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Bahrain-Egypt economic co-operation to be highlighted

INVESTMENT opportunities between Bahrain and Egypt will be the focus of an online business forum scheduled for next week.

‘Investment Opportunities in Bahrain and Egypt’ will highlight avenues of co-operation between the two nations in the economic sector.

The forum, which will be held remotely on September 8, will feature businessmen from the private sector, officials from the economic and investment bodies as well as experts from both countries.

“Hosting this forum is part of efforts to revitalise the trade and industry movement between the two counties while also encouraging joint investment especially after the global economic crisis resulting from the repercussions of the pandemic,” said Bahrain Businessmen Association chairman Khalid Al Zayani in a statement yesterday.

“The joint investment forum reflects the pivotal role of businessmen’s associations in advancing economic relations by highlighting investment and commercial opportunities.

“It also aims at discussing promising areas for joint co-operation to activate all means of advancing economic growth in both countries and to stimulate markets and trade while also increasing joint investment.”

Mr Al Zayani highlighted that the forum includes governmental and diplomatic participation as well as financial, business and investment experts from the private sector including Bahrain’s Ambassador to Egypt Hisham Al Jowder as well as Egyptian Ambassador to Bahrain Yasser Mohammed Shaaban.

Keynote speakers from Bahrain include Sustainable Energy Authority president Dr Abdulhussain Mirza, Bahrain Tourism and Exhibitions Authority chief executive Nader Almoayyed as well as Bahrain Economic Development Board real estate and tourism business development director Ali Murtadha.

Meanwhile, keynote speakers from Egypt include the Suez Canal Economic Zone chairman Yehia Zaki as well as the General Authority for Investment and Free Zones chief executive Mohammed Abdulwahab.

“The Egyptian Embassy is working on developing trade and investment between the two countries to achieve added value to both through relying on the distinguished political, economic and historical ties between the two brotherly nations,” said Mr Shabaan in a statement yesterday.

“The work plan adopted by the embassy in co-ordination with the Bahraini Embassy in Egypt and the Bahrain Businessmen Association and the Egypt Businessmen Association depends on several crucial points the key being increasing trade exchange which is currently around $500 million to $600 m.

“It also aims to highlight investment opportunities available in Egypt to attract investors from Bahrain – especially from the productive and service sectors – while also enhancing Egyptian presence in the Bahrain market which is an important gateway to the GCC market.”

He highlighted that Bahrain has investment incentives, an open job market as well as a special export platform into Saudi Arabia through the King Fahd Causeway.

He stressed that strengthening co-operation in various sectors that encourage investment – such as tourism, energy, medical services, pharmaceutical manufacturing and industries – are aimed to be achieved through the forum.

Participants from Bahrain will review investment opportunities in the energy sector as well as incentives provided in the kingdom to elevate the tourism sector to attract foreign investment as well as investment opportunities available in the banking and financial sector, the health sector, real estate sector as well as the foodstuffs sector.

The forum also includes a general discussion session regarding investment opportunities in Egypt as well as export potential in the industries of food and agriculture.

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