|
money making, economy, business, shipping, leisure, tourism, beaches, swimming, sydney, srilanka, goa, dubai
 |
| Business Infrastructure |
|
The thriving business and commercial sector in Bahrain comprises several different areas of the economy. The Kingdom is major centre for banking and financial services, insurance, shipping, telecommunication, warehousing, business and leisure tourism. Other services offered in Bahrain include aircraft services, dry-docking and ship repairing. The official language is Arabic but the business language is English. There are numerous Arabic and English newspapers and magazines and TV broadcasting in almost every language can be received via satellite. There is a great variety of restaurants and night life equal to any other metropolis on the globe. Easy transportation and state-of-the-art telecommunication facilities allow instant business transaction with the global community.
Banking and Finance
Bahrain is acknowledged as the financial capital of the Gulf. The financial sector accounts for about 22% of GDP and there are about 340 banks and financial institutions operating in Bahrain - the largest number of international financial institutions in any single country in the Middle East. The Bahrain Monetary Agency and the Bahrain Stock Exchange have created financial regulations to make Bahrain the most efficient and safest banking place in the Middle East. Some of the major international banks include the Arab Banking Corporation (ABC), Citibank, Hong Kong Shanghai Banking Corporation (HSBC), InvestCorp and Standard Chartered Bank. Bahrain is also the largest Islamic banking centre in the world.
Legal Framework
Bahrain provides a supportive business environment for private sector enterprise, characterised by minimal bureaucracy. Central to Bahrain's role as a commercial hub is the fact that the government allows 100 per cent foreign ownership of companies, a policy unique to the region. The absence of restrictions and trade controls on private enterprise and freedom from exchange control on the repatriation of capital, profits and dividends are also part of a policy geared to attracting foreign participation in the economy.
Business opportunities
Despite its small size and modest oil reserves, Bahrain is at the forefront of business development in the Gulf. Bahrain was the first Gulf country on the Arab side to find oil, thus gaining a head start on its neighbors. Enlightened leaders invested the country's newfound wealth wisely in improving the health, education and standard of living its people. The first international airport, an upgraded port and shipping facilities and roads were all constructed. This gave Bahrain a solid work force and the best infrastructure in the region. As oil began flowing in other parts of the Gulf, Bahrain passed the first duty free port legislation, a move that ensured it become the trans-shipment centre for the area. Now, in addition to first class sea and air links, it is joined to the Arabian mainland by road, further boosting its credentials as an ideal distribution centre.
During the 70s oil boom, Bahrain was already seizing opportunities to diversify. Today Bahrain boasts a large and successful complement of heavy industries that are spawning other downstream processing and manufacturing industries. During the 1980s and 1990s service industries have emerged as the new star performers. No taxation, a stable government, low operating costs, state of the art communications, stable currency and a free foreign exchange movement creates an ideal climate for service industries.
|
|
 |
|
|
Please send us the corrected entries, if you find any wrong data on this website. |
