion of Bahrain International Airport, the building of a second causeway to Saudi Arabia, and additional regulatory reforms, are expected to make it even easier for businesses looking to access the region from Bahrain, and we look forward to welcoming more firms in the coming years,” he added.
US-headquartered snack company, Mondelez, is constructing a biscuit production plant in BIIP that will produce brands such as Oreo, Ritz, and Tuc. The facility is expected to create 200 jobs in the initial phase.
GCC-based textile and fashion distribution company, Armada Group, has invested $50m (BHP18.9m) in its BLZ facility, which is expected to create 400 direct jobs over the next three years for Bahraini nationals.
Other companies to invest in Bahrain’s manufacturing and logistics sector in H1 2017 include ECU Worldwide, SMSA Express, Elsewedy Electric, Mennekes, Sonmez Metal, Tsinx Environment Technology, Almajdouie Holding, and Lals Group. Kuehne + Nagel, Sandvik, and Agility Logistics have also announced plans to expand their local operations.
Bahrain’s manufacturing, transportation, and logistics sector accounted for 20.3% of the country’s gross domestic product (GDP) in 2016. Bahrain EDB stated that the sector continues to grow at a “significant rate”.