economic ties.
The B2B conference will focus on investment opportunities in the field of agriculture products, meat, fruits and vegetables, banking, aviation services, jewellery, chemicals, footwear,
furniture and textile.
Besides Bahraini businessmen, Pakistani, Arab, expatriate and international businessmen from across the Gulf countries would participate in the conference, which aims to build strong economic ties between Pakistan, Bahrain and the Gulf countries.
Several Pakistani entrepreneurs from Saudi Arabia have also shown interest in attending the conference with a view to enhance their supply chain and expand their business in both kingdoms.
Recently the government of Bahrain approved a new law giving foreign investors the opportunity to have 100% ownership of various business assets in the market.
The landmark ruling was approved at a cabinet session led by Prime Minister Prince al-Khalifah, according to media reports.
Analysts say the decision allowing foreigners to acquire full ownership of businesses in Bahrain will spur growth in the market.
The new ownership law will apply to different sectors, including food, administrative services, recreation and leisure, health and social work, information and communications, manufacturing, mining and quarrying, real estate and water supply.
The list also includes activities such as mining, traditionally viewed as too strategic to surrender to foreign ownership. Also undergoing a transition to comprehensive foreign ownership is manufacturing as well as real estate undertakings.
In the backdrop of full foreign ownership decree announced in July, the conference in the kingdom is expected to draw significant interests in bilateral investments in both countries, some analysts say.
The upcoming conference follows the successful visit by Bahraini delegation to Islamabad in July.
The delegation which was led by Sheikha Rana bint Isa al-Khalifah, Assistant Undersecretary Afro Asian Affairs at Bahrain Ministry of Foreign Affairs was informed by Pakistan’s Commerce minister Khurram Dastgir that Pakistan is opening new commercial
offices in Bahrain.
Rana informed the meeting that the Economic Development Board of Bahrain will open its office in Karachi to keep abreast with business and investment opportunities in the kingdom.
The meeting then decided to constitute Pakistan-Bahrain Business Council and make the Business Opportunities Conference a permanent feature of economic engagement between the two countries.
Speaking about the initiative, Ambassador Javed Malik said that following his meetings with Minister of Industry, Commerce and Tourism Zayed bin Rashid al-Zayani, meaningful efforts are underway to expand Pakistan’s economic ties with Bahrain.
He said that Bahrain is a hub of business and finance in the Gulf region and this presents attractive business opportunities to Pakistani businessmen.
“Similarly, Pakistan offers some lucrative and most attractive investment opportunities, which would be very interesting for Bahraini and Gulf
businessmen,” he added.