The GCC has continued to grow and develop with its welcoming policies and enticing business environment. A wide range of factors has led businesses from all over the world to explore and enter the GCC over the past few decades.
These enticing factors include advantageous geographic location, the potential of the regional market, welcoming policies of local governments, availability of highly skilled employees and favourable tax benefits, among others. As the region has continues to grow, so do the businesses and the business opportunities. Countries like Bahrain, United Arab Emirates and Saudi Arabia continue to attract large amounts of foreign investment – for all the right reasons.
While the GCC and the MENA region, in general, has several countries offering investment opportunities, Bahrain holds an advantage in many of them. While countries like the UAE may be wealthier, the small island nation of Bahrain continues to be a favourite of multi-national and trans-national companies from around the world.
There are many reasons an investor or a business would choose Bahrain. With its consistently high rankings on expat satisfaction surveys, Bahrain has always been a popular destination for expatriate workers from all over the world. The kingdom has catered to its guests with its fair policies and governance.
The country continues to prosper under its leadership and with its people. Bahrain has several advantages such as infrastructure, regulations and taxes or, the lack of it among others. This article will refer to the primary benefits to businesses, expatriates and investors who choose to enter Bahrain.
1. Expat Friendly
Bahrain has always ranked exceptionally well in surveys measuring expat friendliness. Consistently ranked among the top 10 and sometimes, even ranked the best country for expatriates in the world, the country merits its reputation.
The country is a small island, and much like a small village from a larger country, there is a warm aura to everything and everyone that lives here. Likewise, the local population is very friendly and warm, with many finding it easy to make friends among local families.
There is also a considerable expatriate population, which aids in making life that much better and welcoming for your expatriate assignees. It is a truly globalised nation with many international businesses in industries as varying as F&B and Energy operating from the country. It has also done an excellent job at preserving elements of its local culture, making it that much more charming for the global population that resides there.
2. Strong Infrastructure
While the country does have a small-town feel to it, it is anything but that when it comes to its infrastructure.
With a very well-developed road network and historic ports, the country is perfect for trade and manufacture. The country also has one of the best selection broadband networks in the world, making it ideal for business. It has also recently opened up a new terminal at its international airport, ensuring the country remains prepared to serve the needs of travellers in the post-pandemic world.
There is cheap access to essentials such as electricity, water, and fuel. Alongside this, the country is also connected to the Kingdom of Saudi Arabia through the King Fahad Causeway, providing an easily accessible link to one of the wealthiest nations in the region.
3. Location
Strategically located in the Arabian Gulf, Bahrain is primed to take full advantage of its proximity to some of the busiest maritime ports in the world.
In addition to the aforementioned road link to Saudi Arabia, the country has also been constructing a road to neighbouring Qatar – host of the 2022 FIFA World Cup. This road, once finished, is expected to be the longest fixed causeway in the world. Moreover, the country also has a brand new international airport which, along with its airline – Gulf Air which operates flights to 28 countries and more than twice as many destinations – makes it ideally positioned to serve the air travel needs of professionals and investors in the region.
4. Governance
The country has the advantage of a stable government and consistent policies that help eliminate headaches and trouble for investors and business owners from around the world. The country was awarded an impressive score of 76 with a global rank of 43 in this Doing Business report.
With excellent scores in areas like starting a business, entering into a contract and paying taxes (in which it is ranked #1 in the world), the country has several massive advantages that continue to drive investors to this small nation.
The excellence of the governance of the country is also visible in its foreign policies and the stances it has taken on many important topics of concern.
5. Foreign Relations
The country enjoys very strong relations with other counties within the GCC such as Saudi Arabia and the United Arab Emirates. It has also brought in significant investments from both of these countries in several different projects.
The country also maintains a moderate stance in most international issues, ensuring the diplomatic ties remain strong with other countries.
It is clear that the country has a growing list of advantages it offers to companies and individuals who are looking into the country. Bahrain continues to grow and diversify its economy with policies allowing full foreign ownership and other favourable factors to investors in key areas like Information Technology, among others.
If you want to learn more about how we can help set up and operate your business in Bahrain, drop us a message.