Food: the crucial role of Edb in Bahrain
Objective: to develop local production but also to increase foreign investments in the Kingdom
The Bahrain Economic Development Board (EDB) will play a crucial role in the strategy that aims to secure the Kingdom's food supply, according to Khalid Humaidan, Chief Executive of the EDB. “Bahrain imports most of its food products, and we have realized that the absence of local production is an issue we need to resolve. We wish to speak with global food producers and industries to start production here in Bahrain”, he stressed. In addition to the food sector, the Council's attention is also directed to the financial, manufacturing, technology and innovation, tourism, education, health, logistics and transport sectors.
A strategy that undoubtedly aims to focus the attention of new potential foreign investors in a significant way towards the Kingdom. With regard to data on direct investments in Bahrain, in fact, Humaidan informed that in 2020 the country attracted more than one billion dollars, mostly destined for professional, technical and scientific activities (700 million), to the construction sector (300 million). and to the retail and wholesale sector (300 million). These investments, which are expected to generate 4300 jobs, came from Luxembourg (65%), the Cayman Islands and India. "FDI - Foreign direct investment, Ed. - currently amounts to about 80% of our nominal GDP, a very high percentage according to international standards and double the world average". The Chief Executive therefore concluded by stating that the capital Manama was named, among the medium and small cities, first in the world in the "2021 Global cities of the Future Index" of the Financial Times' fDi Magazine, precisely for its attraction strategy of FDI.
EFA News - European Food Agency