This chapter contains an overview of the tax framework in which local and foreign investors operate in Bahrain, including a summary of accounting standards and principles in the country, an analysis of Brexit’s impacts on GCC economies and a look ahead to the possible implementation of VAT in the GCC. This chapter contains a viewpoint from Ahmed Alsulaiman, Managing Partner, KSI - Bahrain Consultants…
Bahrain now has a solid telecoms market with customers benefitting from a diverse array of services and increasingly competitive rates. The 2014 World Bank “Broadband Networks in the Middle East and North Africa” report singled out Bahrain as having the only mature broadband market in the MENA region, as well as being one of only two countries in the region to have a fully open telecoms market.…
A rise in population is slowly putting pressure on Bahrain’s public health care sector, which is the oldest in the GCC region, with the first modern hospital in the Gulf established in Bahrain in 1902. The health care sector in Bahrain has historically been heavily dependent on government-run facilities and public money, but moves in recent years have set in motion the growth of the private sector.…
As Bahrain continues to move from an oil-dependent economy to a more knowledge-based one, education is taking a driving seat in training the next generation of young Bahraini citizens in how to prosper in this new landscape. While education has long been a priority, the focus right now is on raising overall standards, from primary education on up. Perhaps the biggest changes taking place are in the…
With its long history as a trading centre, its wildlife and its ancient forts and mosques, Bahrain has strong appeal to draw in visitors from near and far. Made up of more than 30 islands, the archipelago is easy access for people living in the Gulf region – making it a prime destination for short stays – and visitors are able to check in to one of the increasing number of four- and five-star hotels…
From heavy industries largely owned by government entities to regional headquarters for multinational companies, Bahrain has a vibrant manufacturing sector that is growing steadily and playing an increasingly important role in the economy. The global downturn in both crude oil and commodities prices squeezed profit margins despite record production by Bahrain’s petrochemicals plants and aluminium…
With a raft of measures aimed at improving infrastructure, industry, housing and connectivity, the government of Bahrain has a $32bn investment strategy to accelerate economic diversification in the kingdom, providing abundant opportunities for the country’s construction sector. Even against a backdrop of falling oil prices that has seen the cancellation or deceleration of infrastructure investment…
With construction under way on the $1.1bn expansion of its international airport and a further $700m investment being made on road and bridge building, Bahrain is working hard to improve its connections to the rest of the world while shortening journey times for its residents. Public transit is also a priority. Within six months of its new buses starting service in February 2015, some 33,000 passengers…
Although its revenues from oil and gas have fallen, the government of Bahrain is ploughing new investment into the kingdom’s energy sector in the hopes that the broader economy will reap the benefits in the years to come. This counter-cyclical spending is designed to allow a significant increase in refinery capacity and a more secure supply of fuel for the country’s aluminium smelters, petrochemical…
The wide array of local and international insurance companies that operate out of Manama have flourished in a regulatory environment that has allowed them to serve the small domestic market while simultaneously extending their operations regionally. A history of sound prudential oversight has protected them from the series of economic shocks that have created a challenging economic environment since…
