Manama is the capital and largest city of Bahrain, with an approximate population of 200,000 people as of 2020. Long an important trading centre in the Arabian Gulf, Manama is home to a very diverse population. Manama was designated as the 2012 capital of Arab culture by the Arab League, and a beta global city by the Globalization and World Cities Research Network in 2018. Today this blog will talk about benefits which Manama furthermore fetches for its land – Bahrain!
The Kingdom of Bahrain’s capital Manama has been named as the fifth internationally among all-sized cities and first small and mid-sized cities for FDI methodology in the 2021 Global urban communities of the Future list delivered by the Financial Times’ fDi Magazine.
What the heads had to say?
Commenting on the latest rankings, the Bahrain Economic Development Board’s Chief Executive, His Excellency Khalid Humaidan said: “In 2019, FDI stock made up 80% of our nominal GDP which is double the world average. We are very proud of this achievement and for being recognised for our FDI strategy. What is more promising is that three GCC cities have ranked in the top ten, highlighting the clear attraction for FDI in the region.
“This independent recognition is further confirmation that our board has set the right strategy for us to go forward and they continue to be supportive of our agenda.”
The Kingdom’s FDI methodology is nailed to a different multi-sectoral approach which is showing results and acquiring acknowledgement, as proven by Bahrain’s driving presentation in the overview.
Bahrain’s positioning in the FDI Strategy
Notwithstanding the Kingdom’s positioning in FDI Strategy, Bahrain was likewise positioned exceptionally in expense viability and business amicability, being sixth internationally and third in MENA, and seventh universally and second in MENA individually for small and mid-sized cities.
Bahrain has embraced an eager and passionate program of financial evolution, which has been additionally perceived by other independent studies and surveys. The 2020 World Bank Doing Business Report named Bahrain the fourth most improved country on the planet and a study by KPMG in a Cost of Doing Business Report featured that Bahrain is between 20-30 per cent more cost-savvy than a portion of its neighbours across numerous enterprises.
There are so many reasons attracting investment into the Kingdom and supporting initiatives that enhance the investment climate. There are so many key strengths, which identify that opportunities exist for further economic growth through investment. Several economic sectors are here that capitalise on Bahrain’s competitive advantages and provide significant investment opportunities.
Bahrain has got much to offer, and it’s one of the lands which proves its worth with a lot of evidence. It is high time you consider initiating a startup here. Moreover, if you are already functioning as a businessperson and want to get your policies documented, have any compliance, want amendment in-licenses, have a problem with annual ESR filing, acquisition or merger of business, debt recovery services or winding up of a company – BostonBrooks has all solutions from inception of business till end.