Investing in Bahrain 2015

Page 1

Succeed across the Gulf, from the island that puts business first



You are more welcome in business-friendly Bahrain There is nowhere better than Bahrain from which to build your business in markets in the US $1.6 trillion GCC (Gulf Cooperation Council) and the MENA (Middle East and North Africa) region. Our economy, infrastructure, culture and lifestyle work together so that international organisations like yours can fully exploit the potential of this major economic block. Make Bahrain your regional base and you will be able to: Pursue commercial opportunities from the region’s most strategicallylocated, bestconnected country and its proven centre for investment.

Gain competitive advantage with the help of a skilled, educated local workforce, well-developed infrastructure and the Gulf’s lowest operating costs.

Operate freely in an economy with a balanced regulatory structure, minimal bureaucracy and a relaxed, liberal way of life.

Read on to explore how these three key factors make Bahrain the Gulf location of choice.


PURSUE COMMERCIAL OPPORTUNITIES From Bahrain, you are poised to do business with one of the world’s fastest growing regions: GCC economies are expected to increase their combined GDP to US $2.1 trillion by 2020, while the wider MENA area, currently worth US $3 trillion, is anticipated to grow by more than 3% in 2015.

Bahrain and opportunity Bahrain makes bigger deals, revenue, growth and profits possible. We know that when businesses take strategic investment or relocation decisions, they look for commercial opportunities. All other considerations are a means to this end. This is why Bahrain provides a business-friendly, superconnected base, long established as the region’s commercial centre for deal-flow and finance.

Access every market – easily You can reach the whole Middle East, particularly the northern Gulf, from Bahrain. Our central location means the shortest distance to export markets, saving time and money. Bahrain’s transport connections are so versatile, it is possible to get to most regional cities within 40 minutes by air and no more than 4-8 hours on-land. Saudi Arabia, the Gulf’s biggest economy, is our close neighbour: its industrial heartland, the Eastern Province, is just a 30-minute drive across the King Fahd Causeway.

Connect better, trade faster Bahrain’s transport infrastructure is planned and integrated to give the most efficient throughput. You’ll expedite goods more swiftly. Staff and customers will spend less time travelling. We have been able to locate airport, seaport and processing zones close together, giving the shortest transit anywhere in the region. Moreover, we have invested significantly in multi-modal logistics and technology so that you benefit from maximum flexibility. But our investment doesn’t stop there. Bahrain’s airport, seaport and road connections are being constantly developed, upgraded and expanded to ensure your capacity needs continue to be met. The story is similar for ICT. Your business is assured of high-speed, dependable connections with partners, suppliers and customers thanks to an excellent infrastructure that’s continuously evolving and includes both fibre-optic links across the Gulf and the world’s first nationwide 4G LTE mobile network.


Bahrain International Airport

10m

in

30m

in

30min to Saudi Arabia

Bahrain Logistics Zone

25min

King Fahd Causeway

Bahrain

Bahrain International Investment Park

Khalifa Bin Salman Port

Bahrain Saudi Arabia

Bahrain International Airport

UAE

Khalifa Bin Salman Port

DHL headquarters for the Middle East

Operated by the largest port operator in the world – APM Terminals

Hub of Gulf Air – international flights

15 metre depth

Major expansion of cargo and passenger terminal planned

Average clearance time of 7 hours per container Total capacity of 1,100,000 TEU



SUS $33.9 $33.9

BILLION LLION 2014 NOMINAL GDP

NOMINAL GDP

2015 GDP ROWTH FORECAST

5H FORECAST GDP

Join companies who have long flourished here Leading international organisations understand the opportunities that Bahrain opens up for them. EY (Ernst & Young), for instance, has been here since 1928, while others such as Standard Chartered, DHL and BNP Paribas have based their regional headquarters in Bahrain for more than 30 years. Bahrain’s proven track record as the Gulf’s financial services centre goes back to the 1970s. Today, we have more regulated financial institutions than anywhere else in the GCC. This is the result of ongoing reforms backed by high regulatory and supervisory standards. Respected and emulated across the region, these standards have created a stable, transparent climate in which businesses can operate with confidence. Moreover, the maturity of Bahrain’s financial services sector stems from our long-term diversification from reliance on hydrocarbons, which has made the

US $33.9

Kingdom one of the Gulf’s most broadly-based and balanced economies.

US $33.9 BILLION 2014 NOMINAL GDP US $33.9 BILLION 2014 NOMINAL GDP

BILLION 2014 NOMINAL GDP

Bahrain’s inward FDI

stocks as ainward percentage Bahrain’s FDI of GDPas (55.4%) are the stocks a percentage in the GCC ofhighest GDP (55.4%) are the GROWTH FORECAST and well above the highest in the GCC global average. FORECAST and well above the Source: UNCTAD World Investment Report 2015 GROWTH FORECAST global average.

2015 GDP GROWTH

2015 GDP

Source: UNCTAD World Investment Report 2015

2015 GDP

B

Bahrain’s ins stocks as a o h of GDP (55.4a highest in tg and well ab global avera

S

Source: UNCTAD World I

What investors say “Bahrain is a perfect hub. Nothing is too far.” Jaap Vaandrager, Business owner & entrepreneur


GAIN COMPETITIVE ADVANTAGE In Bahrain you will encounter a scenario that is difficult to find elsewhere: • The calibre of people you need locally to attain optimum performance • A high standard of living for expatriate employees • Low costs and taxes that ease business operation, strengthen the bottom line and create more disposable personal income

Bahrain and competitiveness Bahrain’s advantage is the result of lower costs and taxes, better staff, and excellent infrastructure and logistics. With the Gulf’s lowest commercial and living costs, together with a highly skilled, multi-lingual workforce and superb infrastructure and logistics, Bahrain offers the pro-business conditions that ensure companies operate at their most competitive. This is no accident, but the consequence of our desire to create an environment that delivers real value through high quality and low costs.


Drive your business with exceptional human capital Employ unequalled, motivated talent at all levels: Bahrain offers the Gulf’s most highly skilled bilingual labour force, with local expertise available across all sectors. The Kingdom is unique in the region in employing a clear majority of its nationals in the private sector. This is unsurprising: dating back to 1919, Bahrain has the longest-established education system, with as many as 78% of school leavers earning a bachelor’s degree at our universities and polytechnics. Bahrainis also train at specialist institutions on programmes designed to meet the specific needs of business. One such, the Bahrain Institute of Banking and Finance, is pre-eminent in teaching skills for the financial services sector. Training continues throughout employment. Government agencies such as Tamkeen train individuals, support SMEs with staff development and foster Bahrain’s passion for entrepreneurship and creativity. Bespoke human capital solutions are available for companies.



Draw from the widest talent pool Due to our liberal culture, Bahrain has been at the forefront of gender equality in the region. That means you have access to the biggest possible resource – men and women. Women comprise 35% of both the overall labour force and financial services employees. In the WEF Global Gender Gap Report 2014, Bahrain ranks first in the world for female enrolment in secondary and tertiary education.

Maximise your profits Take advantage of Bahrain’s infrastructure investment for less than you imagine. Business costs of all kinds – set-up, operating, rental and employment costs – are very competitive compared to the rest of the GCC. Bahrain’s long-term prudence and economic vision have created sustained, controlled growth with low inflation and price stability. And, thanks to our superb logistics infrastructure, shipping and port costs are lower than in other GCC states, giving you an immediate edge.

Discover a less taxing regime FTAs (Free Trade Agreements) enable you to transact without duty across the GCC. But Bahrain also has 120 bilateral agreements with around 40 major markets worldwide including the USA, the UK, Scandinavia, France, China, India and Singapore. Trade and technology transfer are therefore not just more costeffective; through the US-Bahrain FTA, our Intellectual Property (IP) laws meet US standards, making Bahrain the only regional economy to offer full foreign ownership with competitive IP protection. In addition, within Bahrain your business, and your employees, will benefit from a favourable tax system with no corporation or personal income taxes, no capital gains or inheritance taxes and few indirect taxes.


Enjoy a better life You will maintain a superior standard of living in Bahrain at a cost that is competitive within the GCC. Accommodation is keenly priced, helping employees’ money go further: there is housing for every taste and budget. And the choice is growing: landmark developments are springing up across Bahrain, providing a wealth of stylish waterfront living. Education, especially private education, and healthcare are excellent, with some of the region’s best-known private schools, making Bahrain highly suitable for expatriate employees and families. There is a huge range of things to do and places to visit – all part of Bahrain’s wonderful heritage that sits comfortably alongside modern leisure, shopping and sports developments. And the quality of Bahrain’s expatriate offering is well recognised. In the HSBC Expat Explorer Survey 2014, Bahrain ranked first worldwide out of 34 countries for work-life balance and commuting to work, and second in overall ‘experience’ or quality of life. Overall, Bahrain came no less than fifth in the world and first in the region.


Smarter people, better value

What investors say “We have six different nationalities working with us, and it’s a very good mix of Bahrainis and expats. I think locals comprise more than two-thirds of people in the industry. For anyone who’s setting up in Bahrain, the availability of local workforce is very important.” Nitesh Agarwal, Executive Director, Julius Baer


OPERATE FREELY Bahrain reconciles the seemingly irreconcilable – a high degree of quality regulation in a unified jurisdiction, combined with an unusually liberal attitude to business and culture. You can run your company as you want and maintain full ownership and control of the business and its ideas, with the reassurance of effective safeguards. At the same time, you can immerse yourself in a vibrant, cosmopolitan lifestyle.

Bahrain and freedom Bahrain consistently rates as one of the freest economies in the world. This doesn’t just mean the absence of red tape, but how people feel when they come to live here. We move with the times, invariably to enable business to operate more freely. Alongside a regulatory environment that reduces risk and breeds stability, as well as minimal bureaucracy, Bahrain has a relaxed way of life that ranks ahead of countries like Canada, Australia and Hong Kong*. *HSBC Expat Explorer Survey 2014


Benefit from rigorous regulation Bahrain provides governance standards that international businesses like yours expect: world class, trusted, proven. This means exceptional stability and low risk. Financial regulation is unified under the Central Bank of Bahrain (CBB), which oversees the conduct of banks in the Kingdom, stock and other exchanges, and capital markets. The CBB is recognised globally for its professionalism and accessibility. Bahrain is also home to important bodies in Islamic finance, and has set the benchmark for regulation, reflecting its global leadership in this fast-developing sector. The Kingdom has a tried-and-tested legal framework in which commercial laws are continuously reviewed to ensure international compliance. The legal system is fully independent – it’s a mixed system based on Civil Law, with some influence from Shariah Law. Sectors such as telecommunications are highly regulated in order to protect the interests of subscribers and users, and to promote fair competition. On the other hand, Bahrain has the region’s most liberalised ICT (Information & Communication Technology) market. Transparency features significantly. The CBB must consult publicly and widely before issuing new regulations, and there are established institutions and processes for dispute resolution and anti-corruption. Conversely, Bahrain has a zero-tolerance policy towards money laundering, for example, and companies operating here are expected to follow international standards and pursue sound corporate governance. As a result, Bahrain offers 100% foreign ownership, with the freedom to repatriate capital, profits and dividends. This applies across the economy; there are no free zones, because we can provide the same or better standards throughout.

Be part of an open business community Working in Bahrain means that you can assert your influence – in such a compact environment your organisation will always be high profile. More to the point, you’ll see how Bahrain gets things done. Government, business and regulators collaborate closely to foster the optimum commercial environment characterised by minimal interference. Bahrain is fully committed to democratic principles and the rule of law enshrined in a constitution that, among other things, guarantees freedom of religion.


Avoid red tape Low government intervention reduces bureaucracy – to the benefit of your business. We prefer to make things simple. Nowhere is this more obvious than the ease with which foreign businesses can set up here. Organisations including the Bahrain Economic Development Board (EDB) help streamline the process, making it faster and less costly than the MENA average to get up and running.

Bahrain

MENA

Procedures

7.0

8.0

Days

9.0

18.9

Cost (% of income per capita)

0.8

28.1


Live in a truly free society There is no more liberal or diverse country in the Gulf. This is because, over several thousands of years as a trading post, Bahrain has absorbed people, ideas and influences from across the world. Ours is a society built on openness and tolerance, genuinely without prejudice. Simply, Bahrain is multi-cultural, multi-ethnic and multi-denominational. For example, no matter where they are from, everyone can dress as they please – without restriction. Today, you will find expatriates from many nations – Bahrain is a real ‘melting pot’. Visitors feel instantly at home and discover that Bahrainis are big-hearted, warm and welcoming. Little wonder: as a crossover point for travellers and traders, we are always embracing new faces. A pleasant consequence is that with the wide range of cuisine on offer in Bahrain it is always possible to find somewhere serving familiar food.

Experience culture beyond expectations Bahrain is a fascinating mix of ancient and modern, where millennia-old sites contrast with the sharp, clean lines of 21st-century construction. Many of these historic buildings are connected with Bahrain’s rich heritage as a trading centre between East and West, and with its pearl diving industry. Bahrainis prefer simple, easy living, but you will be surprised at their enthusiasm for the noise and bravado of Formula 1TM, when the Gulf Air Bahrain Formula 1TM Grand Prix storms into the Bahrain International Circuit each April.

18th out of 178 countries and first in MENA in the 2015 Heritage Foundation and Wall Street Journal’s Index of Economic Freedom

53rd in the World Bank’s Ease of Doing Business Index 2015


SUCCEED IN YOUR SECTOR Bahrain’s clear sector focus comes from our natural strengths – strategic location, concentrated land area and expertise and professionalism, among others. International businesses working in these sectors appreciate that Bahrain provides the opportunity, competitiveness and freedom to operate they need to prosper. Invest in Bahrain and you will be in excellent company.

Financial services Accounting for no less than 17% of Bahrain’s GDP and growing rapidly over the last decade, financial services are central to the economy. With the region’s highest concentration of regulated financial services firms – in excess of 400* – Bahrain is the Middle East’s biggest financial services centre. We provide access to unrivalled local expertise: Bahrainis make up almost two-thirds of financial services employees. Such quality is due to the high standard of education delivered by specialist institutions like the Bahrain Institute of Banking and Finance. Many financial institutions have made their regional headquarters here and are supported by a large community of professional services firms. We offer investors opportunities in all major aspects of finance, backed by exceptional reassurance and a reputation for openness and robust supervision. *The Dubai International Financial Centre (DIFC) has 215 and the Qatar Financial Centre Authority (QFC) 75.

Banking With over 40 years’ experience, Bahrain is the GCC’s longest-established financial centre. Through the Central Bank of Bahrain, we have also set the standard in establishing a transparent regulatory environment.

Who’s here International banks include: Bank of China, BNP Paribas, Credit Suisse, Citi, HSBC, ICICI, JPMorgan Chase, Maybank, Standard Chartered, State Bank of India, Bank of TokyoMitsubishi, Daiwa Securities Bahrain, Nomura Investment Banking, Korea Exchange Bank, Woori Bank. Middle Eastern banks include: Ahli United Bank, Arab Bank, Arab Banking Corporation, BBK, National Bank of Kuwait, Gulf International Bank, The Saudi National Commercial Bank, Kuwait Finance House, Mashreq Bank, National Bank of Abu Dhabi.


Asset & wealth management Bahrain provides full services and support for asset and wealth managers and administrators through an infrastructure that has developed since the early 1980s. The Kingdom is the region’s most established funds distribution centre and operates the largest range of managed and alternative investment funds – 2,885 registered at June 2015. Of these, 83 are Bahraini-domiciled schemes and 36 are Islamic funds.

Who’s here International and regional asset managers include: BNP Paribas Asset Management, BSI, Credit Suisse, Lazard Asset Management, The Family Office, Investcorp, PineBridge Investments, NCB Capital, Takaud Savings and Pensions. Asset administrators: Apex Fund Services, Keypoint Consulting, Karvy Computershare.

Insurance Insurance comprises around 30% of Bahrain’s finance sector. The industry is thriving in both penetration (share of GDP) and density (average per capita expenditure). Bahrain is now a hub for Middle East insurance and reinsurance, and home to around 35 insurance firms of all kinds – general, life, reinsurance, captive, conventional, Islamic.

Who’s here Insurance and reinsurance companies: ACE, AF Willis, AIG, AON, Arab Insurance Group, AXA, Hardy ARIG, Legal & General, Royal & Sun Alliance, Zurich, CIGNA SAICO Benefits Services, HDI-Gerling, Trust Re, Hannover Re. Brokers: Marsh, Nexus.


Islamic finance A global leader in Islamic finance, Bahrain set the benchmark early for Islamic banking regulation. Today, we host the greatest concentration of insurance organisations and financial institutions. There are 24 Islamic banks, plus conventional insurance companies with Takaful (Islamic insurance) arms. Through the Central Bank of Bahrain (CBB), we have pioneered many popular financial instruments – for example, the first sukuk bond, in 2001, and a regulatory framework specifically for Takaful and Retakaful companies, in 2005. More than 30 countries use our guidance to set up their own Islamic finance structures. The CBB is setting up a national Shariah board to create a new quality standard for the sector with easy access at competitive cost. Within this context, it has already introduced a new Islamic Sukuk Liquidity Instrument (ISLI) to manage liquidity at the Kingdom’s Shariah-compliant banks. Islamic banks can now place excess liquidity in weekly wakala deposits every Tuesday. The CBB then invests these funds in a high-quality sukuk portfolio on behalf of the banks. Previously, Islamic banks faced limited options, such as monthly issues of 3- and 6-month sukuk, as well as higher costs in managing their excess liquidity. ISLI not only provides more efficient management of short-term liquidity, but enhances Islamic banks’ readiness for Basel III high-quality liquidity requirements.


Who’s here Global Islamic bodies include: Accounting and Auditing Organisation for Islamic Financial Institutions, General Council for Islamic Banks and Financial Institutions, Deloitte’s Islamic Finance Knowledge Centre, International Islamic Financial Market, Islamic International Rating Agency, Ernst & Young’s Islamic Banking Centre. Islamic banks include: ABC Islamic Bank, Albaraka Banking Group, Citi Islamic Investment Bank, Kuwait Finance House, Islamic Bank of Asia, Türkiye Finans. Takaful and Retakaful companies include: ACR Retakaful, Hannover Retakaful, Medgulf Takaful, Chartis Takaful Enaya, Legal & General Gulf Takaful.


Logistics Bahrain delivers fast, easy market access through our affinity for logistics, central Gulf location and excellent transport links. Within the Kingdom, we offer rapid, streamlined and cost-effective processing of trade goods. Customs administration is highly effective and our logistics infrastructure is tightly integrated. As proof, Bahrain ranks second in the GCC according to the 2014 World Bank Logistics Performance Index for customs clearance efficiency, and 30th globally. All of Bahrain’s major facilities – such as the Bahrain Logistics Zone (BLZ), Bahrain International Airport (BIA) and Bahrain International Investment Park (BIIP) – are sited close together. Nearby Khalifa Bin Salman Port, operated by APM Terminals, is core to the infrastructure. With a throughput capacity of 1.1 million TEUs (20-foot equivalent units) and ready access to the northern Gulf, it gives many international shipping lines, freight forwarders and cargo owners a world-class service. The port is strategically sited to allow for future expansion. In addition, the Bahrain Logistics Zone is Bahrain’s only dedicated customs-free value-added logistics park. It is also the Middle East’s first multi-modal logistics hub to focus on re-export and value-added services.


Logistics opportunities Bahrain’s regional position, skilled workforce and major seaport and airport cargo upgrades ensure a wide range of logistics opportunities. In addition, major regional companies are increasingly outsourcing logistics services to larger players. The Kingdom has identified a number of logistics sub-sectors with high potential, including: • Specialist handling: increasingly complex supply chains mean demand for sensitive goods such as temperaturecontrolled cargo and pharmaceuticals • Inventory supply: there is a need for specialist warehousing to provide temporary storage and management of inventory

Who’s here Agility, APM Terminals, Aramex, DHL, Expeditors, FedEx, GAC, Kuehne+Nagel, Panalpina, TNT, UPS, Kintetsu World Express, Schmidt ME Logistics.


Information & Communication Technology (ICT) Bahrain offers great potential for ICT investors, both as a local testing-ground and an international development base. It is therefore ideal if you are looking to customise products across the MENA region. The reasons are five-fold: • Bahrain has fostered a distinctive creative entrepreneurship culture in ICT • Forward-thinking means that you have access to the Middle East’s most liberal ICT and telecommunications markets •M obile and Internet penetration rates are among the highest in the region, and strong globally • For the sixth consecutive year, Bahrain is in the World Economic Forum (WEF) Global Information Technology Report’s top 30 economies. We also rank 30th out of 143 economies worldwide overall in its Network Readiness Index • Ambitious eGovernment and eCommerce strategies are driving the need for capable, robust IT solutions


Who’s here Cisco, Hewlett-Packard, Huawei, Microsoft, Software AG, Tata Consultancy Services, Tech Mahindra, Zain, NPL.


Manufacturing & industrial services Why choose Bahrain as a manufacturing hub? Our extensive pool of human capital enables you to take skilled, knowledge-intensive manufacturing to the region’s largest economies. At the same time, we ensure optimum returns through low plant set-up and operating costs. Bahrain caters for a range of sub-sectors, but aluminium production is a particular strength. This industry is the GCC’s longest established, and aluminium is our major export after oil. When completed in 2019, Aluminium Bahrain’s US $3.5 billion Line 6 expansion will make it the world’s largest single-site smelter. Other industries developing fast include: • Chemicals & plastics • Consumer goods • Food processing • Steel production • Industrial services: oil and gas, construction and electricity Facilities are highly advanced: Salman Industrial City, which opened in 2010, incorporates key industrial services such as the Bahrain International Investment Park, Bahrain Investment Wharf and Bahrain Logistics Zone.

Who’s here Aluminium production: Aluminium Bahrain (Alba), Gulf Aluminium Rolling Mill (Garmco), Midal Cables Ltd, Bahrain Aluminium Extrusion Co (Balexco), BAMCO, Bahrain Atomizer International (BAI). Steel production: Foulath Holding Company, Bahrain Steel, United Steel Company (SULB), Unirol. Chemicals and plastics: GPIC, Abahsain Fiberglass JBF, BASF, BFG International, Lauscha Fiber International, Hempel Paints, Berger Paints, Jotun, CPIC, Abahsain, Alcoa Industries, CPIC-Abahsain Fibreglass, Chemco Group. Food and beverages: Mondelez (formerly Kraft Foods), Coca-Cola, Pepsi. Consumer products: Olayan-Kimberley-Clark, Reckitt Benckiser. Other companies: MTQ Corporation, RMA Middle East S.P.C., Saudi Arabian Amiantit, Bell Helmets.


Manufacturing continues to provide a significant proportion of Bahrain’s GDP, with a focus on light and downstream production. There are regional opportunities to add value to basic industrial products and commodities by accessing competitively priced input materials. More specifically, Bahrain has identified openings in: • Downstream aluminium: higher local investment and lower additive energy use make manufacturing of products from processed aluminium very attractive • Industrial services: there is strong potential to service the needs of large industrial companies in Saudi Arabia and elsewhere with maintenance, technical cleaning and production support • Precision engineering: increasing industrial demand and a highly skilled Bahraini workforce provide a strong platform for the design of machinery, fixtures and structures with very low tolerances •O il and gas: companies in Bahrain and across the GCC require support services for industry-specific activities • FMCG: low set-up costs and rapidly growing demand are a powerful combination for manufacturers of personal or household care products


Tourism Bahrain offers significant investment opportunities in tourism – due largely to popularity among regional visitors who increasingly want to experience our open, hospitable lifestyle. Excellent infrastructure and connectivity have enabled Bahrain’s tourism industry to become the highest GDP contributor in the Gulf region. A combination of regional population growth and higher disposable income is driving a culture of consumer spending in Bahrain’s many hospitality venues, restaurants and shopping outlets. Average travel costs are lower compared to neighbouring destinations such as Dubai, Abu Dhabi and Doha, especially for the 83% of tourists who travel to Bahrain via the King Fahd Causeway. This makes visiting the Kingdom exceptional value. The sector has capitalised on the Kingdom’s strategic central location and its proximity to Saudi Arabia’s Eastern Province. Four- and five-star hotels continue to open, together with serviced apartments that are meeting the demand for family-oriented tourism from Saudi Arabia. Peak occupancy rates during regional and religious holidays and weekends reach 80-100%. Mixed-use projects are developing around the island and include the Northern City, Diyar Al Muharraq and Hawar Island. These are attracting world-class players such as The Avenues, The Address and Vida Hotels, The One & Only Royal Mirage and the Fairmont Hotel; all are expected to start operating here in the next few years.


Stimulating attractions High-profile features cover anchor events such as the Gulf Air Bahrain Formula 1TM Grand Prix, the Bahrain Boat Show, Bahrain International Air Show and Challenge Bahrain triathlon championships. The Kingdom’s culture builds on its long history and includes the Bahrain, Arad and Riffa Forts, National Museum, National Theatre, Pearl Trail and old Manama Souk. The Spring of Culture, with its own annual season of cultural and artistic events, has helped secure Bahrain’s place both as 2012 Cultural Capital of the Arab World and 2013 Tourism Capital of the Arab World. In addition, the Bahrain International Exhibition & Convention Centre attracts local and international events at its 16,000 m2 home in the heart of Manama. Major events include the Autumn Fair and Jewellery Arabia, as well as specialist fairs and exhibitions that bring visitors from across the region.

Tourism opportunities During 2014, there were more than ten million tourist arrivals into Bahrain. Arrivals have increased annually by 16% over the last three years, and are expected to grow by up to 7.4% CAGR to 2025. However, many tourists only visit for the day. There is a major opportunity to convert more of these day stays into overnight stays. Currently there is a low supply of mid-range (three-star) accommodation for leisure and business travellers, and tourist attractions such as outdoor activities, nature, parks and retail experiences. Greater diversity in both areas would encourage visitors to remain in Bahrain for longer.

Who’s here Hospitality: Ritz Carlton, Gulf Hotel, Four Seasons, ART Rotana, ibis, Westin, Le Méridien, Fraser Suites, Swiss Belhotel, Mövenpick, Sofitel, Sheraton, Golden Tulip, Crowne Plaza, Radisson, Intercontinental Hotels, Arjaan Rotana, Marriott, Ramada, Ramee Hotels. Retail groups: Chalhoub Group, Alshaya Group, Azadea, Majid Al Futtaim (operators of Bahrain City Centre).


CONTACT THE ECONOMIC DEVELOPMENT BOARD The Bahrain Economic Development Board (EDB) is a dynamic public agency responsible for attracting inward investment into Bahrain. The EDB works with government and both current and prospective investors to enhance Bahrain’s investment climate, communicate its key strengths and identify opportunities for further economic growth. We focus on several economic sectors that capitalise on Bahrain’s competitive advantages and provide significant investment opportunities. These include financial services, professional services, manufacturing, ICT, logistics and transport. Bahrain’s financial services sector is particularly strong and the EDB supports continued growth in the banking industry and key sub-sectors, including Islamic finance, wealth management, asset management, insurance and re-insurance.

WHAT DOES THIS MEAN FOR YOU? As part of a no-cost practical facilitation service for first-time investors, our sector specialists can help analyse factors such as costs, infrastructure, workforce requirements, regulatory, legal and tax issues, market opportunity and ease of registration. In addition, we can act as your first point of contact in the Kingdom, and discuss incentive packages to make set-up even more attractive. Naturally, we do our best to understand your objectives and respond to them efficiently with all the information you need to get up and running.



Contact us For all investment enquiries, please email us at invest@bahrainedb.com or visit www.bahrainedb.com You can also call us at +973 175 89 969 for general enquiries. Our business hours are Sunday-Thursday, 8am-4pm (GMT+3). For more information on the Kingdom of Bahrain, visit www.bahrain.com


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.