The Middle East Economy

Displaying 1921 - 1926 of 2003

Chapter | Country Profile from The Report: Bahrain 2012

This chapter includes information about Bahrain’s history, economy, government, financial services sector (including Islamic financial services), population, climate, natural resources, language and culture. It also includes a viewpoint with King Hamad bin Isa Al Khalifa, and Abdul Latif bin Rashed Al Zayani, Secretary-General of the GCC. This section also includes an interview with Princess...

Bahrain has weathered the effects of a difficult global economic period well, and its recovery has been solid, demonstrating the strength and flexibility of its economy. The government’s drive to diversify away from oil and gas dependence has been renewed, and a wealth of ambitious non-oil sector projects – from infrastructure to renewable energy technology – is now in the pipeline.

Ras Al Khaimah’s (RAK) economy is on track to post a second year of solid growth. The emirate, however, is also keeping an eye on any signs of economic slowdown or political instability elsewhere in the region, which could impact its overall expansion.
Narrowing the current account gap and correcting the underdevelopment of the Anatolian provinces are just two of the goals of the Turkish government’s latest investment incentive scheme, announced in early April. The plan, which specifically aims at replacing intermediate goods imports with locally manufactured products, has won accolades from the private sector and business organisations.
Saudi Arabia’s economy, already robust after posting growth of 6.8% last year, seems set for a period of sustained expansion, with state-backed investments and higher-than-projected hydrocarbons earnings contributing to the Kingdom’s strong performance.
Small and medium-sized enterprises (SMEs) in Oman are gaining increased support from public and private organisations alike, with a number of public officials having expressed enthusiasm for the further development of the sector.

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