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Economic News

Gulf countries look to space to harness scientific and commercial opportunities
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– Space sector could galvanise diversification in technology, defence and tourism – Newly established Saudi Space Agency is projected to accelerate investment – The UAE is expanding its capabilities in exploration and satellite imaging – Global partnerships with Chinese and Western firms prioritise localisation In the push to embrace emerging technologies and harness their…
Economic View

Bahrain focuses on responsible expansion in the cryptocurrency industry

On the importance of creating a conducive regulatory framework to foster an investment-friendly environment Which developments in the global crypto-asset market are shaping investment opportunities for exchange firms in Bahrain? MOHAMED KHALID ATEEQ: One of the most significant developments is the growing demand for compliant and regulated crypto-asset firms. This has led investors to seek…
Chapter

The Report: Bahrain 2023: ICT
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ICT sector development forms a central element of Bahrain’s economic growth and innovation plans, enabling the development of multiple sectors and enhancing public service provision. Owing to a favourable business environment, advanced digital infrastructure and a deep talent pool, the kingdom has emerged as an attractive proposition for international ICT companies seeking a base in the region. The…
Viewpoint

Mubeen Khadir, Head of Tax and Corporate Services, KPMG Fakhro: Viewpoint
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Viewpoint:Mubeen Khadir Since Bahrain implemented VAT on January 1, 2019, the National Bureau for Revenue (NBR) has seen a rise in tax disputes and reassessments. In some cases, these have resulted in litigation between the taxpayer and the NBR. With the VAT rate doubling as of January 1, 2022 – with a one-year transitional period – we are likely to see more such disputes in the years ahead. Certain…

Overview

Bahrain updates tax regulations to encourage investment
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Bahrain has long enjoyed its status as a tax-free jurisdiction prior to the introduction of excise tax in late 2017, followed by the introduction of value-added tax (VAT) in 2019. The kingdom is now home to an evolving tax landscape, with several notable tax and reporting regulations introduced since 2017. Bahrain is well established as a financial leader in the Middle East, and in recent years the…
Interview

Ghassan Fouad Aouad, Former President, Applied Science University: Interview
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Interview:Ghassan Fouad Aouad How can the local start-up ecosystem strengthen higher education while supporting national economic diversification? GHASSAN FOUAD AOUAD: The higher education sector in Bahrain and across the globe is facing unprecedented challenges as a result of severe competition and issues related to the Covid-19 pandemic, the economy and conflict. In order to thrive in the long…
Interview

Dr Sheikh Mohammed bin Abdullah Al Khalifa, Chairman, Supreme Council of Health (SCH): Interview
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Interview: Dr. Sheikh Mohammed bin Abdullah Al Khalifa Which developments will help boost investment levels in Bahrain’s health care industry and increase its contribution to the local economy? DR. SHEIKH MOHAMMED BIN ABDULLAH AL KHALIFA: The health care industry in Bahrain is expanding, with various development projects under way. This growth represents an opportunity for investors who are interested…

Analysis

New technologies empower Bahrain's workforce
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With the Covid-19 pandemic highlighting the importance of digital accessibility, as well as business skills and education, Bahrain is capitalising on previous gains in digital literacy and online training. The kingdom has also accelerated professional development programmes, keeping pace with the recent uptick in digitalisation across its economy. Systemic Shift Bahrain’s long-term education goals…

Overview

Bahrain invests in education and health care systems
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Bahrain was the first Gulf country to establish government-sponsored education in 1919 and it continues to invest in strengthening its education system. With Bahrain Economic Vision 2030 – the country’s economic diversification blueprint – and the National Higher Education Strategy 2014-24 guiding the kingdom’s schooling strategy, Bahrain is expanding its public education infrastructure, and…
Country Report

The Report: Bahrain 2023
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Policy interventions and an investor-friendly regulatory environment continue to attract investors to Bahrain as both a place to establish a business, and as a gateway through which to enter the markets of the broader GCC and MENA regions. A more strategic and sustainable funding model has been adopted by the government, and this shift in approach is beginning to be reflected in the fiscal balance