BizBahrain April 2016

Highlights | Government
Oil & Gas Platform for Bahrain and Malaysia
The Bahrain Economic Development
Board (EDB) and the Malaysia
Petroleum Resources Corporation
(MPRC) have signed an MOU to promote
cooperation and explore opportunities
in the oil & gas sectors on the side lines
of a business forum hosted by MPRC in
conjunction with Offshore Technology
Conference Asia 2016.
Bahrain and Malaysia have a history
of firm bilateral relations and engagement
on a variety of economic and strategic
fronts. In addition to manufacturing and
EDB Bahrain Hosts Chinese
Delegation
Forty Chinese investors from various
Chinese cities representing a
number of sub-sectors within the food
and restaurant industry visited Bahrain
to explore potential opportunities
for cooperation and investment. The
delegation participated in meetings
with key officials at the EDB, where they
were introduced to the Kingdom’s key
competitive advantages and economic
landscape. The Chinese delegation
also meet with their local business
counterparts at the Bahrain Chamber of
Commerce and Industry.
EDB officials briefed the visiting
delegation about the investment
oil and gas, both countries are leaders and
innovators in Islamic finance and rapid
growth has prompted closer ties in this
sector. A number of Malaysian financial
institutions such as CIMB and Malayan
Banking Berhad (Maybank) have offices in
Bahrain, and in 2012, Bahrain’s investment
arm, Mumtalakat Holding Company, raised
around $1 billion in an Islamic bond issue
on the Bursa Malaysia.
Malaysian construction companies
are also performing well in Bahrain and
have successfully delivered a number
of large-scale and high profile projects
including the Formula One circuit, the
North Manama corridor project, the
Shaikh Khalifa bin Salman Highway, and
the Bahrain City Centre.
Malakoff Corporation, Malaysia’s
largest and one of Southeast Asia’s
largest independent power producers has
acquired a substantial stake in Bahrain’s
Hidd Power Company as part of its global
expansion and further highlighting the
strength of the two nation’s investment
relationship.
opportunities that Bahrain’s mature
and open economic environment offers.
Companies looking to establish operations
in the Kingdom will be able to benefit from
the numerous advantages that Bahrain
offers investors, including low operating
costs, a highly qualified bilingual
workforce, and unique access to its GCC
neighbours. The hotels and restaurants
sector is also one of the fastest expanding
areas of the Kingdom’s economy, totaling
8% over the first three quarters of 2015.
Mr. Khalid Al Rumaihi, Chief
Executive of the Bahrain EDB, commented,
“The GCC market is growing and the
demographic dynamics are changing,
with Bahrain uniquely positioned as a
gateway from which companies are able
to access this market.”
The delegation’s visit is a part of the
EDB’s strategy to strengthen bilateral,
economic, and investment cooperation
with The People’s Republic of China which
is one of Bahrain’s leading commerce
partners. In 2015 the EDB hosted 20
Chinese delegations covering various
sector and provinces of China.
“Be Productive” Home
Business Initiative
Yousif Ali
Executive Director of Customer Engagement
and Support, Tamkeen
As part of its efforts to support
enterprises and provide them with
continued growth and development
opportunities, the second edition of
Tamkeen’s successful “Kun Muntijan”
(Be Productive) initiative was held.
The initiative was part of a series of
interactive events which help microenterprises
become more aware of the
support and solutions available to them.
Tamkeen’s partners in the initiative
include the Ministry of Labour & Social
Development, the United Nations
Industrial Development Organization
(UNIDO), Bahrain Chamber of Commerce
and Industry (BCCI), the Social Media Club
(SMC), Family Bank, Ebdaa Bank, Khaleeji
Commercial Bank, Al Eslah Society,
Batelco, Zain, VIVA, Tam Express and
PayTabs.
“Kun Muntijan” provides participants
with a supportive environment while
supplying them with the tools to develop
their businesses further. The activities
included lectures highlighting the
importance of micro-enterprises and the
key challenges they are facing in areas
such as licensing, finance and other
critical functions. Tamkeen partners also
showcased their products and services.
Yousif Ali, Tamkeen’s Executive
Director of Customer Engagement and
Support, lauded the initiative, saying,
“Tamkeen is working continuously
to provide support for individuals
and enterprises during all stages of
their professional devlopment. Home
businesses in the establishment phase,
seeking to build their brand and market
their businesses and products are one of
the key segments to which we focus our
support.”
56 May 2016