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Shop Bahrain organizers announced the winners of the first raffle draw where three lucky winners received a car from YK Almoayyed & Sons, the Bahrain Online shopping in Bahrain Festival strategic partner. From the gold tier, Mr Yasser Al Shahrani won a Nissan Patrol, while Ms Feryal Mandi from the silver tier won a Nissan Altima, and Mr Ian Fisher from the bronze tier won a Nissan Sunny. The raffle draw was held at the headquarters of the Ministry of Industry, Commerce and Tourism in the presence of Shop Bahrain representatives.safnow.org It is the first in a series of four raffle draws to be held every Sunday until the 19th of February, 2017 with a grand total of 12 cars. "This year we aimed to offer attractive prizes for shoppers and increase the number of prizes. Shop Bahrain is a great shopping platform and it has transcended the popularity as the footfall to the shopping malls has increased," said Shop Bahrain Director, Yousif Al Khan. "We congratulate the winners and encourage mall visitors to shop during the festival to increase their chances of winning," he added. Shop Bahrain aims to revitalize the tourism and retail sectors by hosting a number of entertaining activities and weekly raffle draws that include 12 cars, airline tickets, and over 25,000 valuable prizes.
Our bilateral relations have gathered momentum since His Majesty King Hamad’s visit to China in 2013 and Bahrain is perfectly positioned to play a central role in China’s One Belt, One Road initiative. As longstanding partners, Bahrain strongly supports China’s vision of building a community of shared interests between the Arab world and China. Boosting trade and investment ties with China is important to Bahrain’s economy because it is one of the largest non-GCC markets for Bahraini exports. 8.7bn. This is a significant figure we hope to grow in the future, through initiatives such as our Cloud First commitment and our liberalized and competitive ICT policy. Furthermore, April 2019 marks the 30th anniversary of diplomatic relations between our two nations and we are keen to use the Roadshow to highlight the growing commercial links between China and Bahrain. We have many shared focusses, with technology being the most obvious.
As an agile economy that has been welcoming Chinese tech companies for many years, Bahrain offers unique market access and ease of doing business for those looking to make future investments. How will you judge its success? We are already due to be signing a number of agreements in cities such as Shenzhen and Hangzhou, which will develop China-Bahrain business relations even further. A series of events and meetings with local businesses are also taking place, which is evidence of growing interest in investing in Bahrain. Finally, we are holding meetings with local politicians and media who are all keen to learn more about how Bahrain is building a flexible economy that is the natural gateway to the Gulf.
Therefore, we are already confident that the Roadshow will be a success, but of course the crucial end-result will be to attract additional investment into Bahrain. What is the EDB’s strategy for developing the Bahrain economy? In reality, our strategy is quite simple. What major challenges does Bahrain, and the EDB, face? Like any other country, the competition for foreign direct investment is fierce. But, we continue to do all we can to tell as many companies and investors as possible how Bahrain is a far more attractive investment opportunity than they may have first thought. What advantages and disadvantages does Bahrain have in attracting FDI? Bahrain has many advantages when it comes to attracting foreign direct investment. Our ‘Team Bahrain’ approach embodies these advantages as it sums up the importance of collaboration between the public and private sectors in generating investment.
For example, our agile regulatory system is able to react to the changing business context to ensure companies enjoy the most conducive operating environment. Moreover, for many years we have had the most cost competitive economy in the GCC. For example, on average Bahrain enjoys a cost advantage of 15% to 20% in terms of annual operating costs for an ICT business compared to the average in the GCC . This strengthens the case for companies to use Bahrain as a spring board to expanding into the rest of the region. We are truly the Gateway to the Gulf. Bahrain has long been a trade partner to China in the GCC region, right back to the ancient ties between our two nations when Bahrain was an important stop on the Silk Route. 2019 ARABIAN MAGAZINES - A DIVISION OF CG ARABIA WLL.
Shaikh Mohammed bin Essa Al Khalifa, Chief Executive of the Bahrain Economic Development Board (EDB) "Our aspiration is to place the GCC as a third destination; for people to talk about India, China and the Gulf. It's about all of us being a bigger player on the global stage." In your opinion is GCC going to play a significant role on the global stage alongside giants such as China and India? The GCC region already plays an important role on the world stage. As a significant exporter of oil and capital and a major importer of a wide range of capital and consumer goods as well as foreign labour, the GCC is and will remain an important pocket of wealth in the world. 2 trillion economy, providing nearly one-quarter of the world’s oil supplies as well as increasing quantities of petrochemicals, metals and plastics.
With a current estimated population size of 38.5 million, it is unfair to compare the GCC with China and India, with 1.3 billion and 1.1 billion people respectively. However, the region’s geographic proximity to the industrializing giants of the east gives it certain advantages, which may be attractive for investors from the West and elsewhere. According to the Central Bank Bahrain’s economy should grow by 3% in 2009 amidst he global economic downturn. What are the key engines fuelling this growth and how well is Bahraini economy insulated from the effect of the global economic downturn?morningstar.com The global financial and wider economic crisis has taken a toll on the economies of most countries which are a part of the global economy. The impact on each country has varied only in its degree.
Bahrain, which is very much a part of the global community of nations, is also feeling the pinch of the crisis. Oil prices, which were spiraling at this time last year, have settled at more modest levels, global market conditions have put a squeeze on credit markets and the property boom has ended. All this has slowed the pace of the frenetic activity of the recent past but it has not halted economic activity or growth in Bahrain. Lower oil prices will also take their toll on the Bahrain economy as it is still considered to be a net exporter and investment flows from GCC investors will decline in the coming years. Therefore, Bahrain economy is expected to slow sharply in 2009 to 3% after growing by 8.1% and 5.7% in 2007 and 2008 respectively, as regional growth moderates and government finances are squeezed.
30 per barrel, and global market conditions improving, Bahrain economy is expected to recover and to return to its expanding phase with over 5% rate of growth. One must remember that oil prices, even at their current levels, are much higher than a decade ago. This provides the government of Bahrain the resources needed to continue its planned projects and create prosperity within the domestic economy.gadgetsnow.com Over the past three decades, Bahrain has positioned itself as the financial hub of the Middle East, which is a testimony to the successful implementation of the country’s diversification strategy. The country boasts a fairly large banking and financial services industry, which contributes more than a quarter of Bahrain’s GDP and is the 2nd largest contributor to GDP, after oil.
The financial sector has held up well so far and has not experienced the kind of turbulence witnessed in Europe and the US. The Central Bank of Bahrain has not had to rescue the banks, which remain, by and large, robust and well capitalized, although investment banks have seen a deterioration in their asset quality and portfolios. The tourism and hospitality sector remains fairly unaffected, despite the more severe effects we are seeing elsewhere in the region, while the manufacturing and construction sectors have been negatively impacted, to varying degrees. As long as the global economy remains in recession, the various segments of Bahrain’s economy will remain vulnerable. However, there are structural positives and the outlook remains bright.
This entry records the difference between national government revenues and expenditures, expressed as a percent of GDP. Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money. Countries with high budget deficits (relative to their GDPs) generally have more difficulty raising funds to finance expenditures, than those with lower deficits. Public debt, share of GDP: Public debt as % of GDP (CIA). No date was available from the Wikipedia article, so we used the date of retrieval.cnn.com Exports: This entry provides the total US dollar amount of merchandise exports on an f.o.b.
