Foreign direct investment (FDI) in Bahrain stood at almost $1 billion at the end of 2014, according to a report from the United Nations.

The kingdom attracted $957 million in FDI last year, a similar level to 2013 when the figure was $989 million.

Its FDI stocks stood at $18.8 billion last year, representing 55.5 percent of GDP compared with 54.3 percent in 2013, and the highest level in the GCC.

The figures were revealed in the UN Conference on Trade and Development (UNCTAD) World Investment Report 2015. 

The report showed that FDI inflows as a percentage of gross fixed capital formation amounted to 22.4 percent in 2014, compared with 19.3 percent in 2013.

Bahrain’s news agency said Khalid Al Rumaihi, chief executive of Bahrain’s Economic Development Board (EDB), told a launch event the results showed “the ability of the national economy to bolster its solid share of foreign direct investments”. 

Al Rumaihi was quoted in Gulf Daily News as saying: “There is no doubt that the region, and wider world, still faces a challenging economic climate, as businesses and governments continue to recover from the economic shock of 2008 as well as the current oil price environment, as illustrated by the investment flows outlined in this year’s World Investment Report.

“However there are a number of structural drivers which give cause for a more optimistic long term outlook in the region, including connectivity, increasing economic integration, and the demographic dynamics.”

Meanwhile, global FDI fell by 16 percent to $1.23 trillion last year, due to political uncertainty and a still fragile global economy, the UN report showed.