Austrian companies explore investment opportunities in Bahrain

Manama, Dec. 14 (BNA): An Austrian Business delegation visited Bahrain to learn about the investment opportunities the Kingdom has to offer. The delegation, led by Gerd Bommer, Commercial Counsellor in the Austrian Embassy in Doha, consist of representatives from 12 Austrian companies representing various sectors such as financial services, leisure, consultancy, ICT, electronics, and manufacturing. The Economic Development Board (EDB) are hosting the delegation as part of its efforts to attract investments to the Kingdom and promote its business environment to potential investors. Officials from the EDB presented the various opportunities Bahrain provides Austrian investors and its open and free economy, including its competitive cost of doing business and skilled national workforce that strengthen the Kingdom’s various sectors. The delegation also had a chance to network with Bahraini counterparts with the EDB organising a total of 15 B2B meetings for the delegation with Bahraini companies to discuss potential cooperation and joint ventures. Commenting on this, Khalid Al Rumaihi, Chief Executive of the EDB said: "We have noticed huge interest among business delegations the EDB meets in Bahrain’s competitive business environment and the openness and strategic location it provides companies looking to expand to the gulf region," "Such advantages are attracting international investors to strengthen trade cooperation with Bahraini companies and focus on developing trade and investment ties between the two sides and of which contributes to creating more jobs for Bahrainis in line with EDB’s development plans." The role of EDB international office in Germany was instrumental in organising the delegation’s visit to the Kingdom. The office, established in 2011, functions with EDB’s goals as a guide map with the sole purpose of attracting investments to the Kingdom from countries such as Switzerland, Austria, Holland and Belgium in addition to Germany. It also works to promote Bahrain’s business environment and investment opportunities through various means including forums and B2B meetings.