imported 2024-03-17 17:43:07
The Middle East is blessed with 60% of the crude oil reserves and 40% of the gas reserves. All GCC countries are expanding their production capacities. Increased oil and gas output coupled with global thirst for oil will result in region’s dominant position on the World’s geopolitical scene.
Bahrain was the first country in the GCC where oil was discovered. Over the years the revenues from oil and gas sector was used to propel Bahrain’s economic growth and diversification. Bahrain is No.1 country in the GCC in human development. Currently, oil and gas sector contributes only 24% to the GDP and at constant prices only 12%.
Bahrain Bay has managed to sell 65 per cent of the land despite the financial crisis, and the difficulties of the real-estate market over the last 3 years and attracted a diversity of investors; local, regional and international.
Real-Estate in Bahrain was affected by the global economic crisis rather than the recent political unrest. The MENA region offers untapped investment opportunities with young, large demographics. Mr. Vincent talks about the real-estate sector in a broad range interview for Marcopolis Bahrain Report.
Mazin Manna, Chief Executive Officer of Citibank Bahrain
The Bahrain 2020’s are trading at a yield of around 5.7% down from their peak of 6.8% and are now trading much closer to pre-crisis levels again demonstrating investor interest in Bahrain.
Bahrain is to invest $ 10 Billion aimed to enhance Bahrain’s oil production capacity and to upgrade the existing oil fields using the latest technology. Mr. Al-Mahroos talks about the benefits of the investments, upcoming projects and the investment environment in the oil industry.
Oil plays the most important role in Bahrain’s economy. Oil exports account for 80% of Bahrain’s government revenues. Furthermore, the oil industry represents 15% of Bahrain’s GDP. Oil Dependency is inevitable and oil will remain the economic and growth engine of the economy.
Mr. Manna talks about the outlook for the banking sector in Bahrain and the effects the crisis has had on the sector. According to Manna “government should not adopt the expansionary fiscal policy as the banking sector is very liquid and well capitalized, rather they should focus on providing good lending opportunities”.
Bahrain is one of the first countries in the GCC to have a society (established in 2004) to protect migrant workers, especially the ones not subject to the labor law.
Bahrain Businesswomen Society was established in 2000 with the mission to promote women into the business sphere, boards of directors etc. Currently, only 2% of the members of the board of directors are women.
