The second edition of the Gateway Gulf 2024 Forum concluded successfully, with announcements and deals exceeding $12 billion.
Organised by Bahrain’s Economic Development Board (EDB), the forum attracted 250 attendees, including ministers, government officials, and business leaders from around the world. The event focused on exploring investment and trade growth opportunities in Bahrain and the wider Gulf region, which aims to strengthen non-oil sector growth.
The two-day forum saw 32 announcements and deals reflecting Bahrain’s leadership in digital transformation, finance, manufacturing, tourism, and other high-value sectors.
In finance, Al Salam Bank launched ASB Capital, a newly established Category 3A asset management firm licensed by the Dubai Financial Services Authority (DFSA). SICO Bank introduced a range of investment products, while JPMorgan announced plans to hire tech specialists in Bahrain. Additionally, Bank of Singapore Gulf introduced corporate banking services targeting the global digital economy.
To support Bahrain’s digital transformation, Arie Innovations signed three new partnerships with National Bank of Bahrain (NBB), Aluminium Bahrain (Alba), and the Labour Fund (Tamkeen) to enhance advanced solutions in enterprise software, analytics, and AI. Beyon revealed its vision for a Digital City and signed a development agreement with Edamah.
In manufacturing, Alba and Daiki Aluminium confirmed their commitment to establishing a sustainable aluminium waste processing facility in Bahrain. Racing Force Group and Bahrain International Circuit announced the completion of the Bell Racing Helmets factory expansion and the start of construction on a new manufacturing facility. Bapco Energies reached a key milestone in its Bapco Refinery Modernisation Project to expand refining capacity in line with the latest sustainability standards.
Edamah, the real estate arm of Bahrain Mumtalakat Holding Company, announced several major projects, including the opening of its new Hawar Resort, operated by Mantis. Infracorp, focused on infrastructure and sustainable development, signed an agreement with Kempinski to develop the “Sky Villa” hotel, the first hotel in the mixed-use Harbour Heights project in Manama.
Government announcements included plans from Bahrain’s Ministry of Industry and Commerce to establish a National Industrial Development Fund and a Small and Medium Enterprises Development Fund. The Ministry of Housing and Urban Planning revealed plans for 3,000 housing units and apartments in Khalifa City, while Mumtalakat signed multiple agreements across its core portfolio sectors.
Alongside these key investment announcements, the second day of Gateway Gulf 2024 featured discussions on high-growth sectors in the region, including tourism, manufacturing, banking, and sports. The forum highlighted Gulf integration as a main theme, emphasising it as a catalyst for accelerating growth and fostering innovation across the region.
BNA(R)
