The Economic Development Board revealed that direct investment in manufacturing and logistics services reached $291 million in the first nine months of 2022, as Bahrain seeks to diversify its oil-based economy.
The investments, through 25 manufacturing and logistics companies established and expanded in the country, are expected to create 1,200 jobs in the next three years. Manufacturing accounts for more than 13 percent of Bahrain's GDP.
The manufacturing and logistics sector accounted for more than 30% of the total direct investment that the council attracted this year until the end of last September, amounting to $921 million, up from $839 million in the whole of last year. The investments of $921 million are expected to create 4,700 jobs in the next three years in sectors including financial services, information and communications technology, and tourism.
Bahrain's economic recovery plan, which includes $30 billion in strategic projects, aims to grow non-oil GDP by 5 percent this year and create 20,000 "quality" jobs for Bahrainis each year for the next two years.
Source (Al-Arab Newspaper of London, Edited)
