Bahrain is an 'opportunity worth 1.5 trillion dollars'

Investing costs 30% less than in Dubai. Digital, Itc in future

13 October, 18:53

    The meeting organized by Confindustria Assafrica & Mediterraneo in Rome The meeting organized by Confindustria Assafrica & Mediterraneo in Rome

    (by Cristiana Missori) 

    ROME - Bahrain has presented itself to Italian businesses with top sectors for investment including financial services, manufacturing, logistics, tourism and Itc at a at a meeting Friday in Rome, organized by Confindustria Assafrica & Mediterraneo. The small kingdom, located between the Saudi giant and Qatar, pursues the ambitious objective of becoming a regional hub open to the market worth about 1.5 trillion dollars where workers are well qualified, the business environment is favorable, there are no taxes on profit and 100% of the property remains in the hands of the investor.

    The event in Rome was attended by, among others, the minister for industry, trade and tourism, Zayed Bin Rashid Al Zayani, who participated with a delegation of entrepreneurs.

    They also attended Thursday the first edition of the Italian Arab Business Forum in Milan.

    Italy is the kingdom's first European partner with exchanges worth 400 million dollars. ''The visit - explained the minister - is the perfect occasion to strengthen the partnership between our two countries and promote multiple economic activities that Bahrain can offer to Italian companies, further attracting investment and diversifying employment opportunities''. Al Zayani noted that the kingdom needs to open up, like other countries in the Gulf Cooperation Council.

    Italian Foreign Undersecretary Benedetto Della Vedova said ''there are still wide margins to boost our commercial and industrial presence on Bahrain's market'' particularly ''in light of the ambitious program of economic diversification that the country is starting towards a more sustainable development.

    The government, Della Vedova stressed, ''follows with attention the investment program launched by Bahrain's authorities that offers opportunities to Italian companies in strategic sectors like infrastructure and transport and, obviously, energy''.

    On the table are 32 billion dollars in investments over the next five years.

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