Business | General
Bahrain's GBCorp plans investment in Thailand
Global Banking Corporation, the Bahrain-based investment bank, on Tuesday announced that it has signed a memorandum of understanding with Asia Development Co (Adco) Thailand, marking GBCorp's premier investment initiative in Thailand.
- Staff Report
- Published: 23:26 October 7, 2008
Manama: Global Banking Corporation, the Bahrain-based investment bank, on Tuesday announced that it has signed a memorandum of understanding with Asia Development Co (Adco) Thailand, marking GBCorp's premier investment initiative in Thailand.
Ahmad Al Khan, head of investment banking at GBCorp, said: "The memorandum of understanding provides the framework under which GBCorp and Adco are able to work together to leverage on investment opportunities in Thailand."
Al Khan said Thailand stands on the threshold of emerging nations offering investors strategic investment opportunities in key sectors such as financial markets, energy, medical tourism, infrastructure and real estate development.
"GBCorp's investment initiative in Thailand is an integral part of its business strategy of building investment bridges linking the region to global markets. The alliance with Adco is the first step in developing such an investment bridge linking the Kingdom of Bahrain and the Kingdom of Thailand and leveraging on these opportunities by capitalising on the strong business and political relationships that exist between both kingdoms," he said.
Thavatvong Thanasumitra, director at Adco, said: "The signing of the MoU with GBCorp is the first step in defining the way forward by identifying the right investment opportunities and enabling GBCorp leverage on these opportunities. Adco is paving the way for GBCorp to build its investment portfolio in Thailand and take advantage of the synergy between both countries to bridge the investment opportunities that exist in the Far East and the Middle East regions."
More from Business General
More from Business
Business Editor's choice
-
Do unemployment figures flatter to deceive?
Jobseekers and recruiters give out mixed signals ranging from optimism to downright despair even as official data show recovery
-
Banks can increase their share
Longer opening hours, more locations outside cities and lower charges can help
-
Geepas idea blossomed in Dubai
The journey led from a small shop in Bahrain to a $1.27b company in the UAE
