Bahrain to attract $300 m in industrial, logistic investment in 2018.
07 : 53 PM - 08/11/2017
Manama, Nov. 8 (BNA): CEO of Bahrain Economic Development Board, Khalid Al Romaihi, said that 85% of Bahrain Logistic Zone has been leased, looking forward to leasing the remaining premises in 2018.
In a press statement on the sidelines of the opening of a new warehouse of SCHMIDT Middle East Logistics, Al Romaihi said the EDB, in cooperation with joint efforts of the National Oil and Gas Authority and Transportation and Telecommunication Ministry, have succeeded in attracting the global company, SCHMIDT ME Logistics, to operate in Bahrain, which will provide the kingdom with an investment opportunity to provide petroleum products and petrochemicals storing and shipping services to neighboring countries.
He noted that the EDB is currently planning on attracting logistic and industrial investments from Germany, China, Britain and Italy.
He pointed out the advantages offered by Bahrain for attracting industrial and logistic investments, including lower labour and operating costs compared to neighboring countries, noting Bahrain's strategic geographical location, flexible laws and free ownership right.
He expected Bahrain, in 2018, would be successful in attracting new investments ranging from $200 million to $300 million, most of which are in industrial sector and logistic services.
BNA 1639 GMT 2017/11/08
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