Recent years have seen the promulgation of various laws to position Bahrain as a competitive regional jurisdiction. This chapter reviews these new laws, including Bahrain’s new Law for the Encouragement and Protection of Competition, which came into effect on February 1, 2019. The first dedicated Personal Data Protection Law (PDPL) came into force on August 1, 2019. Prior to the implementation...
The Middle East Legal Framework
Chapter | Legal Framework from The Report: Bahrain 2020
Bahrain pioneered oil production in the Middle East beginning in the 1930s, establishing the region’s initial framework for the petroleum industry. Some 90 years later oil and gas operations comprise 18% of GDP, with the economy well diversified to host established financial services and industrial sectors, as well as unique tourism offerings.
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Chapter | Legal Framework from The Report: Kuwait 2022
While it is common knowledge that laws in the Middle East include restrictions on foreign parties doing business that do not apply to citizens, progress has been made in recent years to facilitate foreign investment and participation in businesses in the region. Kuwait was a pioneer in this regard, with the promulgation of the Foreign Direct Investment Law in 2014, which has since been...
The economy of Kuwait has long been underpinned by the production and export of crude oil. Although the rise in energy prices in 2021-22 boosted government revenue and macroeconomic stability, the Covid-19 pandemic, which preceded the commodity price boom, underscored the risk of over-reliance on an industry subject to fluctuating global demand. This has created fresh impetus for economic diversification, with robust public finances providing a strong platform to...
Chapter | Legal Framework from The Report: Saudi Arabia 2022
In recent years Saudi Arabia has committed to a series of wide-ranging reforms that aim to diversify the economy; foster a more open and connected society; and establish a transparent, efficient and accountable government under the country’s Vision 2030 strategic framework. With those objectives in mind, there have been numerous legislative developments related to real estate, foreign...
Saudi Arabia has undergone significant reforms to foster growth and diversification. While some initiatives were delayed during the Covid-19 pandemic, progress in areas such as the digital economy accelerated. Aided by elevated oil prices in 2022, strategies underlined in Vision 2030 continue moving forwards, and the Kingdom today presents ample opportunities for foreign investors, underpinned by efforts to boost private sector participation in the economy.
After weathering a series of global and regional challenges in recent years, Bahrain is emerging from the Covid-19 pandemic with strong growth, rising government revenue and a new plan for the future economy. As energy and tourism earnings recover, the kingdom aims to generate sustainable long-term growth opportunities through new sector strategies and transformational infrastructure projects.
Qatar is leveraging its resources to become a knowledge-based, diversified economy fuelled by a dynamic private sector. As such, the country is investing in strategic areas such as agriculture, services, and research and development to further move the economy away from its dependence on hydrocarbons and attract greater foreign direct investment.