Mubasher: Bahrain has attracted 40 new companies with investments reaching $281 million during 2016, as a result of the efforts by the Bahrain Economic Development Board (EDB), according to a recent statement.
These new companies are expected to generate a total of 1,647 jobs opportunities over the coming three years.
This value is about 100% higher than the $142 million worth investments registered in 2015.
“The tourism sector attracted 75% of total investments whilst the manufacturing and logistics sector accounted for 15%, and the financial services sector a further 9%,” according to the statement.
“IKEA also announced its $124.8 million (BHD 48 million) investment to establish its largest flagship store in the Gulf, covering a total area of 37,000 sqm,” it added.
Armacell, which is a world leader in flexible insulation foams, plans to invest around $16million (BHD 6 million) on its new plant at Bahrain International Investment Park (BIIP).
