Bahrain’s Economic Development Board (EDB) attracted a record number of investments during the first nine months of 2018.

Foreign direct investment (FDI) inflows increased by 138 per cent compared with the same period last year. This year, Bahrain EDB has already attracted 76 companies, accounting for an investment of $810m, breaking the 2017 record of 71 companies and a total investment of $733m.

The strong growth has come in spite of a challenging global environment for FDI, with global FDI flows falling 23 per cent in 2017.

This year's investments are expected to generate more than 4,200 jobs over the coming three years, of which more than 1,100 will be high-quality jobs – defined as providing a basic monthly salary of more than $1,850.

The investments cover all sectors, with the 31 companies investing in manufacturing and logistics accounting for the majority. A total of 15 companies have invested in tourism, real estate, education and healthcare, and information and communications technology.

Other developments during 2018 have included the advancement of the FinTech ecosystem with the launch of Bahrain FinTech Bay, the largest FinTech hub in the Middle East and North Africa, and the establishment of a $100m fund of funds to assist startups across the region. There has also been growing interest in the Central Bank of Bahrain’s regulatory sandbox.

In May, the Gateway Gulf Investor Forum showcased investment-ready projects worth $18bn. Projects in the planning phase have driven up the value of the project pipeline to $26bn.