Bahrain puts best foot forward for Indian investors
Thursday, 15 January 2004, 20:30 IST
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NEW DELHI: Bahrain Wednesday invited Indian businessmen to take advantage of an investor-friendly environment in that country to foray into the knowledge sector, particularly IT. "Relations between India and Bahrain go a long way in history," visiting Bahrain Prime Minister Shaikh Khalifa bin Salman Al Khalifa told a business meet organised by industry lobbies Federation of Indian Chambers of Commerce and Industry and Confederation of Indian Industry (CII) at the Ashok Hotel here. Lauding the 135,000-strong Indian community in Bahrain, the largest expatriate population there, Shaikh Khalifa told the assembly of businessmen from various sectors, including IT and infrastructure development, that the time had come for India to expand its presence in the region. Heading a delegation of half a dozen ministers and officials, the Bahrain leader arrived here Tuesday on a nine-day visit. The two countries signed five treaties Tuesday, including one on extradition and another to promote bilateral investment. Describing economic relationships between India and Bahrain as unique, M.A. Pathan, director of Tata Services, said business between the two countries was growing because of political and economic reforms introduced in Bahrain. "Opening of the kingdom's telecom services and public utilities has increased the confidence of international investors," contended Pathan, who is also chairman of CII's Gulf Council. Bahrain last year simplified its commercial laws, procedures and formalities for starting and running businesses. "The procedures for new businesses is by far the simplest and fastest in the region. A one-stop new centre of excellence will make them even simpler," said Bahrain's Commerce Minister Ali Saleh Al Saleh. With over 300 Indian-owned businesses operating in and out of Bahrain, he said the community had "already chosen Bahrain as their home in the region". Evincing keen interest in business opportunities in Bahrain, the businessmen held extensive interactions with the visiting dignitaries. They included several academics, who expressed interest in setting up educational institutions, particularly in professional fields. "India has all the advantages in the educational sector, including IT," Al Saleh said, noting that quite a few schools set up by Indians were already successfully running in his country.
Source: IANS
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