A new business and investment forum focusing on cutting bureaucratic red tape and addressing unequal treatment is expected to potentially double Asian investment in Bahrain.

Bahrain Asian Traders Committee (BATC) head Mohammed Sajid Shaikh told the Gulf Daily News (GDN), our sister publication, that the proposed inaugural 'Gateway to Arabian Gulf' forum is expected to see participation from at least five serious investors representing 16 Asian countries that are a part of the committee.

Speaking during an open forum of the BATC of the Bahrain Chamber of Commerce and Industry (BCCI) at the Beit Al Tijjar yesterday, Mr Shaikh said the event is slated to be held during the next few months and would also pave the way for reinvestment by more than 4,000 Asian businessmen and investors in Bahrain.

Shaikh said Bahrain should consider adopting best practices followed by places like Dubai and Singapore.

“A good idea would be to give any investor who invests more than $1 million a special card, which gives them quick visas, hotline or green-lines in government and immigration departments,” he said.

“We would like to see Asian businessmen given the same opportunities as GCC businessmen so they can compete effectively and even expand their business in Bahrain.”

The Asian businessmen have also urged the BCCI to organise periodic meetings with key ministries and other government bodies, where they can raise their issues and seek redressal.

BCCI chief executive Nabeel Al Mahmood assured the Asian traders that the chamber would do its utmost to help in resolution of their issues.

Key committee members who took part include vice-chairman Manoj Bhatia, Shabbir Sharafali, Saad Saleem Asghar Ali, Shakil Malik, Dilip Wijeyeratne, Sufyan Usman and G K Nair.

The committee said while it would continue to focus on profiling Bahrain in Asian countries to attract inward investment, it was important that existing investors' issues were addressed.

The meeting also saw discussions on topics such as promoting the attractive business climate in the kingdom, BATC's participation in inward and outward Asian countries' delegations and events to boost inbound and outbound investment. - TradeArabia News Service