Economy
From The Report: Bahrain 2022
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A wave of labour and regulatory reform is under way in Bahrain, as is an ambitious programme that aims to attract $30bn in investment in the tourism, transport, health, education, construction and real estate sectors. Meanwhile, the Fiscal Balance Programme launched in late 2018 has been updated – taking into account the Covid-19 pandemic’s impact – with a new target of balancing the budget by 2024.

This chapter contains interviews with Zayed bin Rashid Al Zayani, Minister of Industry and Commerce; and Mohamed bin Thamer Al Kaabi, Minister of Transportation and Telecommunications.

Articles from this Chapter

Overview

Return to growth: Projects and investment help the kingdom emerge resilient from a series of international crises
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After weathering a series of global and regional challenges in recent years, Bahrain is emerging from the Covid-19 pandemic with a return to growth, rising government revenue and a new plan for the kingdom’s future economy. It was able to weather the 2020-22 period that was characterised by low energy prices on international markets, which resulted in slowed GDP growth both in the GCC and at home. These positive developments build on the country’s robust financial services and manufacturing sectors,…

Analysis

Balancing act: The government aims to support a post-pandemic recovery via a series of investment projects while also balancing the budget
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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 the auspices of the reform programme, the updated FBP aims to eliminate the fiscal deficit by 2024.…

Interview

Accelerating opportunities: Zayed bin Rashid Al Zayani, Minister of Industry and Commerce, on increasing exports and creating jobs
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Interview:Zayed bin Rashid Al Zayani How will the Industrial Sector Strategy 2022-26 support small businesses, and what can be done to facilitate their integration into global value chains? ZAYEDBIN RASHID AL ZAYANI: Launched as part of the Economic Recovery Plan in response to the Covid-19 pandemic, the Industrial Sector Strategy 2022-26 focuses on developing an advanced, innovative and sustainable industrial sector. One of the pillars of this strategy is to strengthen national industries…

Interview

Positive indicators: Mohamed bin Thamer Al Kaabi, Minister of Transportation and Telecommunications, on prioritising logistics and ICT spending
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Interview:Mohamed bin Thamer Al Kaabi What opportunities does the Logistics Services Sector Strategy 2022-26 present, and what can be done to catalyse private investment in key projects? MOHAMED BIN THAMER AL KAABI: Bahrain already provides a business-friendly environment for the private sector, and the Logistics Services Sector Strategy 2022-26 builds on this. We have undertaken improvements in Customs procedures to streamline business processes. We have also launched the fastest global…