ARAB NATIONS
COUNTRY FOCUS – BAHRAIN
A regional centre for finance and trade
economies of the region. Its communications and transport are highly developed, which entices many multinational companies in the Arabian Peninsula to establish offices there, including Meat and Livestock Australia.
T
A healthy export market The oil industry dominates the economy, however unlike other Gulf states, Bahrain has a large refining capacity and the country exports refined petroleum products rather than crude oil. Bahrain also imports crude oil from Saudi Arabia via pipeline for refining and re-exporting. The oil sector contributes only about 11 per cent of GDP (exclusive of allied industries), however oil sales provide 70 per cent of government revenue and more than 60 per cent of Bahrain’s export receipts.
he Kingdom of Bahrain is made up of a group of islands that combine to make an area less than a third of the size of the Australian Capital Territory, yet the country has one of the most diversified
Bahrain’s second
export after oil is aluminium and the country has one of the largest aluminium smelters in the world, the state-owned Alba (Aluminium Bahrain), which is known for its technological strength and innovation. The energy spent in aluminium smelting corresponds to about 20 per cent of its production cost, and in Bahrain this production takes advantage of the country’s plentiful natural gas reserves, maximising the use of its natural resources. The geographical location of Bahrain plays a key role in allowing the country to import alumina (used in aluminium production) from Western Australia, produce aluminium and then export it to Europe, Asia and the Americas.
National Bank in Manama, Bahrain. Photo by: Prince Grobhelm
The region’s financial capital Bahrain has been the region’s financial capital for more than 40 years and the sector is currently the largest contributor to GDP at 30 per cent. The country is considered to be the best regulated financial centre in the Middle East and is a major finance centre, with more than 400 licensed financial service institutions. Bahrain has the biggest concentration of Islamic financial institutions in the Middle East, with standardised regulations of the Islamic banking industry. In Bahrain, personal and corporate income taxes are
Bahrain World Trade Center building. Photo by: Tim Miller. 114 AUSTRALIA AND THE ARAB COUNTRIES | 2010
not imposed and the country has a liberal investment environment. The country permits 100 per cent foreign ownership of industrial projects and most company types and the establishment of representative offices of foreign companies with no local sponsor. Infrastructure and construction are well developed and within the region,
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132