Bahrain is investing heavily in expanding its industrial sector, as the non-oil sector continues to drive growth in the kingdom. The oil and gas sector grew by 3% in 2014, while the non-hydrocarbons sectors expanded by 4.9%. In the first quarter of 2015, manufacturing was up 5.9% year-on-year. In June 2015 Aluminium Bahrain (Alba) announced it would be going ahead with a sixth production line...
Bahrain’s construction sector is booming, with the country using billions of dollars of Gulf Development Programme donations to remodel its airport and highway system, as well as provide tens of thousands of affordable new homes for its citizens. In 2014 year-on-year sector growth was 7.3%, and was only surpassed by the hotel and restaurant sector, and personal and social services. In the...
Bahrain’s transport sector is gearing up for expansion in both the short and medium term, with GCC funds being used to complete upgrades to the road network and airport facilities. The government is also investing in infrastructure improvements and new public transport initiatives. The Ministry of Works has invested $485m in road network upgrades, which include the remodeling of junctions,...
Although the global drop in crude oil prices is a concern, the early adoption of economic diversification efforts has created positive growth trajectories in non-oil sectors in Bahrain, such as construction and transport. Hydrocarbons continue to form the bulk of government revenues in Bahrain, with oil and gas accounting for 24.1% of Bahrain’s GDP in 2014. Neighbouring Saudi Arabia...
For decades Bahrain has been home to one of the GCC’s most developed insurance sectors, with domestic and international firms taking advantage of the country’s robust yet accommodating regulatory structure to pursue business both locally and in rapidly emerging regional markets. Some 25 locally incorporated insurers operate in Bahrain, with a further 22 locally incorporated firms restricted to...
As a pioneer in Islamic finance regulations and the home of some of the most important standard- setting institutions in the global sharia-compliant arena, Bahrain is at the forefront of the international Islamic financial services industry. In 2001 Bahrain became the first country in the world to implement regulations specific to Islamic banking. Since then the Central Bank of Bahrain’s...
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