Bahrain to set up a $265 million tourism company
The Bahraini government approved the setting up of a $265-million tourism company to develop the state's tourism industry, and ordered economic and financial studies into the scheme. It said the firm is expected to become a focal point for developing the island’s tourism potential.
Saudi Arabia’s Dallah Real Estate and Tourism Development Company last year signed a deal with the Bahraini government to set up a tourism company. Bahrain and the Saudi firm, part of the Dallah Al-Barakah group, will equally own the new firm, which will build a tourist project on the southern coast of Bahrain.
Bahrain is the Gulf's main financial and banking center and is trying to diversify its economy and to create more jobs for its citizens. — (Lebanon Invest)
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