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Bahrain attracts over $100 million in Singapore investment since 2023
Bahrain EDB’s Singapore office offers advisory services, market insights, and connections to key decision-makers.
The Bahrain Economic Development Board (Bahrain EDB) announced at the Singapore Fintech Festival 2024 that Singapore-based companies have committed over $100 million in investments to Bahrain since November 2023. This marks a significant milestone for the island nation’s investment promotion agency.
The results showcase Bahrain EDB’s successful international outreach, with its Singapore office, established just a year ago as the first in ASEAN, playing a key role.
Noor bint Ali Alkhulaif, Minister of Sustainable Development and Chief Executive of the Bahrain Economic Development Board, praised the achievement as a reflection of the trust international investors place in Bahrain’s value proposition.
“This milestone achievement is a testament to the impact and agility of our ‘Team Bahrain’ approach, wherein both the public and private sectors work in tandem to ensure Bahrain’s investment environment remains attractive, defined by forward-looking regulatory frameworks and streamlined services, offering a seamless journey for businesses setting up in our nation.”
Bahrain boasts a skilled workforce, supported by government grants and subsidized programs designed to meet the evolving demands of the global market. Women account for 34% of the financial services and insurance sectors, with major firms like Citi choosing Bahrain as a base for their tech hubs and service centers. The nation’s advanced digital financial services sector accounted for nearly 17% of real GDP in 2023.
The sector features a diverse mix of international banks, fintechs, and digital asset companies, including Singapore-based firms like Whampoa Group’s Singapore Gulf Bank and Crypto.com, which was recently licensed to offer payment services.
Dalal Buhejji, Executive Director of Financial Services at Bahrain EDB, emphasized Bahrain’s long-standing role as a center for innovation in financial services. She highlighted the Central Bank of Bahrain’s pioneering efforts in developing the financial sector through robust regulatory frameworks, including regional firsts in crypto assets and open banking.
Bahrain EDB’s Singapore office plays a vital role in supporting business expansion into Bahrain, offering advisory services, market insights, and connections to key decision-makers. It also provides ongoing support to ensure the success of companies operating in Bahrain, a key gateway to the MENA region.
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