Bahraini Ambassador: The Kingdom's Investments in Egypt are $3.2 billion

Ambassador Hisham bin Mohammad Al-Jowder, the Bahraini Ambassador to Egypt and Permanent Representative to the League of Arab States, said Sunday that the volume of Bahraini investments in Egypt amounted to $3.2 billion for 216 projects, while the Kingdom ranks 16th in the list of countries investing in the Egyptian market.

During his participation in the activities of the "Investment Opportunities Forum in the Financial and Banking Sector in the Kingdom of Bahrain and the Arab Republic of Egypt", the Bahraini Ambassador in Cairo tgave a speech which was organized by the Bahrain Businessmen Association in cooperation with the Egyptian Businessmen Association.

Al-Jowder added that the top ten Bahraini companies invest $753.3 million in Egypt, including a number of existing investments in the financial and banking sector, as they contribute $309.6 million to Ahly United Bank Egypt, and $117 million to Al Baraka Banking Group.

It also contributes $90 million to the Arab Banking Corporation, and Ithmaar Bank contributes $43.6 million to Faisal Islamic Bank, and other investments in this important banking sector.

The Bahraini ambassador pointed out to the visit to Cairo by a delegation of the Bahrain Chamber of Industry and Commerce, last May, and discussed the establishment of a direct trade hub between the Kingdom of Bahrain and Egypt, to strengthen economic cooperation and increase the rates of inter-trade and joint investments in various fields, including the financial and banking sector.

The Ambassador of Bahrain appreciated the great efforts made by the Egyptian government to attract Bahraini investments to Egypt, and "the brothers' keenness to overcome any obstacles facing Bahraini investors."

"The Kingdom provides facilities for foreigners by allowing them to own commercial records at 100% in most sectors and provides foreign investors with a long-term residence permit," he said.

The Kingdom ranks first in the world as the best place to live, and the financial services sector is one of the most important and promising sectors for investment in Bahrain.

At the end of his speech, the Bahraini Ambassador affirmed the readiness of the Embassy of the Kingdom of Bahrain in Cairo to do everything in its power to coordinate and facilitate the work of investors in both countries, in coordination with the Egyptian ambassador to Bahrain, Yasser Shaaban.