Bahrain 'a business friendly investment oasis'
Manama, October 21, 2011
Bahrain was promoted as a business friendly investment oasis at a chemical conference held in the Indian state of Gujarat which was attended by 1,200 leading chemical experts.
Mashal Group chairman Dr Yousef Mashal gave a speech on the benefits of investing in Bahrain at the 'Indian Chem Conference' in Ahmedabad on October 15 and 16.
Dr Mashal highlighted the advantages of setting up a chemical industry in Bahrain, particularly because of the country's close proximity to Sabic in Saudi Arabia, which is one of the largest chemical producers in the world.
'Many of the conference attendees weren't aware about Bahrain's proximity to Saudi Arabia, so it was a good opportunity to inform them and to let them know Bahrain is safe and is still an investment oasis in the region,' said Dr Mashal.
'Many have really understood for the first time some of the advantages Bahrain has to offer, such as it is the financial centre of the region, there are no restrictions on money coming in and going out and we live here open.
'I also highlighted that they can have 100 per cent ownership and there is no need for a local partner in industry,' Dr Mashal added.
He had an audience with Gujarat Chief Minister Narendra Modi and presented him with a memento of a Bahrain map that highlights sites in the industrial area.
Dr Mashal briefed him on the political and economic situation in Bahrain, which started with the reforms of His Majesty King Hamad and how the country had moved ahead in a similar way to Gujarat.
He explained that despite the unrest in February and March, Bahrain is still growing and the political and economic reforms weren't affected.-TradeArabia News Service