The Kingdom of Baharain which has a large number of Indian population will hold roadshows to tap FDI from Visakhapatnam and other Indian cities.
Tax-free regime as well as quality of labour, ready availability of infrastructure and cost of power and gas has made Bahrain an attractive destination for FDI. The emirate has received over $900 FDI during 2014-15, an increase of 11 per cent over previous year.
Incentives like no corporate tax, no personal tax, no witholding tax and permission to have 100 per cent ownership of manufacturing units are being showed as the reason for increase in interest for overseas investors in Bahrain.
Economic Development Board of Bahrain (EDBB) Country Manager (India, Singapore and Malaysia) Dharmi Magdani told The Hindu that they were diversifying into various sectors including augmenting financial and insurance activity. The kingdom is looking at business partnerships in ICT, food processing, logistics, dairy development and light manufacturing sectors. Ms. Magdani said of 1.3 million population, they had 50 per cent expatriats and Indians numbering 3.5 to 4 lakh.
EDBB acts as facilitator to woo investors. Growth in demand for manufactured projects in the Gulf Cooperation Council (GCC) offers an ocean of opportunities for Indian entrepreneurs.
The kingdom is looking for partnerships in ICT, food processing, logistics and dairy development.
- Dharmi Magdani,EDBB Country Manager (India, Singapore and Malaysia)
