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Business reforms foster the development of Bahrain's manufacturing and heavy industries
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Since the 1970s Bahrain has made a concerted effort to diversify its economy, with efforts visible in the vibrant manufacturing segment and from the growth of the kingdom’s heavy industries. Despite the drop in state revenues due to lower global oil prices in recent years, Bahrain continues to invest in its industrial sector, notably with the $3bn expansion of Aluminium Bahrain (Alba), which…

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Bahrain upgrades existing tourism infrastructure to meet demand
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As a leading performer in Bahrain’s economy in 2017, the tourism and leisure sector has begun measuring its success and impact in billions of dollars. The kingdom expects to see annual tourism receipts of over $1bn by 2020, by which time over $1bn will have been spent on upgrading its international airport and a further $10bn on a raft of new luxury hotel developments. By the end of 2018…

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Bahrain seeks to raise the efficiency and quality of health care
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With the pending introduction of a national health insurance scheme and an administrative transformation that promises to bind the kingdom’s hospital system more closely together to improve transparency, efficiency and patient care, the short-term prognosis for health care in Bahrain is positive. The government has devoted more of its national wealth to the sector than any of its Gulf neighbours…

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Bahrain aims to improve educational outcomes
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The public education system of Bahrain is poised to mark its centenary in 2019, but the main focus in the country’s schools and universities is further in the future. New institutions are being built and opened in both the public and private sectors to serve young people from nursery age through to postgraduate study. According to international indices, Bahrain’s schools are outperforming…

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Strong competition in Bahrain's telecoms sector helps build the future of the industry
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Recognised by the government as an engine for growth, economic diversification and social cohesion, the telecoms sector in Bahrain is expected to play a vital role in enabling the kingdom to achieve its ambition of becoming a regional centre for digital technology. Since ownership was liberalised in the early 21st century, the industry has made a direct contribution to the development of the…

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Reforms align Bahrain's accountancy and tax requirements with international norms
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In line with global practices, Bahrain is committed to adopting the new International Financial Reporting Standards (IFRS) as of January 1, 2018. Accordingly, IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers are coming into practice in the kingdom. BACKGROUND FOR IFRS 15: The US Financial Accounting Standards Board (FASB) and International Accounting Standards…

Overview

Strong competition in Bahrain's telecoms sector helps build the future of the industry
OBG
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Recognised by the government as an engine for growth, economic diversification and social cohesion, the telecoms sector in Bahrain is expected to play a vital role in enabling the kingdom to achieve its ambition of becoming a regional centre for digital technology. Since ownership was liberalised in the early 21st century, the industry has made a direct contribution to the development of the…

Overview

Bahrain maintains its lead in ICT innovation
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Bahrain has set itself the ambitious goal of universal ultra-fast broadband. Enthusiastic adoption of smartphones by consumers, coupled with investment by mobile network operators in the latest technology, have seen a rapid increase in broadband penetration, in turn laying the foundations for further growth in the sector. On the world stage, Bahrain was ranked 31st out of 176 countries –…

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Useful tips and interesting facts for travellers visiting Bahrain
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National Character While Bahrainis are interested in and open to foreign cultures, they are also very proud of their own identity, history and culture, and they are willing to share their local customs and traditions with those who are keen to learn. Etiquette Although Bahrain has a liberal social atmosphere and a large expatriate community, one should remain considerate of local sensitivities.…

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Bahrain's laws continue to evolve in response to the shifting economic landscape
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Bahrain’s Bankruptcy and Composition Law, promulgated by Legislative Decree No. 11 of 1987, aims to establish a balance between creditor and debtor interests. Honest and unfortunate merchants who suspend payment of their commercial debts are eligible to file for bankruptcy and conclude a conciliation with their creditors. The law also protects creditors from any act taken by the merchant…