Bahrain-Lebanon forum generates $6m business
by Gulf Daily News
The First Bahraini-Lebanese Franchise Forum designed to develop and promote joint investments resulted in more than $6 million worth of business. Eighty Bahraini entrepreneurs and small-to-medium sized enterprises took part in the forum at the Bahrain Chamber of Commerce and Industry.
The United Nations Industrial Development Organisation (Unido) organised 55 one-to-one business meetings which resulted in the signing of 36 letters of intent (LoI) with an estimated investment value of $6.5m.
The MENA-OECD Investment Centre together with Unido and the Lebanese Franchise Association will provide the needed support and assistance in order for these LoIs to be materialised.
This will lead to the creation of joint investments that will boost economic ties between Bahrain and Lebanon, and in the longer run serve as a model for Arab integration.
The forum was well received by the Bahraini participants, the Lebanese Franchisors and the organising institutions.
During the Lebanese delegation's visit to Bahrain the MENA-OECD Investment Centre and Unido organised a number of meetings including one with Industry and Commerce Minister Dr Hassan Fakhro, during which he pledged his full support to develop joint investments between both countries.
The delegation also met officials from major Bahraini malls and various economic representatives.