Bahrain announces big ticket investment plans for Kerala

Kochi: Bahrain is planning to invest in various sectors in Kerala in a big way.

Bahraini Minister for Transportation Kamal bin Ahmed Mohamed said here on Monday that his country had identified various sectors, including real estate, healthcare and infrastructure, in the State for investment.

Discussions on
“We had a series of discussions and B2B meetings with government and other private firms in this regard. Some of the projects are expected to be finalised in the next round of discussions,” the Minister told reporters here.

However, he refused to divulge the volume of investments. It is too early to give any figures, he said. The Minister was part of a business delegation to Kerala from Bahrain led by Prince Salman Bin Hamad Al-Khalifa, the first Deputy Prime Minister and Chairman of the Bahrain Economic Development Board.

The visit aims to strengthen bilateral, political and trade relations between the two countries.

The delegation visited Kochi and conducted a series of meetings with senior officials and members of the private sector in order to demonstrate Bahrain’s position as a gateway to the Gulf.

Bahrain also evinced interest in the Financial City project announced by the Kerala Government in the recent budget.

An MoU was also signed between the Kozhikode-based Baby Memorial Hospital and VKL Group, a member of Al Namal Group in Bahrain. Baby Memorial Hospital will manage two hospitals and one medical centre being promoted by VKL group in Bahrain.

The visit also provided an opportunity to boost links between the two countries who have always maintained a friendly and stable relationship, he said.

He pointed out that total trade between India and Bahrain in 2011 was $ 1.7 billion and is looking at a growth rate of 3-4 per cent in 2013.

Crisis impact
On the global economic crisis, especially its impact on the Gulf countries, he said Bahrain was one of the countries in the Gulf region not affected by the crisis. There was only a slowdown in the economy at the time of the crisis in 2008 with a growth rate of 3.9 per cent.

However, the country maintained a growth rate of 5 per cent in 2012 and would go up further in 2013, he said.

“We are not looking at an artificial growth rate but a sustainable one”, he said. The financial sector contributed more to the country’s economy followed by logistics and tourism.