Bahrain was praised for its economic openness and vision at the 'Invest in Bahrain 2011 Forum' yesterday by speakers who saw the event as helping to create more cross border economic unity.

'We are proud to be here today in Bahrain which opens its arms to its Arab brothers and friends from regional and global markets,' said General Union of Arab Chambers of Commerce president Adnan Kassar.

'This forum to promote investment opportunities in this country reflects the growing interests on the part of investors in domestic investing.

'The kingdom is one of the leading countries in the region in economic openness and freedom. This is true in financial and banking services, or at the level of investment incentives.'

'According to the United Nations reports, Bahrain has been the first in the region in terms of economic freedom,' he added.

'Bahrain possess a unique experience in attracting national and international investments,' said GCC Chambers of Commerce second deputy to the president Khalil Abdullah Khonji.

'This came as a result of the continued care and support from its leadership, the provision of a favourable investment environment as well as the kingdom's keenness to provide all the facilities and possibilities for investors and introduce them to the available opportunities,' Khonji added.

'We look forward to the contribution of this forum to the formation of a regional block that constitutes a platform for the meeting of business community, investors, representatives of major companies as well as local and regional finance institutions and banks for the exchange of opinions, and serves as an umbrella to activate participation of the private sector,' he added.

'This event will highlight Bahraini-Gulf co-operation, which we hope will be the first real comprehensive economic integration among the GCC states,' said Bahrain Chamber of Commerce and Industry (BCCI) chairman Dr Essam Fakhro.

'The recovery of the kingdom from the unprecedented and unfortunate events witnessed this year adds to the significance of the forum.

'The BCCI takes this opportunity to pay tribute to the solidarity of the GCC nations and their brotherly stances in support of Bahrain during those days,' he added.

'We extend our gratitude to the leadership of the GCC countries. We also appreciate the support of GCC nationals.

'The assessment of the investment climate in any country lies not only in the legislation, incentives and services, but also in the confidence of the people of country.

'This confidence encourages foreign investors and the development of investment in any country.

'Bahrain has been classified as having one of the most advanced economic and political systems in the world under the leadership of our rulers,' Dr Fakhro added.

'Today, Bahrain is ranked 10th in the world according to the Index of Economic Freedom, released by The Heritage Foundation in collaboration with the Wall Street Journal,' he said.-TradeArabia News Service