Bahraini business environment gives it edge

The island nation of Bahrain in the Gulf is attracting more and more business interest from around the world due to its competitive advantages, according to Jiang Yun, Bahrain Economic Development Board's representative for China.

The country has a unique location, good transport links, large numbers of professional workers, rich natural resources, a highly-developed financial industry and beautiful scenery, Jiang said.

To better develop and utilize its own advantages, and increase its competitiveness in the Middle East, Bahrain is focusing on the development of its manufacturing, finance and high-tech industries, providing lower investment costs, and a free business environment for companies, he added.

Jiang said that compared with other countries in the Gulf, Bahrain has advantages in its infrastructure, which can reduce company running costs.

The cost of leasing offices and hiring employees in Bahrain is lower than some major cities in the region, and the island nation has first-class logistics infrastructure and lower costs for transportation than other countries in the Gulf, he said.

Bahrain also provides a favorable tax system for enterprises and employees, with no corporate or personal income tax, and no capital gains or inheritance tax, according to Jiang

Trade that takes place in the area of the Gulf Cooperation Council is exempt from tariffs because of current free trade agreements.

Bahrain's trade liberalization ranked 18 among the 178 countries in the world and ranked the top in the Middle East and North Africa in the 2015 Index of Economic Freedom reported by the United States-based Heritage Foundation and the Wall Street Journal.

Companies can be 100 percent foreign owned in Bahrain and have no restrictions on capital, profits and dividends, which applies to the whole international community.

In addition, Bahrain provides effective protection for different business philosophies with a free attitude toward business and culture. Through close cooperation between the government and regulators, Bahrain has created a high-quality business environment with the lowest level of interference, according to Jiang.

Having sustained economic growth, low inflation and stable prices, Bahrain is one of the largest financial service centers in the Middle East, with more than 400 well-regulated financial services companies and many financial institutions that have regional headquarters in the country.

Investors have a great number of opportunities in Bahrain's mature and sizeable business system and its global transparent mechanism and strong regulatory system also provides strong support.

Since the King of Bahrain visited China in 2013, the two sides have launched a large number of economic and trade investments. Chinese companies registered in Bahrain have increased from 60 in 2013 to about 600 currently, and the total investment has increased from $50 million to $400 million.

For many years, as a commercial port, Bahrain has been greeting guests from all over the world with full enthusiasm, Jiang said. With the vigorous development of logistics and the central position of the Gulf, Bahrain allows companies to quickly and easily connect with other markets and attract more opportunities.

hanlu@chinadaily.com.cn

(China Daily 05/30/2018 page24)