Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Legal matters: Reforms focus on improving the judicial branch, addressing corruption and bolstering regional governments

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Since October 2016 Jordan’s King Abdullah II bin Al Hussein has spearheaded a series of reforms aimed at building a more effective and efficient judicial system. Reforms are expected to promote civil rights, boost the efficiency of the courts and strengthen the rule of law, which King Abdullah II described as an “essential requirement for a successful democratic transformation.” Additionally, in a bid to expand managerial capacity to all levels of the administration, the Decentralisation Law will see a substantial shift in planning and decision-making

Philippe Eponon-President-Ivorian Group of Construction and Public WorksPhilippe Eponon-President-Ivorian Group of Construction and Public Works

Legal matters: A number of legislative reforms aimed at boosting key sectors

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Approved foreign investment in Myanmar has dropped off since the early years of economic liberalisation. The government now seeks to attract new inflows in an effort to boost exports and employment, reduce the trade deficit and diversify the production base. Companies Law A number of major legal reforms have been rolled out to increase international trade and investment. The most recent of these is the Myanmar Companies Law, which replaces the Companies Act of 1914 and is slated to come into effect in August 2018. Drafted with technical assistance from the Asian Development Bank, the new law is expected to reduce red tape and delays

Pham Hong Hai-CEO-HSBC Vietnam

Mind the gap: Government to address the trade deficit by increasing exports

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As its economic liberalisation agenda progresses, the government has increasingly turned its attention towards addressing the country’s widening trade deficit. Although Myanmar exports have risen sharply over the previous decade, they have not kept pace with import growth. An overdependence on raw resource exports and the lack of a diversified, value-added export base have been identified as primary challenges. The National Export Strategy (NES) 2015-19 highlights priority sectors for investment, emphasising agri-processing and value-added manufacturing as holding the highest potential. Targeted import and export regulatory reforms should also support increased inflows into new projects serving the domestic market, as has been the case in the

Mohammed El Etreby-Chairman-Banque Misr

Private enterprise: Infrastructure investment to fuel development goals

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  Bahrain has moved forward with plans to improve national infrastructure as part of its economic development strategy, announcing a series of tenders relating to the upgrade and expansion of the country’s airport. MODERNISATION: In early 2018 Bahrain Airport Company (BAC) issued concessions for works related to airport security at Bahrain International Airport (BIA), including the construction of a new perimeter fence and installation of improved CCTV and lighting facilities. At the same time, the Ministry of Works launched a tender for the first stage of road access improvements to BIA’s new terminal, with work scheduled for completion in late 2018. In addition, BAC issued

Mohammed El Etreby-Chairman-Banque Misr

Balancing act: The state juggles calls for public sector wage increases while encouraging citizens to consider private sector employment

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  Bahrain’s efforts to narrow its fiscal deficit is taking place across a number of fronts. On the revenue side of the equation the awaited introduction of value-added tax is expected to have the single-biggest impact over the next two years. In terms of cutting costs, the ongoing reduction of energy subsidies is garnering considerable attention, as Bahrainis become accustomed to paying near-market prices for the first time. PUBLIC WAGES: At the conclusion of its 2017 Article IV Consultation with Bahrain, the IMF highlighted another

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Mixing it up: Waterfront and mixed-use developments coming on-line are set to add to the high-end commercial and residential segments

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  Bahrain has seen a boom in mixed-use and waterfront developments, with a number of major projects currently under construction that will add significantly to the high-end residential and commercial real estate landscape, not to mention expand the available hotel and tourism-related infrastructure that could be influential in helping grow the kingdom as a tourist destination. In September 2017 Bahrain showcased over $11bn of mixed-use real estate projects at the Cityscape Global property event in Dubai, chief among them Bahrain Bay, a $2.5bn luxury mixed-use

Daouda Coulibaly-Managing Director-Société Ivoirienne de Banque

Race to the finish: Formula 1 Gulf Air Bahrain Grand Prix and a major shopping festival draw tourists from around the globe

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  Part of Bahrain’s tourism strategy is to market experiences as well as the destination, and the country’s leaders have recognised that a full calendar of regular events helps to attract new visitors each year, but also drums up repeat business. At the outset of the 21st century the country invested $150m in building the Middle East’s first Formula 1 Grand Prix circuit. “Tourism infrastructure, and investment in creating destinations, are important parts of extending visitors length of stay in Bahrain beyond a one or

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Nurturing new ideas: Government initiatives give innovators room to grow

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  Bahrain has long remained an attractive place for testing business concepts, with easy scalability in neighbouring markets. The country aims to become a centre of innovation and technological disruption in finance. New regulatory processes from the Central Bank of Bahrain (CBB) allow financial technology (fintech) companies to trial new ideas and systems for limited periods of time without the need to acquire CBB licences for their activities. The CBB hopes it will play a key role in supporting start-ups and nurturing an ecosystem that will make Bahrain a fintech hub. SANDBOX: With $24.7bn invested globally in fintech solutions in 2016 the CBB believes it

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Quality control: A push to improve telecoms service standards has resulted in fines

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  As the telecoms industry has undergone a period of rapid change, the government has put improving the quality of service at the centre of its ambitions for the market. To this end, the Telecommunications/ICT Regulation Authority of Côte d’Ivoire (Autorité de Regulation des Telecommunications/TIC de Côte d’Ivoire, ARTCI), which oversees the sector, has been running annual service quality audits for several years now. This measure has become increasingly significant since the implementation of the 2012 telecoms law, which established financial penalties of 3% to 5% of an operator’s annual turnover for non-compliance of service quality criteria, resulting in a string of punitive fines being

Emmanuel Macron-President of France

Hospitality drive: A major supply push is under way to meet visitor targets for 2020

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  As part of its vision to welcome 5m visitors in 2020, up from 1.5m in 2016, Côte d’Ivoire is actively seeking to increase hotel capacity, and especially the amount of higher-quality and properly licensed accommodation. According to government data, as of January 2017 only 12.28% of hotels operating in the country held an official hotel licence. Given that business tourists account for 60% of visitors, the segment is seeking to rapidly improve quality, quantity and human resource standards throughout the industry. Public Investment Under a major investment push, the government is aiming to provide an additional supply of 5000 new or renovated rooms by