(MENAFN) The UN Conference on Trade and Development (UNCTAD) found in its new data Bahrain to have seen a boost in its inflows of foreign direct investment (FDI) to 114 percent last year.
The growth rate, considered as the fastest in the GCC, was said to have been witnessed as the global FDI recorded a 23 percent decline.
Bahrain's investment growth has been driven by several economic reforms, such as changes in commercial properties law to allow 100 percent foreign ownership in some sectors, UNCTAD said in its report.
CEO of the Bahrain Economic Development Board (EDB) Khalid Al Rumaihi stated "foreign direct investment creates jobs, diversifies the economy and fuels growth, so we are delighted to see such strong momentum, even against a challenging global backdrop."
CEO Al Rumaihi also added that "this proves the growing interest in the GCC opportunity is translating into investment."
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