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FINANCIAL NEWS
GCC investors seek to strengthen trade links with Asia
23 Sep 2015
(MENAFN) Asia is the leading destination of foreign direct investment (FDI) across the globe, accounting for more than 35 percent of the world’s total FDI inflows.
Moreover, China recently established the Asian Infrastructure Investment Bank (AIIB) All GCC countries, with the exception of Bahrain are founding members of the bank.
Gulf investors strengthened their economic ties with the East in recent years, expanding in both oil and nonoil sectors. The Saudi private investment firm “Ajlan and Brothers” invested in a total of 20 factories worth USD632 million in the textile sector in China.
Meanwhile, the Dubai-based “Abraaj Group” stated that it planned to invest almost USD400 million in Southeast Asia and Indian companies in 2015.
Trade links have always been very strong between the two regions, spurred by the surge in Asian oil demand, but the relationship now has improved further.
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Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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