Bahrain's economy expanded by 4.3% year-on-year in Q3 2010 according to the Central Informatics Organization's (CIO) Bulletin of Quarterly National Accounts, with year-on-year growth in key economic sectors including Manufacturing (8%) and Financial Services (6%).

The figures are consistent with the 4% average economic growth forecast for 2010 and the Kingdom's long-term strategy of diversification, now enshrined in Vision 2030, said Shaikh Mohammed bin Essa Al Khalifa, Chief Executive of the Bahrain Economic Development Board (EDB). The EDB is leading the process of Vision 2030 under the guidance of His Royal Highness Prince Salman Bin Hamad Al Khalifa, the Crown Prince of Bahrain and Chairman of the EDB.
Shaikh Mohammed said: ""Bahrain's steady, sustainable economic growth and stability is supported by our long term commitment to economic diversification and the continued strengthening of the private sector. Stability through sound, tried and tested, transparent regulation in turn contributes to our business friendly environment. A growing number of international companies are choosing Bahrain as the gateway to the trillion dollar
[Persian] Gulf market.""
The EDB itself has the responsibility for creating the right climate to attract foreign investment. Last week Shaikh Mohammed presented Singapore's President S R Nathan with a detailed account of Vision 2030 during talks to strengthen bilateral economic, investment and trade ties.
The CIO figures also reveal that Q3 2010 GDP in current prices grew by 14.3% compared with the same quarter last year and 3.6% compared with Q2 2010. Other economic sectors also experienced steady year-on-year growth including Transport & Communication (6%); Construction (5%) and Wholesale and Retail Trade (5%).
(Source: ameinfo.com)