BAHRAIN HOLDS INVESTMENT SEMINAR IN STUTTGART - OPENING UP GERMAN BUSINESS TO THE US$1 TRILLION GULF OPPORTUNITY
The Seminar, which will take place on 25th October, is being held alongside the leading regional trade show, Global Connect Forum (26th-27th October) which attracts Germany businesses from the Stuttgart region and other German commercial centres. Led by Shaikh Mohammed bin Essa Al Khalifa, Chief Executive, Bahrain Economic Development Board (EDB), the Seminar will also be attended by strong delegation from Bahrain public and private sector business leaders.
Interested German participants can register at:
Telephone: +49-89-3090488-32 or
Shaikh Mohammed commented on the upcoming event: “The six countries of the Gulf Cooperation Council (GCC) alone represent a market of around one trillion US dollars and with a rapidly expanding, young population this is set to grow further. Germany is home to some of the world’s leading companies and it makes sense for these businesses to look to Bahrain when seeking opportunities for expansion. Bahrain offers foreign investors unparalleled access to Gulf markets at a time when economies affected by the global economic downturn have contracted.
“The Bahrain Investment Seminar is a reflection of the synergies between Bahrain and Germany and the commitment to work together for mutual benefit. Bahrain’s stable economic climate, cost competitive environment and very attractive tax policies as well as our well-educated, trained and qualified Bahraini workforce, puts Bahrain firmly at the top of any consideration list for investing in the Gulf, and we have already seen a number of leading German businesses moving into the Kingdom.”
The Bahrain Investment Seminar will include a number of high level meetings between German and Bahrain business leaders and include discussions and presentations from a variety of companies who are already taking advantage of Bahrain’s business-friendly environment. There will be two moderated sessions on Manufacturing and Service sectors and one to one meetings for more detailed discussions.
Joining the delegation are Adel Al-Aali (Haji Hassan Group), Samer Al-Jishi (Bahrain Fiber Glass International), Tarek Wafa (Tricom Group), Dr. Nasser Qaedi (Tamkeen), Marek Syzmanek (Siemens Bahrain), Phillipe Mariani (Genesis Company), Hamid Al-Zayani (Al-Zayani Group), Martin Seeger (Hochtief), Sameer Nass (Nass Corporation), Bassam Ameen (Bahrain Logistics Zone), and Richard Ligon (Lausha Fiber International).
The visit comes as a significant investment is being made in Bahrain by German companies. Currently more than 40 German companies have a presence in Bahrain including Nokia Siemens Networks, Allianz Global Investors Europe, and Hochtief Facility management. Trade and commercial relations between Germany and Bahrain have always been strong and continue to grow. There are a number of trade associations and organisations fostering relationships between Germany and Bahrain: the Arab-German Chamber of Commerce and Industry (Ghorfa), the German-Arab Chamber of Industry and Commerce (AHK), as well as the embassies and foreign ministries. In October 2009 Bahrain hosted the Arab-German Family Business Summit, a forum for family businesses across the Gulf to meet leading family businesses from Germany.
The delegation will also attend the Global Connect Forum, at which Shaikh Mohammed will deliver a welcome address at the opening of the 1st GCC-Germany Investment and Business Forum “Building Bridges between Strong Partners” which will take place on 26th October.
The Bahrain Investment Seminar in Stuttgart is one of a number of international events involving the EDB which, following the directives of His Royal Highness Prince Salman Bin Hamad Al Khalifa, the Crown Prince of Bahrain and Chairman of the EDB, is responsible for creating the right environment to attract foreign investment as part of efforts to implement the initiatives of the Bahrain Economic Vision 2030. In September, the EDB led an investment delegation to Paris, France.
The Bahrain delegation hopes to build upon the close and long-standing commercial and economic relations between Bahrain and Germany. Recently there have been a number of high-level meetings between leading German and Bahraini delegations. His Majesty King Hamad Bin Isa Al Khalifa has issued a number of invitations to German representatives this year: in April the President of the German Bundestag (Parliament) Dr Norbert Lammert and an accompanying German delegation were welcomed to Bahrain, and in March former German Chancellor Gerhard Schröder, honorary chairman of the German Near and Middle East Association (NUMOV) also visited the country. This month a high-ranking German delegation led by Baden-Württemberg Finance Minister, Willi Stachele, visited Salman Industrial City in Bahrain and stressed keen interest in promoting trade and economic relations with the country in meetings with Bahrain Chamber of Commerce and Industry chairman, Dr Essam Fakhro.
About The Bahrain Economic Development Board (EDB)
The Bahrain Economic Development Board (EDB) is a dynamic public agency with an overall responsibility for formulating and overseeing the economic development strategy of Bahrain, and for creating the right climate to attract direct investment into the Kingdom.
The role of the Bahrain EDB is to provide leadership by uniting all of the Kingdom's shareholders through a unified vision, and to develop key strategies for growth. The Bahrain EDB also acts as a facilitator, helping all of Bahrain's stakeholders to understand and adopt the changes necessary for progress. In addition, the Bahrain EDB provides sound project management to ensure that all agreed reform initiatives are implemented in an effective and timely manner.
The Bahrain EDB is also responsible for attracting inward investment into Bahrain, and is focusing on six target economic sectors in which the Kingdom offers significant strengths. These are financial services, downstream industries, tourism, business services, logistics, and education and training.
For more information on the Bahrain EDB visit www.bahrainedb.com; for information about Bahrain visit www.bahrain.com
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