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Bahrain EDB to launch business initiative at F1

Manama, April 15, 2013

Bahrain Economic Development Board (EDB) will launch a new initiative focused on engaging the business community in a series of development and networking opportunities at the upcoming Formula One.

Gulf Air Bahrain Grand Prix will run on April 19, 20 and 21 at Bahrain International Circuit.

‘Business in Formula 1’ is a brand new addition to Bahrain’s Paddock Club and offers a high-performance networking hub in which guests can mix business opportunities with the unique experience of Formula 1.

It is the first time that the Formula One Paddock Club has been formally used as a strategic platform for proactive business development, in order to showcase the host nation and broaden the reach of the sport.

Each day of the Grand Prix race weekend will see a tailored business function take place in the Bahrain International Circuit’s Paddock Club Lounge, with key note speeches from business leaders.

Also taking part will be Formula One specialists, including three-time world champion Sir Jackie Stewart; and inspirational speakers such as Richard Noble, former Land Speed Record holder and now principal of the new Bloodhound SSC team; a project that is aiming to break the 1000mph (1,600kph) barrier on land.

A key focus will be on demonstrating Bahrain’s unique positioning as the natural gateway to the GCC market, through panel discussions with key figures from the Kingdom’s public and private sectors.

Kamal bin Ahmed, Minister of Transportation and Acting Chief Executive of the EDB, said: “The Bahrain Grand Prix provides a strong boost across the Kingdom’s economy – not least for the service industries that benefit from the race – and independent studies have shown the race generates a direct economic impact of $295 million and supports 3,000 jobs.”

“However, this initiative will extend the economic benefits from Formula One far beyond the race weekend, and will provide a great platform to engage with potential new investors and network with local, regional and international businesses with existing operations in the region,” he added. – TradeArabia News Service




Tags: Bahrain | EDB | Formula 1 | business | Grand Prix | Economic Development Board |

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