Dubai : The Economic Development Board (Bahrain EDB) has signed a memorandum of understanding (MoU) with the Japan External Trade Organisation in Dubai (Jetro Dubai) to promote direct investments.
This new partnership will further strengthen relations between Bahrain and Japan, resulting in a stronger partnership, and will help highlight Bahrain as an investment destination for Japanese companies, said an EDB statement.
The signing ceremony was held here today at the Bahrain Pavilion at Expo 2020 Dubai.
“Bahrain’s strategic location coupled with its strength in sectors such as logistics, ICT, and finance makes it an attractive destination for Japanese investments,” said Nobuhiko Sasaki CEO/Chairman of Jetro.
“Through this MoU, we look forward to creating new opportunities for Japanese companies looking to launch or expand businesses throughout the Middle East.”
“Bahrain’s developed regulations, competitive operating landscape, and skilled workforce are some of the key reasons why we continue to be an attractive destination for international investments from various markets.” said Khalid Ebrahim Humaidan, Chief Executive of Bahrain EDB.
“We are excited for the this partnership which will further solidify Japan as a key strategic market for us, and we look forward to a fruitful collaboration with Jetro.
The MoU has several key aims, including:
• Exchange of information in order to attract investment in both countries;
• Creating interaction opportunities between companies in Japan and Bahrain in order to facilitate investment in various areas;
• Providing advice on activities by both parties which will promote the development of a two-way economic and investment cooperation;
• Paving the way for economic and investment cooperation between companies in Japan and companies in Bahrain;
• Promotion of strategic sectors with mutual benefits to both Bahrain and Japan.
As a gateway to the region’s $1.4 trillion GCC market, Bahrain also provides unique technical skills.
The Kingdom was recently ranked first in the GCC for availability of advanced computer programming talent in ICT as a percentage of the population, according to the International Telecommunication Union (ITU).
Japan’s current FDI in Bahrain is already amongst the top 10 by stock and flows and Bahrain looks forward to growing this ranking further through initiatives such as this MoU that will facilitate more Japanes corporations to establish presence in the Kingdom, EDB said.
Bahrain has recently embarked on a National Economic Recovery Plan to drive growth.
