The Gateway Gulf 2024 Investment Forum kicked off at the Four Seasons Hotel in Bahrain, attracting top regional and international delegates. The event is showcasing the most impactful investment projects in the Gulf Cooperation Council (GCC), positioning Bahrain and the region as key hubs for future growth. The forum began with an opening address by H.E. Shaikh Salman bin Khalifa Al Khalifa, Bahrain’s Minister of Finance and National Economy, who highlighted Bahrain’s shift towards a diversified and resilient economy with 85% income generated from the non-oil sector.
Bahrain’s commitment to sustainable growth through its focus on non-oil sectors was emphasized by Shaikh Salman. As the Chairman of Mumtalakat, Bahrain’s sovereign wealth fund, he stressed the importance of competitive capital allocation to yield high returns on investments. The proximity to investment opportunities creates positive outcomes, further boosting Bahrain’s position as an attractive investment destination.
Indian Ambassador to Bahrain, H.E. Vinod K Jacob, lauded the robust economic ties between India and Bahrain with a 40% increase in Indian investments in the kingdom. American Ambassador to Bahrain, H.E. Steven C. Bondy, expressed optimism about investment potential in Bahrain, noting the large American business delegation at the forum. He highlighted the attractiveness of Bahrain as a business hub and the opportunities available for American companies in the region.
Geopolitical challenges were also a significant topic of discussion at the forum, with Saudi Arabia’s Minister of Investment addressing the risks posed by geopolitical factors in the region. However, he emphasized that military cooperation among GCC countries has helped mitigate these risks, maintaining investor confidence. The importance of strong leadership and long-standing alliances for regional stability and resilience was underscored by Shaikh Salman.
Lord Gerry Grimstone, Chairman of Gemcorp Capital, shared a positive outlook on Bahrain’s hospitality and tourism sectors, mentioning growing interest from Western investors. He highlighted the importance of resilience in technology and geopolitics for businesses to thrive in the region. Additionally, H.E. Abdulla bin Touq Al Marri, the UAE’s Minister of Economy, discussed the UAE’s Golden Visa program and hinted at a potential GCC-wide visa system to enhance the region’s position as a trade hub.
The Gateway Gulf 2024 Investment Forum has showcased the immense potential for investment in Bahrain and the wider GCC region. With strong participation from both regional and international investors, the forum has become a crucial platform for discussions on economic growth and resilience. The collective GDP of Gulf countries is expected to reach $3 trillion by 2030, with Saudi Arabia and the UAE contributing over 75% of that total. The forum has highlighted the promising future of Gulf economies and the opportunities available for investors in the region.
