Announcements and deals totalling more than $12bn were revealed at the second edition of the Gateway Gulf investor forum held in Bahrain on 3-4 November.

Organised by the Bahrain Economic Development Board (Bahrain EDB), the forum was attended by 250 ministers and business leaders from around the world and highlighted trade and investment opportunities in Bahrain and the wider Gulf.

In finance, Al-Salam Bank announced the launch of ASB Capital, a newly established Category 3A asset management firm licensed by the Dubai Financial Services Authority.

Investcorp announced key investment-related initiatives, and Sico Bank introduced diversified investment products. JP Morgan Payments announced plans to hire technologists in Bahrain. Additionally, Singapore Gulf Bank announced the launch of corporate banking services for the global digital economy.

Future industries

For the technology sector, Array Innovation signed three new partnerships with the National Bank of Bahrain, Aluminium Bahrain (Alba) and the Labour Fund (Tamkeen) to promote advanced enterprise software, analytics, artificial intelligence and machine learning solutions.

Beyon unveiled its digital city and signed a development agreement with Edamah, the real estate arm of Bahrain’s sovereign wealth fund Mumtalakat Holding Company.

In manufacturing, Alba and Daiki Aluminium reaffirmed their commitment to establishing a sustainable aluminium dross processing facility in Bahrain.

Racing Force Group and Bahrain International Circuit announced the completion of the Bell Racing Helmets factory extension and groundbreaking for its new open manufacturing production facility.

Meanwhile, Bapco Energies also announced reaching the milestone of expanding its refining capacity in compliance with the latest sustainability regulations under the Bapco Modernisation Programme.

Edamah announced key projects, including the opening of its latest resort, Hawar by Mantis.

Infracorp, which specialises in infrastructure investment and sustainable development, revealed an agreement with Kempinski to launch the Harbour Heights Kempinski Hotel and exclusive branded residences in Manama’s Bahrain Harbour.

Government announcements included details from Bahrain’s Ministry of Industry & Commerce about a National Industrial Development Fund and SME Development Fund. The Ministry of Housing & Urban Planning outlined plans to develop 3,000 residential units and apartments in Khalifa City.

Mumtalakat also signed several partnership agreements across key verticals of its portfolio.