Bahrain, a country in the midst of sweeping reforms, is wooing investments from Indian companies.

Talking to Business Line, Kamal bin Ahmed Mohamed, Transportation Minister and Chief Executive of the Economic Development Board (EDB), who was in Bangalore to explore business opportunities, said that the Gulf country is very keen to start-ups or large sized Indian companies across sectors like agriculture, technology, financial services and healthcare insurance.

As a part of the red carpet rollout, the Bahraini government is offering zero taxes in addition to weekly business clearances and fast broadband plug-and-play that rivals many western countries with an aim to create jobs locally and grow the economy, according to EDB officials.

Strategically located

Further, Bahrain which is an hour ride from Saudi Arabia is situated centrally to other Gulf countries has a number of international free trade agreements in place, including with the US.

Further, the authorities plan to launch an e-tendering system, which opens up opportunities for companies to provide the technology backbone.

Also, Bahraini authorities are putting their finishing touches to opening up healthcare insurance plans to private insurers, which would open up opportunities in high skilled jobs.

“Companies wanting to set up operations will be offered help in advancing careers of employees based in Bahrain, which will help them get employees productive faster,” said Khaled Ali Rashid Al Amin, Vice Chairman, Tamkeen, a company that provides workforce training.

Sensing this opportunity, Indian businesses have established operations in Bahrain as a means of accessing the wider Gulf market, which is set to reach $2 trillion by 2020. Already Indian companies like Wipro, Tech Mahindra, ICICI Bank and others have a presence in Bahrain.

Asked about the regional stability, especially after the ‘Arab Spring’ and uprisings in Bahrain, Mohamed said that the government is committed to reforms and we have our eyes set on growing the existing trade which was estimated at $1.7 billion in 2011.

Of the 50 per cent of international workforce in Baharain, there are 3,50,000 Indians.

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