EDB welcomes Japanese business delegation

Manama, Nov. 19 (BNA): The Bahrain Economic Development Board (EDB) has hosted a Japanese business delegation as part of their efforts to attract investments and promote the Kingdom’s business environment. The delegates, which included representatives from 14 companies from various Japanese food manufacturing and other commercial products sectors, were briefed about the investment opportunities and potential for further trade cooperation with the Kingdom. The purpose of the visit was to introduce the delegation to the opportunities that Bahrain’s business environment presents and to create effective networks of communication and cooperation between Bahraini and Japanese businesses, in order to assist Japanese companies looking to enter the wider GCC market through the Kingdom of Bahrain. The delegation were briefed by EDB officials on the Kingdom’s various competitive advantages, including the availability of a skilled bilingual work force, highly competitive operating costs, and Bahrain’s strategic location in the region. Khalid Al Rumaihi, Chief Executive of the Bahrain EDB, commented: "We were pleased to host this visit by the Japanese delegation, which demonstrates the interest by international companies in the opportunities for investment in Bahrain. We look forward to supporting the companies that have attended, and to work with them in identifying potential local partners in order to further develop the trade partnerships between the two countries." The Japanese delegation will also be touring the Bahrain International Investment Park (BIIP) during their visit to the Kingdom, as well as holding individual meetings with their Bahraini counterparts as part of a session being hosted by the Bahrain Chamber of Commerce and Industry. The EDB’s Japanese office, which was launched in 2002 and also covers South Korea and Taiwan, has played a vital role in organizing the Japanese business delegation’s visit. The EDB’s Japanese office is focused on attracting foreign direct investment from the region and promoting Bahrain’s businesses and investments. His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister, conducted a visit to the Empire of Japan in March 2013 which resulted in the two countries signing a number of MOUs aiming at strengthening trade cooperation and encouraging mutual investments. The MOUs were signed by government ministries and private sectors companies and institutions and covered a variety of sectors including education and training, oil and gas, financial services, healthcare, pharmaceuticals and cosmetics products amongst others. Bahrain EDB also signed an MOU with the Japan Electronics Show Association (JESA) in September 2014 aiming at strengthening cooperation between the two parties in promoting and developing bilateral relations and facilitating the exchange of technical information relating to the IT services industry in the two countries. The agreement also provided the necessary framework for developing and following up on the cooperative activities and projects. The Kingdom has a long history of economic and diplomatic relations with Japan dating back to 1934 when Bahrain sent its first oil tanker to Japan. Since then, the relationship has developed and Bahrain is now the regional headquarters of a number of leading Japanese companies, including: Nomura Securities, Toyota, Yokogawa and Daiwa Securities.