Bahrain’s economy fared well despite the global economic downturn, with the cumulative domestic and foreign direct capital rising by 20 per cent in 2009 as compared to the previous year, says a report.
Bahrain’s cumulative domestic and foreign direct capital reached BD18.3 billion ($48.5 billion) last year from BD15.3 billion in 2008.
The report, presented to the Cabinet by Industry and Commerce Minister Dr Hassan Fakhro, also showed an 8 per cent rise in the number of commercial registrations.
Chairing the weekly session, HRH Prime Minister Prince Khalifa bin Salman Al Khalifa paid tribute to King Abdullah for encouraging Saudi companies to invest in Bahrain, particularly in the telecom sector. It follows the official launch of Saudi Telecommunications Company’s operations in Bahrain.
The Cabinet gave the green light to the second phase of the Manama souq development project.