Interview:Ali Al Baqali How do you assess the prospects for economic recovery, and what will be the main growth drivers for the aluminium segment? ALI AL BAQALI: In October 2021 the government, led by the crown prince and prime minister, released an Economic Recovery Plan to help Bahrain bounce back from the Covid-19 pandemic. It included more than $30bn worth of investment opportunities in…
Interview:Abdulwahab Al Sadoun How was the GCC petrochemical industry affected by the Covid-19 pandemic? ABDULWAHAB AL SADOUN: The health crisis had a significant effect: in the first half of 2020 demand collapsed and prices plunged, compounded by supply chain disruptions related to port closures in China and freight rates as much as three times higher than before the pandemic. These factors…
Interview:Mohammed Khalil Alsayed How do you view the attractiveness of Bahrain’s property market for foreign investment, and what could be done to enhance its appeal? MOHAMMED KHALIL ALSAYED: While the current framework for foreign investment in the local property market is appealing, the government is looking for ways to enhance the visibility of the market and position the kingdom as a…
Interview:Mohamed Yousif Albinfalah What were the main challenges the aviation industry faced during the Covid-19 pandemic, and how were these overcome? MOHAMED YOUSIF ALBINFALAH: The pressing need to set up special operations at the airport to deal with the pandemic was apparent as early as January 2020, when operations at Bahrain International Airport (BIA) were still running from the old terminal.…
Viewpoint:Sheikh Khaled bin Abdullah Al Khalifa As countries around the world continue to recover from the economic challenges of Covid-19, it is paramount for government leaders to implement sound policies and develop strategies that will see a return to the level of stability we experienced before the pandemic. The kingdom of Bahrain has been praised internationally for its comprehensive…
Viewpoint:Mubeen Khadir We are witnessing tax regimes evolve around the world, especially in the Middle East. This is not only due to the shifting economic and social conditions, but also to the rapidly changing global marketplace in a digital era. With accelerated digital transformation taking place over the past few years – hastened by factors disruptions such as the Covid-19 pandemic –…
Bahrain has long taken a liberal approach to international trade and investment policy, which it conducts largely in line with its partners in the GCC, especially neighbouring Saudi Arabia. Historically, its closest foreign relations beyond the region have been with the US and the UK. Initially built around the defence industry, over the years these relations have expanded to areas such as electrical…
In October 2021 the government launched a reform and investment programme in line with Bahrain Economic Vision 2030, the country’s long-term development and diversification framework. The package had five pillars: the revised Fiscal Balance Programme (FBP), labour market reforms, regulatory reforms, a strategic projects plan aiming to attract $30bn in investment and a priority sector plan. Under…
From remote work to widespread job losses, the Covid-19 pandemic dramatically changed the way people work. These interruptions are likely to have a significant impact on the labour market well into the future. In a briefing from June 2021, the UN said that many emerging markets in particular were experiencing a “full-blown unemployment crisis” that was exacerbating existing economic disparities. Rise…
As oil prices reach recent highs, a number of countries in the Middle East have unveiled fiscal measures designed to balance their budgets after two years of Covid-19 pandemic-related spending. Bahrain is following this trend: in October 2021 it released a plan designed to balance the budget by 2024 (see analysis). In addition to doubling the value-added tax (VAT) to 10%, the plan includes a reduction…
