BAHRAIN International Investment Park (BIIP), voted as a top destination for foreign direct investment (FDI), is poised to be the fastest generator of jobs, the park’s chief has said.

Bader Al Said estimated the park would create 6,000 jobs within the next two years as part of expansion plans.

BIIP has been in the international spotlight with the Financial Times’ publication FDI Intelligence naming it the 15th most popular destination for FDI in the world, number one in Bahrain and seventh in the region.

The park has attracted nearly $1.5 billion worth of FDI and local investment since being established in 2005.  As many as 83 projects have been approved by the 2.5 million sq m park, including 15 this year, with companies from Germany, Singapore, France, Saudi Arabia and Bahrain coming on board.

“More than 40 per cent of our projects are foreign direct investment,” Al Saad said. “Our target here is to support manufacturing projects. We’re also supporting small and medium sized enterprises. Two years ago, we were at 23rd position globally and 10th in the Middle East.

BIIP is the regional headquarters of oil and gas company Matrikon from Canada. Gulf Electronics Management Systems has its back office services within the park premises.

Of the approved projects, 36 are operational and 19 are under construction. Al Saad expects more than 40 companies will be operational by year’s end.

The park chief explained that three main criteria determined approval of projects. They must create jobs for Bahrainis, be export-oriented and environment-friendly.

Some 78 per cent of BIIP land has been allocated to projects and park authorities are engaged in marketing the remainder by 2014.