Bahrain Economic Development Board Opens Office in Hong Kong

MANAMA, BAHRAIN - Media OutReach - 1 September 2016 -The Bahrain Economic Development Board (EDB) is pleased to announce the launch of its Hong Kong office.

The Bahrain EDB is a government organisation with overall responsibility for attracting foreign investment into the Kingdom of Bahrain and which works to enhance the quality of its business environment. The EDB focuses on several economic sectors that capitalise on Bahrain's competitive advantages. These sectors include financial services, manufacturing, ICT, tourism, logistics and transport.

Dr. Simon Galpin, Managing Director of the EDB, previously worked in Hong Kong for over 20 years and is an expert in investment promotion. He is now visiting the region to promote the activities of the new international office and meet with leading Hong Kong and Chinese businesses.

Bahrain's open business environment has attracted international companies from around the world looking to access the fast-growing Gulf Corporation Council's market, currently worth approximately US$1.5 trillion and expected to reach US$2 trillion by 2020. These opportunities have led to investment from a number of high profile Chinese companies, including Huawei and ChinaMex.

Dr. Galpin said: "Economic ties between the Gulf and East Asia are growing rapidly and this is reflected in the interest we have seen from businesses in Hong Kong who want to access the opportunities in the GCC market.

"Our international offices are a key part of our work at the EDB. They are a valuable source of advice and support and provide a direct, on-the-ground point of contact with extensive local expertise for overseas businesses interested in setting up in Bahrain. By opening an office in Hong Kong we will be able to showcase the investment opportunities that Bahrain has to offer directly to businesses and provide information about Bahrain's many competitive advantages."

Cheryl Wilson, newly-appointed Director of the Hong Kong office, also commented on its launch: "I am delighted to be joining the EDB team as its representative in Hong Kong.

"Hong Kong and Bahrain share many similarities. Both are small but important markets, acting as gateways to the large lucrative economies in their regions. They therefore have much to offer one another and we aim to encourage close economic ties between our two nations."

Bahrain is located at the heart of the Gulf and is connected directly to the GCC by sea, land, and air, with daily flights to key urban centres. Bahrain also shares a 25km causeway with Saudi Arabia, the largest market in the region. In addition to its strategic geographic location, Bahrain is also ranked the freest economy in the Middle East by the Heritage Foundation's 2016 Index of Economic Freedom, has the lowest operating costs in the GCC, along with a competitive taxation regime, and is home to one of the most highly skilled bilingual local workforces.

The EDB has international offices in a number of countries, including China, India, the UK, the US, Germany, Saudi Arabia and Japan.

For more information on the EDB and investing in Bahrain, please contact EDB Hong Kong's Regional Director Cheryl Wilson on the following email cheryl.wilson@bahrainedb.com or contact the Hong Kong office on +852 3575 9828.

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About the Bahrain Economic Development Board:

The Bahrain Economic Development Board (EDB) is a dynamic public agency with overall responsibility for attracting investment into the Kingdom and supporting initiatives that enhance the investment climate.

The EDB works with the government and both current and prospective investors to ensure that Bahrain's investment climate is attractive, to communicate the key strengths, and to identify where opportunities exist for further economic growth through investment.

The EDB focuses on several economic sectors that capitalise on Bahrain's competitive advantages. These sectors include financial services, manufacturing, ICT, tourism, logistics and transport.

For more information on the Bahrain EDB visit www.bahrainedb.com; for information about Bahrain visit www.bahrain.com.