@findmeinbahrain 2013

Your unique guide on business & leisure in the Kingdom of Bahrain

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NASS is a brand that has over the years created a niche in the field of construction, industrial, manufacturing, marine, trading and services. For decades this name is trusted for the experience, quality and safety ethics. Today, Nass is in a unique position to deliver turnkey installations and with a convinent single source of multiple services. NASS is a name that stands for leadership and excellence delivering on the promise year after year.

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BAHRAIN P.O. Box: 669, Manama, Kingdom of Bahrain T: +973 17 725522 F: +973 17 728184 E: nassbah@batelco.com.bh

SAUDI P.O. Box: 31401, Al Khobar 31952, KSA T: +966 (0) 3867 1909 F: +966 (0) 3867 4397 E: anp@nass-sa.net

QATAR P.O. Box: 24287, Doha, State of Qatar T: +974 4436 8668 F: +974 4436 8338 E: nassgroup@qatar.net.qa

KUWAIT P.O. Box: 1632 Safat 13017, Kuwait T: +965 (2) 3987 034 F: +965 (2) 3987 039 E: agnquality@gmail.com

www.nassgroup.com

OMAN P.O. Box: 1957, Al- Athaibah Sultanate of Oman T: +968 2452 3091 F: +968 2452 3096 E: info@nassgroup.om

UNITED ARAB EMIRATES P.O. Box: 38003, Abu Dhabi, U.A.E. T: +971 2 6815770 F: +971 2 6810272 E: nass@emirates.net.ae

06@Bahrain 06 IINTRO 08 IWONDER 10 ICOUNTRY 14 IHISTORY 20 ITRAVELLER 30 IMAP

32@Biz 34 INTRO 66 INVESTMENT AND LEGAL FRAMEWORK 70 EDUCATION, TRAINING & EMPLOYMENT 76 FINANCE & INSURANCE 86 ENERGY RESOURCES 94 INDUSTRY & COMMERCE 100 INFRASTRUCTURE, TRANSPORT AND LOGISTICS 104 ICT 108 REAL ESTATE AND HOUSING 114 HEALTH 118 TOURISM

124@Leisure 124 INTRO 126 ARTS AND CULTURE 135 MARINE AND WILDLIFE 136 SHOPPING 138 SPORTS 139 FAMILY ATTRACTIONS

142@Who is Who

@Bahrain

Bahrain, a group of islands that together cover an area of only 760 sq km, is as small as it is significant in the historical development of the Gulf Cooperation Council (GCC) region. It was the first to discover oil, the first to open a university for men and then for women, the first to industrialise the country towards downstream industries, and one of the first to form a national assembly.

It was as well the first country in the region to confront political instability in 2011 in the back of the Arab Spring. Pioneer in virtually everything within the Gulf region, Bahrain might as well become the first to introduce a new set of reforms towards more democracy.

Despite the adversities, Bahrain´s reputation as a major strategically located trade centre and a regional financial hub remains strong with growth picking up again to normal levels.

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View of Manama City center at night with the Financial Harbour at the right end.

@FindMeinBahrain

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@Bahrain /iWonder

Banagas

Bahrain International Circuit

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Sunset view of Manama new financial area from Arcapita Bank at Bahrain Bay.

iWonder

Maybe small in size, but pioneer in the region… _ Bahrain pioneered education in the Gulf region opening the first public university for men in 1919 and the first for women ten years later. _ Bahrain was the first country to discover oil in the GCC in 1932 and was also the first to initiate its diversification and industrialisation processes in the 70s. _ Bahrain workforce is recognised as the best trained of the Arab World. _ Out of 185 countries, Bahrain ranked 45th in the “Ease of Doing Business” yearly report of the World Bank in 2013. _ In 2004, Bahrain became the first country in the Middle East to host a Formula One World Championship Grand Prix. The 2013 race, held in April, was the Kingdom’s ninth Grand Prix. The country is due to host the race until at least 2016.

_ At the forefront of women empowering and equal rights Bahrain´s Shura Council member Alice Samaan became the first woman to chair a parliamentary session in the Arab World. Bahrain was also the first country to allow women to vote and run in Parliamentary Elections in the GCC and the first “Khaleeji” woman appointed Ambassador was a Bahraini. _ Islamic Finance was nurtured in Bahrain and extended from there worldwide. The country is today one of the top Islamic Finance centres of the world and the architect of some of the most famous Islamic finance products. _ ALBA (Aluminium Bahrain) is the largest aluminium smelter of the Middle East and one of the top aluminium exporters of the world. @

@FindMeinBahrain

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@Bahrain /iCountry Coat of Arms of Bahrain

COUNTRY NAME

Kingdom of Bahrain LOCAL NAME Al Bahrain or Mamlakat al Bahrayn

Grand Mosque in Adliya, Juffair >

NATIONAL SYMBOLS

LOCATION & GEOGRAPHY

FLAG

LOCATION Bahrain is a small island located in the Persian Sea. The island is connected in the East to the mainland Saudi Arabia through King Fahd Causeway, a four lane 25 kms succession of roads and bridges built in at a cost of roughly USD800. Qatar is only around 30 kilometers away and there is also an advanced project to build the so-called “Friendship Bridge” that will connect the two countries before 2022, when Qatar will host the football World Cup. Iran is located to the West at the other end of the Persian sea at around 1,575 kilometers.

AREA It is an archipielago of 33 islands that cover a total area of 750 sq km. The main island is Bahrain which is the most populated and connected to the largest other islands Um al Nassaum, Muharrab and Sitra by bridges.

COASTLINE 161 kms TERRAIN Low desert terrain with the highest point of the island Jebel Al-Dukhan or Mountain of Smoke located at the south of the island and reaching 134 m/440ft and popular for camping at winter time.

WEATHER Desert temperature with hot summers that can reach 50ºC and mild winters with temperatures that can go down to 10ºC. The best time of the year to travel there is during the months of March and April.

CAPITAL Manama PROVINCES Bahrain is divided in 13 provinces and 12 Municipalities that include Muharraq, Manama, Northern Region, Western Region, Central Region, Rifa and Southern Region, Hawar Islands, Jidd Haffs, Hedd, Sitra, Isa Town and Hamad Town.

MAIN CITIES Manama, Muharraq, Sitra and Isa Town.

It is divided in two colours, white and red separated by a succession of five triangles imitating a hacksaw edge and represents the five pillars of Islam.

EMBLEM Coat of Arms of Bahrain First designed by Charles Belgrave, a British governor of Bahrain in 1932

NATIONAL DAY December, 16th. Celebrating the independence from Great Britain in 1971

NATIONAL ANTHEM Our Bahrain (Bahrainona) Our Bahrain, Our King, A symbol of Harmony Its constitution is high in the place and position Its charter follows the Shari´a, Arabism and the values Long live the Kingdom of Bahrain!

Country of nobles, Cradle of peace Its constitution is high in the place and position Its charter follows the Shari´a, Arabism and the values Long live the Kingdom of Bahrain!

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iCountry Banagas British Prime Minister, David Cameron and Bahrain Crown Prince Salman bin Hamad bin Isa

PEOPLE POPULATION 1,28 million of which 584,688 are bahrainis and

Diplomatic Area, Manama

NATURAL RESOURCES MINERALS Oil & Gas WILDLIFE Rich in fish and amphibians as well as birds.

Hawar Islands is one of the world recognized places for the abundance of migratory seabirds. Gazelles and other 17 species of mammals are found in Bahrain.

the rest non nationals. The majority of the population of Bahrain is between the ages of 20 to 50 years old.

POPULATION BY REGION Manama (capital): 153 thousands and Muharraq: 91 thousands.

POPULATION GROWTH RATE 2,6% RELIGION Muslim (Shia and Sunni) 81.2%, Christian 9%, other 9.8% (2001 census) LANGUAGE Arabic is the official language of Bahrain. English is commonly used especially in business environments and is the compulsory second language at school. Urdu, Farsi are also spoken by the foreign working population of Bahrain.

LITERACY 95% of the population.

UNEMPLOYMENT RATE 3,8 percent

@FindMeinBahrain

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@Bahrain /iCountry Sheikh Issa bin Salman Al Khalifa, the first Emir of Bahrain from 1961 until he passed away in 1999.

HRH King Hamad bin Isa Al-Khalifa, King of Bahrain since 1999

GOVERNMENT

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EXECUTIVE BRANCH

GOVERNMENT TYPE Constitutional monarchy where the monarchy is

HEAD OF STATE King Hamad bin Isa Al-Khalifa

hereditary and the prime minister and cabinet are appointed by the king.

The parliament consists of 80 members equally formed by appointed members (shura council) and elected members (chamber of deputies).

CONSTITUTION Adopted on 14th February 2002.

LEGISLATURE The National Assembly consists of the Chamber of Deputies with 40 elected members, and the Shura Council with 40 members appointed by the king.

LEGAL SYSTEM A mixed legal system combining Islamic law and English common law.

ELECTIONS Universal suffrage at 20 years of age although there is a draft law to lower the age at 18 years. The last general elections took place in 2010 although special elections were held on September 2011 to fill the 18 seats left by the withdrawal from the Parliament of the members of Al Wefaq party. Four women were elected to the Council of Representatives, the largest number of women in such position in the history of Bahrain. Next elections are scheduled for 2014.

who succeeded Sheikh Isa (ruler since 1961) in 1999. His son, Prince Salman bin Hamad Al-Khalifa (born 21 October 1969) is the crown prince and successor to the throne. He is also the deputy Supreme Commander of the Bahrain Defence Force.

HEAD OF GOVERNMENT Prime Minister Khalifa bin Salman Al-Khalifa, since 1971 and one of the world´s longest serving prime ministers.

JUDICIAL BRANCH High Civil Appeals Court POLITICAL PARTIES Political parties are

prohibited but political societies were legalized in 2001. The largest legal opposition group is the Shia based movement al-Wefaq National Islamic Society.

iCountry Prime Minister and Head of the Government of Bahrain Khalifa bin Salman Al-Khalifa, since 1971

GDP GDP (PURCHASING POWER PARITY) $28 billion (2012 est.)

GDP GROWTH 3,9% (2012 est.) – 5,8% (2013 est.)

GDP PER CAPITA $24,200 (2012 est.)

GDP BY SECTOR Industry 50%; services 49% and agriculture

0,4%

BUDGET & MONETARY INDICATORS REVENUES $8.466 billion EXPENDITURES $8.911 billion (2012 est.)

DEFICIT -1.7% of GDP (2012 est.)

EXTERNAL DEBT 16,7 billion (2012 est.)

PUBLIC DEBT 54% of GDP (2012 est.)

INFLATION RATE 2,7% (2012 est.)

INTERNATIONAL RESERVES $4.8 billion (2012 est.)

ELECTRICITY, OIL & GAS CRUDE OIL RESERVES 107.2 million bbl (1 January 2013 es) OIL PRODUCTION 192,800 bbl/day (2012 est.)

NATURAL GAS RESERVES 92.03 billion cu m (1 January 2012 es) NATURAL GAS PRODUCTION 12.58 billion cu m (2010 est.)

ELECTRICITY PRODUCTION 13.16 billion kWh (2011 est.)

ELECTRICITY CONSUMPTION 12.97 billion kWh (2011 est.)

Its members of the parliament resigned in 2011 due to the government repression of the uprising and where replaced by independents in a specially orchestrated elections.

INTERNATIONAL AFFILIATIONS ABEDA, AFESD, AMF, CAEU, CICA, FAO, G-77, GCC, IAEA, IBRD, ICAO, ICC (national committees), ICRM, IDA, IDB, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM (observer), IPU, ISO, ITSO, ITU, ITUC (NGOs), LAS, MIGA, NAM, OAPEC, OIC, OPCW, PCA, UN, UNCTAD, UNESCO, UNIDO, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO

COMMERCIAL BALANCE TOTAL EXPORTS $21.3 billion (2012 est) MAIN EXPORTED PRODUCTS Petroleum and petroleum products,

aluminium and textiles MAIN EXPORTS DESTINATIONS Saudi Arabia 3.3%, UAE 2.2%,

Japan 2%, Qatar 1.9% (2011) TOTAL IMPORTS $15.00 billion (2012 est.)

MAIN IMPORTED PRODUCTS Crude oil, machinery, chemicals MAIN IMPORTS SOURCES Saudi Arabia 28.2%, US 10.5%, China 7.6%, Brazil 6%, India 5.7%, Germany 4.8%, Japan 4.1% (2011) INDUSTRIES Petroleum processing and refining; aluminium smelting; offshore and Islamic banking and insurance, ship repairing and tourism.

Sources CIA Worldfact book, Economist Intelligence Unit, World Bank, IMF, Government of Bahrain and Wikipedia @FindMeinBahrain

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@Bahrain /iHistory Pearl divers from the time Bahrain was one of the pearling capitals of the world. MOC

Cartier visit to Bahrain. MOC

The strategic geographical location of Bahrain in the centre of the Persian / Arabian Gulf has confronted civilisations for over 6,000 years seeking for better trading routes. Bahrain, –“two seas” in Arabic- was known as Dilmum by the Sumerian or Tylos by the Greeks. Sumerians, Assyrians and later Portuguese, Persians and British used the islands as a centre of trade and an important hub of the commerce between India and the Arab region. It was also well known for its buoyant pearling industry that influenced further trade. It is precisely the historic influence of traders in Bahrain what has shaped the personality of Bahrainis, known for their hospitality, trading skills and cosmopolitanism compared to its neighbours. The country was controlled by Portugal during the 16th century and intermittently by the Persians during the 17th and 18th Century.

THE ARRIVAL OF AL KHALIFA The current ruling family of Bahrain, the Al-Khalifa, arrived at Bahrain as part of a tribe from Kuwait around the beginning of the XIX Century. They expelled the Persians and took over the country. One hundred years later, pressure from constant invasions led the Al Khalifa tribe to sign a treaty with Great Britain and in 1861 Bahrain became a protectorate of the British Empire.

After over one century of British domination Bahrain became an independent country in 1971, when Britain withdrew from the region. When it gained independence, Bahrain joined the United Nations and other international organisations including the Arab League. During the protectorate Bahrain culture flourished and local trading families started prosperous business that contributed to the creation of the family conglomerates that are still in operations today.

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Bapco Refinery Guards. BAPCO

THE DISCOVERY OF OIL Under the British rule Bahrain, historically ahead of the region in many respects, also built the first public university for boys in 1919 and for girls ten years later. It was the first country in the region to discover oil in 1932.

The country benefited greatly from the 70´s oil boom but realised early of its limited and declining hydrocarbons reserves. A policy towards diversification of the economy was set to move away the country’s economic dependence on oil turning it into petroleum processing and refining.

It set the beginning of the industrialisation process of Bahrain. Following its diversification efforts, Bahrain also turned itself into the financial hub of the Arab World snatching the top spot from Beirut which had been the financial centre of the region but had succumbed during its prolonged civil war that spread throughout the 70s and 80s. Financial services contribute today to a large part of Bahrain’s GDP. However, the competition in the region is increasing rapidly with financial centres growing in most of the countries of the Gulf, mainly Dubai, presenting serious threats.

iHistory

IHISTORY TIMELINE 1861

1990-91

Bahrain becomes a British Protectorate

Bahrain joins forces to defend Kuwait during the Gulf war

1920s Establishment of a formal government structure and bureaucracy

1994 A series of demonstrations demanding social

1930

and political reforms swept the country.

Bahrain Petroleum Company (BAPCO) starts operations under the commands of the Standard Oil Company of California

Current Historical Context by EDB

1932 Discovery of Oil

1999 H.M. King Hamad bin Isa Al Khalifa became

Bahrain was the first country to discover oil in the region in 1932.

1935

King of Bahrain and set in motion what

BAPCO starts operations of its first refinery,

became a decade of reforms in the Kingdom

also the first built in the Gulf

2001 1961

National Action Charter published, setting

Sheikh Isa bin Salman al Khalifa becomes the

out the key principles for the government of

new Emir of Bahrain.

Bahrain, including: 路 The establishment of a constitutional

1971

monarchy

Bahrain becomes an independent country

路 Parliamentary elections

from Britain.

路 Universal suffrage for men and women

1971

2001

Aluminium Bahrain (ALBA), the largest

National Action Charter was ratified by a

aluminium smelter of the region, started

national, popular referendum with 98.4

operations.

percent of voters in favour

1973

2001

Emir enacts a new constitution

The Supreme Council for Women was established

1975 The Emir revokes the Constitution approved

2002

only two years before.

The EDB was established under the chairmanship of HRH Prince Salman bin

1981

Hamad Al Khalifa, the Crown Prince

Bahrain acts as a founding member of the Gulf Cooperation Council (GCC).

2002 Liberalisation of the telecommunications

1986

sector and establishment of the

The Saudi - Bahrain causeway was inaugurated

Telecommunications Regulatory Authority

linking the island to the continent.

(TRA)

@FindMeinBahrain

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@Bahrain /iHistory ALBA´s output favored the creation of a new set of downstream industry that currently consumes half of ALBA´s total production.

Aluminium Bahrain (ALBA) is the largest aluminium smelter of the region and one of the top five globally.

Bahrain has effectively orchestrated major achievements in its history given the small size of its territory and its insignificance related to big neighbours like Saudi Arabia, the world’s number one oil exporter and a country as big as the five largest countries of the EU together with a population of 27 million people. Thus, diplomacy in an archipelago of hardly 1,3 million people but located strategically in the heart of the Gulf has been the key element in its foreign relations over the years.

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The gas industry of Bahrain. Banagas

ON THE DIVERSIFICATION ROAD

POLITICAL CHALLENGES

Ahead of its neighbours the first aluminium smelter of the region, ALBA (Aluminium Bahrain) started operations in 1971 to become over the years one of the largest aluminium smelters of the world. The creation of ALBA prompted the birth and growth of a new range of industries that used aluminium as feedstock. Sideline, the petrochemical industry was booming together with the port facilities of Bahrain, especially the ship repairing industry. Location has also favoured the expansion of the country into logistics leveraging the island natural conditions.

In 1981 Bahrain became a founding member of the Gulf Cooperation Council (GCC) and in 2006 the BahrainUSA Free Trade Agreement (FTA) entered into force with Bahrain becoming the first country in the GCC in doing so.

In 1986 a bridge changed dramatically the island’s potential when the Bahraini-Saudi causeway was inaugurated and opened a new world of opportunities.

The 25 kilometres causeway is the only link of Bahrain to mainland and connects the island with the oil-rich Eastern region of Saudi Arabia, the biggest market of the Arab world.

In 1994 a series of demonstrations demanding an increase in democracy and greater social reforms swept the country.

The sectarian division of the population between the ruling minority, the Sunnis, and the rest two thirds of the population, the Shiites, emerged and continued until 1999 when the Emir of Bahrain, Sheikh Isa bin Salman al-Khalifa, died after almost 40 years in power. His son, Sheikh Hamad bin Isa al-Khalifa inherited the conflict but soon promoted a series of reforms that included an amnesty to political prisoners and the return of the exile.

The 14th of February of 2001, 98 percent of Bahrainis voted “yes” to the National Action Chapter, which proclaimed Bahrain as a Constitutional Monarchy. In 2002 the King promulgated a new Constitution following the failed attempt of 1973 that was approved just after independence from Great Britain and revoked by the Emir only two years after it was adopted. The new Constitution provided the establishment of a bicameral parliament with an upper house (Shura Council), composed of 40 members appointed directly by the king with power to block legislation and a lower house (Council of representatives) composed of the same number of members and elected

iHistory

2003

2008

Bahrain Tender Board established to ensure

H.M. King Hamad launched Bahrain’s Vision

transparency, fairness and equal opportunity

2030 and the National Economic Strategy (NES)

across all public sector and government transactions

2009 United Nations Development Programme

2004

(UNDP) ranked Bahrain fourth of 155

Appointment of the first woman government

countries worldwide for its efforts in building

minister - Dr Nada Haffadh, as Health Minister

the capabilities of women

2004

2009

Bahrain launched a programme of labour

Bahrain became the first Gulf state to allow

market reforms, including the creation of the

foreign workers to move freely between

Labour Market Regulatory Authority (LMRA)

jobs without the consent of their previous

and Tamkeen, Bahrain’s independent authority,

employer

which formulates strategic and operational plans to invest in Bahraini employability (formerly the

2009

Labour Fund)

The National Health Regulatory Authority (NHRA) established

BAPCO refinery was the first to open in the region and remains one of the largest with further expansion plans.

2004 Free Trade Agreement with the USA was

2009

signed

The $360m Khalifa Bin Salman Port (KBSP) started operations

2005 A programme of education and training

2010

reforms launched leading to the creation

His Royal Highness Prime Minister Prince

of the Bahrain Polytechnic, the Quality

Khalifa bin Salman Al Khalifa was presented

Assurance Agency (QAA) and Bahrain Teachers

with the Millennium Development Goals

College

award in recognition of his crucial role in engineering Bahrain’s development prowess.

2005

This is the Premier’s third top UN honour

Shura Council member Alice Samaan became

– already winner of the UN-Habitat Scroll

the first woman to chair a parliamentary

of Honour and the UNESCO Avicenna Gold

session in the Arab world

Medal in recognition of his efforts to promote heritage and culture

2005 Bahrain became the first country in the

2010

Middle East to introduce smart cards

Bahrain became one of only three countries to receive a UN e-Government special award for

2006

making significant progress in improving its

Establishment of a single, independent

e-service and strengthening its service delivery

regulator of the financial system, the Central

through e-participation

Bank of Bahrain (CBB)

2010

2006

Former US President Bill Clinton stresses

The Bahrain Mumtalakat Holding Company

the pivotal role of His Royal Highness Prince

(Mumtalakat) was established

Salman bin Hamad Al Khalifa, Crown Prince and Chairman of the EDB, in promoting

@FindMeinBahrain

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@Bahrain /iHistory King Fahd Causeway, a 25 kms bridge that links Bahrain with the oil rich Saudi Eastern Provice

Khalifa bin Salman Port

City Center Mall

through universal suffrage. The opposition, that had previously supported the National Chapter, perceived the creation of an upper house as a betrayal to the agreements sealed with the King and promoted a boycott to the 2002 parliamentary elections. The results showed that 50 percent of the voters of Bahrain elected a parliament with a leading Sunni majority and a Shiite-led minority opposition. The following parliamentary elections in 2006 and 2010 showed similar results with the Shiite-led opposition failing to secure a majority. In 2008 Bahrain released a roadmap of the reforms and developments needed in the country towards 2030 to improve the economy and living standards: The Economic Vision 2030.

The strategy included further need of diversification, greater role of the private sector and the need of infrastructure developments.

The Arab Spring that erupted in Tunisia in 2011 and spread all over the region hit the already divided Bahrain harder than any other country in the region.

Young Bahrainis took the streets demanding a better distribution of wealth and a greater participation of the Shiite population majority in strategic government 18

positions. The escalation of the protests was translated into a brutalisation of the repression and the arrival of Saudi troops. Bahrain is also the host country of the US Navy’s Fifth Fleet. Following the government crackdown, the Al Wefaq Party, the biggest opposition party, withdraw from its 18 parliamentary seats and a special election was held in 2011. Most of the seats were covered by Independents.

The government of Bahrain maintains that the uprisings were promoted and supported by Iran in an effort to divide the country into Sunnis and Shiites, a division that never existed in the past.

The repression led to a round of negotiations, the National Dialogue, between the different factions of Bahrain’s political scenario with the Al-Khalifa government represented by the Crown Prince Salman bin Hamad bin Isa Al Khalifa. The Bahrain Independent Commission of Inquiry (BICI) was also launched by the King to investigate the police behaviour and brutality during the confrontations in order to distil responsibilities.

Despite all efforts, the opposition claims reforms are still vein and taking too long to be implemented and the uprisings continue although limited and scattered over the villages.

The political crisis and the global financial turndown have had an important impact in Bahrain’s economy that nevertheless has started to recover over 2013 with the expansion of its industry and a number of infrastructure projects coming on line. Politically, an imminent solution seems impossible to reach while demands of the sides seem to be irreconcilable.

iHistory

Bahrain National Dialogue

Bahrain as a key centre for balanced economic

the International Committee of the Red Cross

openness. Speaking at the Clinton Global

to detention centres. Review and reform of key

Initiative, he also hailed Bahrain’s economic

laws, including those on freedom of speech,

achievements

and the creation of a Special Investigations

2010

Unit to determine government accountability regarding key issues of concern

The Salman Industrial City opened, encompassing several key infrastructure

2013

projects in the Hidd area such as the Bahrain

The annual Index of Economic Freedom,

International Investment Park (BIIP), Bahrain

published by The Heritage Foundation and the

Investment Wharf (BIW) and Hidd industrial

Wall Street Journal, again ranked Bahrain

Zone

the MENA region’s most economically free

2011

country, ranked 1st out of 15 countries

National Dialogue was carried out following a

2013

period of unrest. The dialogue concluded with

The National Dialogue entered its second

several recommendations on the economic

phase with the aim of bringing together

front, including the importance of further

the various segments of Bahraini society to

diversifying the economy, encouraging the

further reform in the country and to reach a

role of the private sector, the potential for

consensus between all participants.

redirecting subsidies, the potential for levying indirect taxes and corporate taxes, resolving the issue of high growth of guest workers, supporting innovation programmes

2012 The Royal Bahrain Hospital was inaugurated by the Minister of Health, His Excellency, Sadiq Al-Shehabi

2012 The Government issued its second interim report on the implementation of the recommendations put forward by the Bahrain Independent Commission of Inquiry (BICI) on November 21st 2012. Implementation so far has included: · Wide and deep reform of the security forces, incorporating human rights and legal training for officers, led by international policing experts, John Timoney I and John Yates and the creation of an Independent Ombudsman · The establishment of a fully independent National Human Rights Institution, run in line with the Paris Principles, alongside access for

@FindMeinBahrain

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@Bahrain /iTraveller

Gulf Air is the national carrier of Bahrain.

BEFORE AND AFTER YOU ARRIVE Visit visa can be issued on arrival at Bahrain International Airport for a small fee for most western nationalities. The Visit eVisa allows you to stay in Bahrain for 2 weeks.

An extension can be obtained for another 2 weeks by visiting NPRA in Bahrain. The Visit eVisa can only be used once, for a single entry. Passports must be valid for the length of your stay and six months prior to your arrival in Bahrain.

For more information please check: http://www.evisa.gov.bh/VisaBhr3En.html

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iTraveller

Driving in Manama is a challenge but far more civilise than in neighbouring Saudi Arabia.

GETTING THERE AND AROUND

BY PLANE Bahrain International Airport is well connected worldwide and will soon be expanded. It is only 12 kilometres away of Manama City, roughly 20 minutes. It services both regional and international destinations with all the main global airlines touching port there.

The airport also serves as a Gulf base for several international airlines including some cargo carriers and charter flight operators.

Bahrain International Airport contact details http://bahrainairport.com/ AIRPORT FLIGHT INFORMATION +973 17339339 The national carrier is Gulf Air, the first airline to be set up in the Gulf Region recently reshuffled and currently being re-organised.

Gulf Air Contact Details www.gulfair.com CALL CENTRE +973 17373737

Bahraini style London Cabs.

BY SEA

TRAVELLING INSIDE

Passenger ferries cross the Gulf Sea from Bahrain to Iran in 16 hours through the two main ports of Bahrain: Mina Salman Port and Sitra.

The most popular way of transportation in Bahrain is the taxi. And there are plenty of them. There is even a Bahraini version of the famous London black cabs. However, prices are high and usually higher for inexperienced foreigners.

Always ask for the meter. Manama Bus Station is located at the Government Avenue, Diplomatic Area, with busses that connect all main cities of Bahrain at a fairly low cost.

However schedule is unclear and timing unpredictable. For long stays find a good taxi driver and negotiate a monthly/ weekly fee or directly rent a car. Prices are fair and petrol is extremely cheap. In a couple of days you will get used to the main arteries of the city and if you get lost you just have to ask anyone in the street. You would be greatly surprised by Bahraini hospitality.

BY ROAD The Saudi-Bahrain Causeway is the only link of Bahrain to the continent. There is a double custom passing and congestions are fairly common, especially from Wednesday to Saturdays, which includes the Saudi and Bahraini weekends. If you drive to Bahrain from Saudi Arabia by road make sure you have all the needed documentation required by the Saudi Authorities, often quite strict. Buses have a separate and more expedited line.

@FindMeinBahrain

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@Bahrain /iTraveller

Bahraini Dinar coins

MONEY MATTERS CURRENCY: BAHRAINI DINAR (BHD) = 1,000 FILS. The dinar is pegged to the US dollar at a rate of BD0.376:US$1. Coins are available in 5, 10, 25, 50, 100 and 500 fils, and banknotes come in ½, 1, 5, 10 and 20 dinars.

CURRENCY EXCHANGE Currency exchange services abound in Bahrain. You can change your money at the airport on arrival, at the banks and hotels or in the small currency exchange offices that are widespread across Manama and have a much better rate.

BANKING HOURS AND CREDIT CARDS Banks in Bahrain open from 7.30 to 15.00 from Sunday to Thursday. ATMs are widespread across Bahrain and credit cards are normally accepted.

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iTraveller

Bahrain has one of the highest rates of internet penetration in the region.

TELECOMMUNICATIONS INTERNET PHONE

INTERNET COUNTRY CODE .bh INTERNET HOSTS 47,427 (2,012)

INTERNATIONAL DIALLING CODE +973

INTERNET USERS 961,228 or 77% of the population (2012)

CITY CODE 1 Manama

FACEBOOK USERS 390,000 (2012)

FIXED LINES 276,500 (2011)

TWITTER USERS 80,000 (2012)

MOBILE LINES 1.694 million (2011) MOBILE PENETRATION 133% MOBILE OPERATORS

Batelco, the national operator Zain, part of Zain Kuwait Viva, part of Saudi Telecom Company (STC)

EMERGENCY NUMBERS AND NUMBERS OF INTEREST DIRECTORY INFORMATION 181 EMERGENCY 112 NATIONAL EMERGENCY CALL CENTER 999 Firemen, police and ambulance TRAFFIC POLICE 199

WEBS OF REFERENCE travel.nationalgeographic.com/travel/countries/bahrain-facts www.cia.gov/library/publications/the-world-factbook/geos/ ba.html en.wikipedia.org/wiki/Bahrain www.cbb.gov.bh www.bahrainedb.com www.bahrain.com www.internetworldstats.com/me/bh.htm www.tradingeconomics.com/bahrain www.imf.org/external/country/bhr/ http://web.worldbank.org http://www.imf.org/external/country/bhr

ELECTRICITY AND PLUG-INS 220V/50Hz UK plug

@FindMeinBahrain

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@Bahrain /iTraveller

BBK is the one of the largest commercial banks of Bahrain.

TIME 3 hours ahead of GMT

PUBLIC HOLIDAYS NEW YEAR’S DAY January1st PROPHET MOHAMMED’S BIRTHDAY January 24th LABOUR DAY May 1st EID AL-FITR August 7th EID AL-ADHA October 14th ISLAMIC NEW YEAR (MUHARRAM) November 4th ASHURA November 12th NATIONAL DAY December 17th

BUSINESS WORKING HOURS Generally Sunday to Thursday from 8:00 to 16:00. Weekend runs from Friday to Saturday. Banks open from 07:30 to 14:00 although some branches open in the afternoon.

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iTraveller

Arabic Tea and dates are often served at business meetings, conferences and exhibitions.

BUSINESS ETIQUETTE AND SOCIAL CONVENTIONS The best asset of Bahrain is the Bahrainis.

They are well-educated and trained business oriented people well known for their charisma and hospitality. Although more liberalised than its neighbouring countries, Bahrain is above all a Muslim country and Bahrainis are religious people.

BUSINESS MEETINGS AND TIPS English is commonly spoken in Bahrain.

In business meetings punctuality doesn’t have the Western meaning, so you might face delays. Be prepared to wait. It is always advisable to confirm meetings in advance.

Dates and Arabic tea are often served during business meetings. To prevent the tea boy from continuously pouring more coffee in your cup, move your cup sideways, which is sign that you have finished it.

Unlike neighbouring countries, women are an active part of the business and politics communities at all levels.

DRESS CODE The traditional costume for men, which consist of a thobe or long white robe bottomed up to neck and a white squared scarf covering their heads, is used at official happenings and important occasions. But suit and tie are increasingly common. Women wear abayas or the long black dress from neck to toe and head cover with a veil, at least in public places and in official meetings.

However, their clothing is also migrating into a more westernised style with trousers or long skirts, long-sleeved blouses and headscarf. For foreigners, suit is advisable for business meetings when it comes to men. For women the recommendation is to always wear modest and respectful attire.

RAMADAN Ramadan is the month of fasting for Muslims and it is illegal for a foreigner to eat, drink or smoke in public during that time.

@FindMeinBahrain

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@Bahrain /iTraveller

Welcome!

BASIC VOCABULARY GREETINGS Hello

Goodbye Goodbye Good Morning Good Afternoon Good Night Welcome

as-salam alaykum (when you are the first to greet) ma`salama (when you leave) alla ysalmak (when you stay) sabah ala-kheir masa`al-kheir tisbah ala-kheir ahlan wa shalan / marhaba

BASICS Yes aywa / na´am No la Maybe mumkin Please min fadlak / min fadliki (M/F) Thank you shukran You are welcome afwan Excuse me lo tismah Ok tayib No problem mafi mushkila Let´s go Yallah Good Willing (hopefully) inshallah

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iTraveller

PRONOUM I ana You inta/inti (m/f) He huwa She hiya We nahnu you untum/inti (m/f) They uhum

WEEKDAYS Monday Tuesday Wednesday Thursday Friday Saturday Sunday

yom al ithnayn yom al-thalatha yom al-arba´ yom al-khamis yom al-jama´a yom as-sabt yom al-had

NUMBERS Zero sifr One Wahid Two ithnin Three thlatha Four arba´a Five khamsa Six sitta Seven sab´a Eight thimania Nine tis´a Ten ashra

QUESTIONS What?

Shuw? Eesh?

Why? Laysh?

Who? Meen?

When? Mata?

Where? Wayn?

How? Kayf?

May I? Mumkin Could You please…?

Mumkin min fadhlak?

Where is the…?

Wayn al…?

What does it mean?

Esh yanni?

What time is it?

Sa´kam?

It is…

Sa´(time) How Much…?

Bikaam

SMALL TALK How are you?

Fine, thanks

kay fahlak / kay fahlik? (M/F) zein al-hamdulillah

Who cares? kalli valli What´s your name?

Esh ismak?/Esh ismik? (M/F) My name is ____ ismi ___ I understand / Ana fahim/ana fahma (M/F) I don´t understand Ana mu fa-him / ana mu

fahhma (M/F) or la Mu fahim Do you speak English? titkallam inglizi?

French fransawi I don´t speak Arabic ma-atakallam arabi Where are you from?

Inta min-wayn / Inti min-wayn?

(M/F) I´m from Anaa min ____ Europe Oropa America Ameriki India Al hindi I´m sick Ana marrriedh I like Ana ahebb I don´t like Ana ma ahehabb I want Ana Areed

DIRECTIONS above or up fo´gh Behind wara Here hni in front of jeddam Next to iyyaam Opposite mjabel straight seede There hnak to the left ala yassar To the right ala yameen

@FindMeinBahrain

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@Bahrain /iTraveller

Zain, leading regional mobile operator, has a strong presence in Bahrain.

MICE CALENDAR 01/08/2013

07/10/2013

BAHRAIN SHOPPING FESTIVAL 2013

BAHRAIN HOUSING CONFERENCE & EXPO 2013

09/08/2013 SUMMER FESTIVAL 2013

Summer of Joy Festival brings to you entertainment full of Musical nights, cultural & educational shows and returning back with many surprises this year is “Nakhool” the Mascot the descendant of the country of a million of palm trees.

11/08/2013

THE BAHRAIN-INDIA EXHIBITION 2013

This event provides a unique platform to bring together trading businesses from India & Bahrain in different Sectors.

29/10/2013 CAREER EXPO 2013

20TH AL AYAM CULTURAL FAIR 2013

The exhibition aims to provide academic and professional guidance to students in high school, college and vocational institutes. It will also provide an opportunity for jobseekers to apply for jobs to companies and several institutions in different sectors

30/09/2013

19/11/2013

MIDDLE EAST PROCESS ENGINEERING CONFERENCE & EXHIBITION (MEPEC) 2013

JEWELLERY ARABIA 2013

SUMMER ACTIVITIES FOR YOUTH & SPORTS ORGANIZATION 2013

Summer Activities for Youth & Sports Organization 2013

15/09/2013

This events provides a platform in all aspects of process engineering issues related to the process engineering for the oil, gas and petrochemical industry 28

22/10/2013

22nd Middle East International Jewellery & Watch Exhibition is the largest & prestigious exhibition in the Middle East

iTraveller

03/12/2013

17/03/2014

06/05/2014

BAHRAIN INTERNATIONAL DESIGN WEEK 2013

ARABIAN MEP (BAHRAIN EDITION) 2014

GULF BID 2014

This event will showcase & demonstrate the most advanced equipment’s & technology in the MEP,HVAC,Insulation & Refrigeration sectors.

This specialist event for the Northern Gulf’s Construction Industry showcases the latest products, cutting-edge technologies & services from reputable Local, regional & International Companies bringing together the leading suppliers face-toface with clients and buyers.

This exhibition will showcase Jewellery & Fashion, Interior Design & Décor and graphic design.

10/12/2013 MEET ICT 2013

A platform for both International & Local delegates to learn & improve their networking & business in the ICT industry. The event will also feature Conferences, Workshops, Business Matching Sessions & MEET ICT Excellence Awards.

21/01/2014 AUTUMN FAIR 2014

27th Bahrain Consumer Products’ Fair

04/02/2014 7TH GULF INTERNATIONAL INDUSTRY FAIR 2014

Under the Patronage of Bahrain’s Prime Minister, H.R.H Prince Khalifa bin Salman Al Khalifa ,this event covers key industrial segments including aluminum, Steel, Alloys, metal, automation, metrology, energy, logistics, manufacturing & Industrial Security & Safety.

17/03/2014 11TH PROFESSIONAL DEVELOPMENT CONFERENCE & EXHIBITION

The events aims to foster the technical, scientific, managerial and ethical knowledge, skills and competency of safety, health and environment (SHE) professionals for the protection of people, property and the environment

27/03/2014 16TH INTERNATIONAL BOOK FAIR 2014

27/03/2014 WEDDING & FASHION ARABIA 2014

15/04/2014 6TH FOOD & HOSPITALITY EXPO 2014

27/02/2014

Under the patronage of His Royal Highness Prince Khalifa bin Salman Al Khalifa, Prime Minister of the Kingdom of Bahrain, this expo provides unparalleled prospects for professionals from the food & hospitality industry.

BAHRAIN INTERNATIONAL GARDEN SHOW 2014

15/04/2014

The Kingdom of Bahrain’s biggest flower, lifestyle & garden show with a very successful 45th year history.

10/03/2014 GEO 2014

The 11th Middle East Geosciences Conference and Exhibition will have something for every interest in the future development of the Middle East’s hydrocarbon resources.

06/05/2014 GULF INTERIORS 2014

This show provides a unique platform for Local and International retailers, interior designers, architects & contractors to showcase their latest luxury & designer products & innovations.

19/05/2014 MIDDLE EAST PETROTECH 2014

9th Middle East Refining and Petrochemicals Conference & Exhibition

18/11/2014 JEWELLERY ARABIA 2014

23st Middle East International Jewellery & Watch Exhibition held under the patronage of HRH Prince Khalifa bin Salman Al Khalifa, Prime Minister of the Kingdom of Bahrain, Jewellery Arabia is the largest & prestigious exhibition in the Middle East

4TH HEALTH & WELLNESS BAHRAIN EXPO 2014

Under the Patronage of H.E. Mr. Sadiq Bin Abdul Karim Al Shehabi, Minister of Health of the Kingdom of Bahrain, this expo will be your first step on the path to a healthier lifestyle

–––––––– For more information Please visit Bahrain Exhibition and Convention Authority (BECA) www.bahrainexhibitions.com

@FindMeinBahrain

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@Bahrain /imap National capital Town, village Highway

Arabian/Persian Gulf

Main road Secondary road Track

AL MUHARRAQ Busaiteen Al Muharraq

Built-up area Sabkha

A l Ma n a Barbar

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Fah

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Diraz

Budaiya s ew

Jidd Hafs

Jiddah

Khawr al Qulay’ah

Um Al Naasan

-ira t a n J a z b-i S a lih Na

Saar

CENTRAL

Al Jasra

SITRAH

Hamala

Dumistan Karzakkan Al Malikiyah Sadad

BAHRAIN Kazakhstan

Kyrgyz Georgia Gulf of Bahrain Uzbekistan Rep. Azerbaijan Armenia Turkmenistan Turkey Ra'sTajikistan Nawmah Syrian W E ST ER N Arab Ra's al Jaza'ir Rep. Afghanistan el Iraq Jordan Iran

Kuwait

Ar Rifa' ash Sharqi Al Mazrowiah 'Awali

Pakistan

Bahrain

Qatar

United Arab Emirates

Eritrea

an

Ra's Zuwayyid Ra's Abu Jarjur

Jabal ad Dukhan

Mongolia AR RIFA'

30

4

6

2

4

10 km 6 mi

Dem.Peo Rep.of K

Ad Dur

R K

China

SOUTHERN

Ra's al Qurayn

Al Mamtalah

Ar Rumaythah

Nepal

Bahrain

Bhutan

Ra's al Mamtalah

Qatar

Bangladesh Oman

8

Jaww

Hawar Islands

Ra's an Niqah

India

Myanmar

Hadd al Jamal

Durrat Al Bahrain

Rep. of Yemen

Lao P.D.R.

Thailand

Qassar Nun Halat Nun

Ethiopia

2

0

AND

Ra's al Barr

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0

Ra's Hayyan

Al 'Amar

Saudi Arabia

p. pt

Halat Umm al Bayd

'Askar

As Sakhir

Ra's Abu al Mawj Al Wasmiyah

aza

Al Ma'amir

Dar Kulaib Zallaq

Qassar-al Qulay'ah

Marquban

Russian Federation 'Ali ISA TOWN Ar Rifa' al Gharbi

AL HIDD

Al Jufayr

¸

'Isa' Town

SAUDI ARABIA

Jazirat al Muharraq

AL MANAMAH

Karbabad

¸

ay

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International Airport

Sri Lanka

ople’s Korea

Rep.of Korea

@Biz

A constitutional monarchy since 2002 with a bi-cameral Parliament, Bahrain is probably the best and most regulated country in the region and boasts a policy of zero taxation as a key pullfactor that encourages the growth of domestic and foreign direct investment. Despite the adversities, Bahrain´s reputation as a major strategically located trade centre and a regional financial hub remains intact with growth picking up again to normal levels. The country´s financial system robustness stands on four decades of operations with regional companies using Bahrain’s financial sector as a major source of funding. Its strategic geographical location with easy access to the $1 trillion GCC economies and remarkably to Saudi Arabia, the biggest consumer market of the Arab world, has granted Bahrain a natural commercial advantage over its neighbours.

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@FindMeinBahrain

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34

iIntro

Khalifa bin Salman Port (KBSP) operated

by APM Terminals opened in 2009

REINVENTING BAHRAIN

Bahrain is one of the freest country of the region economically and socially speaking and one of the best located for regional headquarters.

Bahrain, a group of islands that together cover an area of only 760 sq km, is as small as it is significant in the historical development of the Gulf Cooperation Council (GCC) region. It was the first to discover oil, the first to open a university for men and then for women, the first to industrialise the country, and one of the first to form a national assembly. It was as well the first country in the region to confront political instability in 2011 in the back of the Arab Spring that raised the flags of youth unemployment and housing problems, and demanded greater political participation. The small island struggled handling the relations between a Sunni led government and a large Shia-majority population with a well intended National Dialogue failing to deliver solutions and creating an ongoing political stalemate that prevented the economy and business confidence recovery. “The fact that we confronted a situation like this means that we can evolve into something better”, Khaled Al Zayani, CEO of Al Zayani Investments and a well-known local business tycoon told GGC. Pioneer in virtually everything within the Gulf region, Bahrain might as well become the first to introduce a new set of reforms towards more democracy in the GCC. “The implementation of the recommendations that came out of the country’s first National Consensus Dialogue began in October 2011. Both the purpose of establishing the Dialogue and its outcomes have directly promoted increased transparency and openness in government and where it was possible, political recommendations relating to these values were brought into effect immediately”, Sheikh Hussam bin Isa Al Khalifa, Head of the Prime Minister´s Court told GGC. “The aim of the National Dialogue was to build consensus about reforms among the approximately 300 participants, representing all segments of society. The reforms covered the key four policy areas: Political, Economic, Social, and Rights,” he explained.

@FindMeinBahrain

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Invest in Bahrain is one of the largest annual international conferences in Bahrain that promotes investment in the country. Last one celebrated was in October, 2012.

HARD TO FIGHT

Despite the adversities, Bahrain´s reputation as a major strategically located trade centre and a regional financial hub remains intact with growth picking up again to normal levels. The country´s financial system robustness stands on four decades of operations with regional companies using Bahrain’s financial sector as a major source of funding. Furthermore, Bahrain is a key regional fund manager player and a global centre for Islamic Banking with some of the most successful shariah compliant products developed in the tiny island. A constitutional monarchy since 2002 with a bi-cameral Parliament, the country is the best and most regulated in the region and boasts an inward investment policy of zero taxation. The legal framework in Bahrain is a key pull-factor that encourages the growth of domestic investment as well as foreign direct investment, by removing obstacles to the establishment of businesses and providing transparent and predictable company formation procedures and regulations. Home to regional headquarters of a number of multinational corporations, its strategic geographical location with easy access to the $1 trillion GCC economies and remarkably to Saudi Arabia, the biggest consumer market of the Arab world, has granted Bahrain a natural commercial advantage over its neighbours.

Unnaturally though but incredibly advantageous, Bahrain is connected to the oil rich Eastern region of Saudi Arabia through a 25 kms causeway over the sea and will be connected to Qatar through the “Friendship Bridge” by 2020. A regional initiative to provide the GCC countries with a common railway system will only reinforce Bahrain´s reputation as the gateway to the Gulf. Air connections are set to improve with the new expansion of the Bahrain International Airport (BIA) while APM Terminals, a new $300M port facility, was inaugurated in 2008. Logistics and industrial zones are expanding around the infrastructure exporting facilities supported by strategic free trade agreements. In 2006 Bahrain was the first country in the Arab world to sign a FTA with USA.

In 2008 the National Economic Vision, a revamped version of the old diversification strategy, was launched by King Hamad bin Isa Al Khalifa.

CRUDE OIL PRICES USD/BARREL 140 120 100 80 60 40 20 0 2008

2009

WTI spot price FOB 36

2010

2011

2012

Europe Brent spot price FOB

INTRO

CLUSTERING AN INDUSTRIAL BASE

As the first country to discover oil, it will also be the first to run out of it. Therefore a national strategy towards a broader diversification of the economy to reduce its dependence on crude oil revenues was adopted in the early stages of the oil boom throughout the 70´s. As a result Bahrain opened the first refinery of the region, BAPCO, and is home to Alba one of the largest aluminium smelters of the world. Downstream industries are growing in clusters around the natural feedstock contributing with an increasing share to the country´s GDP. However, Bahrain´s oil and gas sector still accounts for three quarters of government revenues, 60 percent of total exports and around 10 percent of GDP. Bahrain has proven oil reserves of around 100 billion bbl and produces around 45,000 barrels per day (bpd) from its only onshore field in central Bahrain, Awali.

In 2008 the “National Economic Vision 2030”, a revamped version of the old diversification strategy of the government, was launched

by King Hamad bin Isa Al Khalifa. The comprehensive future development plan for Bahrain outlined the path of economic reforms and investments with the ultimate aim of shifting from an oil-driven economy to a global, competitive economy with higher productivity and better wages. Vision 2030 was the result of a dialogue between the government and the private sector as well as international consultancies and bodies and was built around three guiding principles; sustainability, fairness and competitiveness. Bahrain´s Economic Development Board (EDB) chaired by Crown Prince Salman bin Hamad Al Khalifa and created in 2000 has been a key pillar to the country´s National Economic Strategy developing the roadmap to achieve the Vision.

Light manufacturing, logistics, ICT, education and training, and professional, industrial and financial services were defined as priorities. “Currently the Kingdom of Bahrain is undergoing a broad spectrum of economic reforms, including labour, education and health reforms with a focus on making the

REVENUE Description

Oil Revenue Future Generation Fund Oil & Gas Products Subsidies Net Oil Revenue Non Oil Revenue Grants Total Revenue

Budget 2012

Budget 2011

2,920,331,000 21,000,000 841,323,000 2,058,008,000 252,422,000 37,600,000 2,348,030,000

2,819,856,000 21,000,000 800,997,000 1,997,859,000 252,422,000 37,600,000 2,287,881,000

Budget 2012

Budget 2011

1,831,657,000 543,358,000 2,375,015,000 700,000,000 3,075,015,000

1,826,329,000 662,248,000 2,488,577,000 635,000,000 3,123,577,000

726,985,000

-835,696,000

EXPENDITURE Description

Recurrent Expenditure Government Subsidies Total Recurrent Expenditure Projects Expenditure Total Expenditure

Surplus / Deficit

@FindMeinBahrain

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Sheikh Hussam bin Isa Al Khalifa, Head of the Prime Minister´s Court

country more competitive, and supporting and motivating the private sector.

The sharp-end of these reforms is the articulation of an economic plan to 2030, which has the objective of achieving higher levels of productivity, and a knowledge based economy clustered around a number of strategic sectors”, Dr. Hassan Fakhro, Minister of Industry and Commerce told GGC.

LOST YEARS EFFECTS

In 2008 as the global recession erupted, Bahrain started to experience a weaker growth only to be aggravated with the uprisings in 2011. Rising expenditure in social investments and subsidies resulted in the increase of the country´s fiscal deficit as well as the downgrading of its sovereign bonds ratings. The International Monetary Fund (IMF) has urged Bahrain to cut spending to contain its government debt at 40 percent of GDP. With $27.1 billion nominal GDP at the end of 2012 according to data from the IMF, Bahrain has an outstanding debt of about $12 billion. “The cost of direct and indirect government subsidies alone is put at BD1.501bn in 2013 and BD1.583bn in 2014 while the central budget deficit is projected at BD662mn or 6.1% of GDP in 2013 rising to 6.6%, in 2014. Fiscal break-even oil price is projected at $122 in 2013 and $126 in 2014”, EDB projected in its 2012 economic report. Restructuring of the lost-making national carrier Gulf Air came to add financial pressure on top of the government sovereign wealth fund, Muntalakat, while real estate, major infrastructure and industrial projects and the whole privatisation process were put on hold. The transfer of Government assets to a commercially oriented holding company, in the form of Mumtalakat, will enable these assets to be managed more effectively.

Future privatization of these assets will come in accordance with the need and climate and on the basis of a commercial decision. When this happens, new funds will become available to invest in new strategic assets fomenting diversification”, Dr. Fakhro said.

BAHRAIN ECONOMIC OUTLOOK

Real GDP growth % Non-hydrocarbon sectors Hydrocarbons sector Inflation (CPI %) Current account (% of GDP) Fiscal balance (% of GDP) Nominal GDP growth, % Oil price in USD (Arabian Medium) Source: Bahrain Economic Development Board

38

2011

2012e

2013e

2014e

1.9% 1.4% 3.6% -0.4% 12.4% -0.3% 12.7% 106

3.9% 6.7% -6.5% 3.0% 12.5% -1.0% 5.3% 105

6.2% 4.5% 13.4% 3.0% 17.9% 0.6% 9.0% 105

3.4% 3.9% 1.4% 3.0% 17.6% -0.5% 5.7% 105

INTRO

Dr. Hassan Fakhro, Minister of Industry and Commerce

Khaled Al Zayani, CEO of Al Zayani Investments and a well-known local business tycoon

A SILENT BUT STRONG RECOVERY

But the country´s economy has shown its resilience and strong signs of recovery started to emerge in 2013. Standard and Poors revised the kingdom’s credit outlook to stable from negative in January 2013. A muchawaited $10 bn “Marshall Plan” Fund from the GCC countries is expected to start pouring down into the country at a rate of 1 billion per year in the next 10 years. The Fund will further drive economic growth through higher levels of capital expenditure on large-scale infrastructure, housing, transport and power and water projects. With oil prices forecast to remain over $80 over the next three years, the new technologies applied to deeper oil exploration and higher productivity of existing oil wells will also contribute significantly to lift the country´s financial burden. A fresh public investment of $15 bn up to 2030 in the oil and gas sector predicts that oil production in Bahrain will rise to 100,000 bpd by 2020. The expansion of the industrial base of Bahrain will benefit from a planned liquefied natural gas (LNG) import terminal while plans on a USD4.8bn refinery upgrade, the first and one of the largest of the region, are well on their way. Aluminium Bahrain (Alba), has initiated the Bankable Feasibility Study (BFS) in 2012 to determine the viability of Line 6 expansion project of around USD 2.5 billion which is expected to add an additional 400,000 metric tonnes per annum to the current capacity of 890,000 metric tonnes, a USD1.2bn expansion by the Gulf Petrochemical Industries Company (GPIC) and a tender for the production of 5 MW of renewable energy opening up the space for growth to a more sustainable and environment-friendly new source of energy in Bahrain. According to the IMF World Economic Outlook, Bahrain´s economy will grow 4,2 percent in 2013.

“A key strategy, which has a significant impact on industrial diversification is the adoption of an open-market policy as a development strategy. Attracting

inward investment has broaden Bahrain´s industrial base and has provided a trigger for supporting new industries and creating a whole set of down-stream manufacturing.

It has reduced the skill gaps and has provides higher value added employment to the domestic workforce”, the minister of Industry and Commerce told GGC. To cement the plan a new Economic City is in its development phase and aims to create a paradigm shift in the economy, creating new industrial and business clusters.

According to EDB, the fastest growing sectors in 2012 were hotels & restaurants followed by social & personal services and manufacturing with double digits growth levels. “The construction sector which has gone through a substantial readjustment as a result of excess supply in parts of the real estate market has responded through a shift in activity towards affordable housing and infrastructure projects”, reported EDB. All sectors of the economy have nevertheless benefited thanks to bank lending growth.

@FindMeinBahrain

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Bahrain World Trade Center and Bahrain Financial Harbour, Manama. >

BAHRAINI STYLE

As the first country to open a University in the Gulf, Bahrain is also home to the best skilled and educated workforce of the region, a fact that further reduces the total investment required to locate business operations in the country. Bahrain´s comparatively low costs of living and doing business are a major attraction to inward investment. Tamkeen, a government backed fund established in 2006, was created to build on the country´s talent offering subsidized education and professional training as well as funding for the small and medium enterprises expansion. The number of unemployed Bahrainis registered at the Ministry of Labour has remained above 6,000, although the official unemployment rate has dropped just below 4% from its June peak. Total local workforce is estimated at 183,391 people with 82,013 jobs covered by the private sector. Bahrain is also well known for the hospitality of its people and tourism, a major contributor to the country´s fight towards youth unemployment, remains one of the key selected sectors for investment. Although it experienced important setbacks as a result of domestic unrest, several factors indicate its recovery such as the return of the F1 race to the island as well as the increase of tourist cruise ships. “Hotel occupancy levels are edging up gradually into an estimated 47% “, EDB reported citing Ernst & Young. “Arrivals on the Saudi causeway reached 6.4mn in January-September 26.4% up from 2011 and passenger numbers at the Bahrain International Airport rose by 8.8% to a total of 8.5mn”.

Real estate developments are shaping a new skyline in Manama City and virtually creating entire new communities in cities like Muharraq and Riffa. With Bahraini hospitality as the base, health tourism and MICE are also expanding with Dilmunia Health Island as the growth catalyst of the sector and a new ExpoCity to be inaugurated in the next two years. The clear challenge ahead for Bahrain is to rebuild the social cohesion in order to achieve what was set out in Vision 2030 and the National Economic Strategy (NES) and be able to provide for future generations. @

Sunset in Manama City

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@FindMeinBahrain

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Sheikh Mohamed Bin Khalifa Al Khalifa Chief Executive, Bahrain National Gas Company (BANAGAS)

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Banagas

What is the main role of Banagas in the development of Bahrain? Banagas contribution to the Kingdom’s economy continues to grow. Since inception consolidated sales revenue and dividend income has been more than 30 or 40 times the initial capital investment involved in the project.

“In every nation’s history, events occur which turn dreams into reality; Banagas is a reality which surpassed dreams”

What is Banagas’ growth strategy and medium and long-term development plans? The primary objective of the Company was to use associated gas by processing it into propane, butane and naphtha. Other objectives were to make available the residual gas arising from the process for local industrial use and to contribute positively to the employment prospects of Bahraini nationals.

Banagas prepares a 5 year rolling strategic plan setting out its development plans focusing on medium and long term strategies and based on four primary objectives, namely (1) to contribute to the growth and prosperity of the Kingdom (2) attract, develop and retain, qualified, knowledgeable and motivated employees (3) achieve operational and business excellence and (4) provide a safe and healthy workplace and protect the environment.

What are Banagas recent investments and what prospects are in the near future for new ones? Recent major capital investment total USD 57.8 million of which USD 42.4 million was allocated to build a new gas compressor station and USD 15.4 million for debottlenecking the gas plant.

Is Banagas investing in research and development? What percentage and in which areas? Unfortunately our investment in research and development is very minimal due to the nature of our business which is focused on gas plant operations. However where necessary we seek external assistance through outsourced consultants in areas needing research and development.

What are Banagas main export markets, products and partners? For the past 3 years our principal market for LPG has been India with over 60% of @FindMeinBahrain

43

Sheikh Mohamed Bin Khalifa Al Khalifa Banagas

our sales being shipped there. The balance has been delivered to countries both east and west of Suez. The Naphtha market is essentially Japan with only the odd shipment to India and Thailand.

Our current offtakers are Naftomar for LPG and Itochu for Naphtha following the conclusion of our successful term sale tenders in November last year.

What are the policies and strategy of Banagas in terms of safety, health and environmental measures? The Board of Directors of Banagas consider the occupational safety and health of its employees and the protection of the environment as one of its primary responsibilities. The Company is committed to providing a safe and healthy workplace for all employees and contractors working within its facilities and will take all reasonable measures and precautions to minimise and prevent occupational injury and ill-health, pollution, damage to property and the environment.

What are the main areas of investment in social responsibility by Banagas? Are there other related initiatives? Banagas is a socially responsible and caring company which is always looking for ways to contribute to community affairs and activities. Particular attention is paid to local and social and charity events, either as participants or by providing generous financial support. @

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We put ourselves into competition with the leading international companies even in the early days. I.e. the International companies who worked in Bahrain with a niche specialisation services especially.

BANAGAS operates LPG plant facilities to recover Propane, Butane and Naphtha from Associated gas (from oil wells) and Refinery Off gas. Liquefied Propane and Butane are transferred to refrigerated storage tanks located at the Sitra Wharf area for onward export to various parts of the world. Naphtha is transferred to the Bahrain Refinery (BAPCO) for storage and onward export mainly to Asia.

The LPG shipping facilities consist of two loading pumps each with a rated capacity of 5,000 bbls/hour, a 16” loading line and a 10” vapour return line, each of which is fitted with fully articulated arms.

The residue gas is used as fuel for Banagas furnaces and gas turbines, and the rest is supplied to Aluminum Bahrain (Alba), the Bahrain Refinery and Electricity Directorate’s Riffa Power Station to be used in operating their gas turbines after meeting the Company’s own fuel gas requirements. This residue gas, of about 250 million standard cubic feet per day (MMSCFD), represents 25% of Bahrain’s daily fuel gas consumption. With the exception of a small quantity of propane supplied to the local market all Banagas products are exported.

The original plant was commissioned in 1980 with capacity of 110 MMSCFD of Associated Gas. At present BANAGAS operates two gas-processing trains with a total feed gas through put of about 300 MMSCFD. BANAGAS produces approximately 3000 bbls of Propane, 3200 bbls of Butane and 4500 bbls of Naphtha per day for its own account as well as 2500 bbls of product from Refinery Off Gas under a processing fee agreement with Bapco. These products are exported to various parts of the world where they are used as industrial and domestic fuel while some also finds its way into petrochemical feed stock. @

Banagas

SOME OF THE CSR ACTIVITIES IMPLEMENTED IN 2012 . Design and construction of a lining system for the Central Gas Plant weathering pits. . Installation of Continuous Emission Monitoring System

BANAGAS COMPANY PROFILE

(CEMS) at Compressor Station 4 and Central Gas Plant CGP-I to meet Ministerial Order No. 10 of 2006. . Installation of LHE liners at Compressor Station 3. . Establishing the Banagas Desert Plants Garden in Al Areen. . Participation in the “Bahrain Green� Show. . Sponsoring school programs such as the GLOBE program.

The company currently employs around 500 people, 94% of which are Bahrainis.

Bahrain National Gas Company B.S.C. (BANAGAS), owned by the Government of Bahrain (75%) and Arab Petroleum Investment Corporation and Chevron Bahrain (25%) was inaugurated by His Highness Shaikh Isa Bin Salman AlKhalifa, the late Amir of Bahrain in 1979 to use the large quantities of associated gas extracted from the 40 years old Bahrain Oil Field. At a cost of US$100 million the project included the construction of four gas compressor stations, a processing plant to recover Propane, Butane and Naphtha, and a storage area at Sitra. In 1980 the country witnessed the first shipment of 5,000 metric tons of Butane.

To serve to the wider interests of the employees, shareholders, the community and other stakeholders, as well as the environment, Banagas actively support the community under different programs of social responsibility. Some of the beneficiaries are the University of Bahrain, Government and private schools, the Ministry of Health, the Bahrain Centre for Studies and Research, community projects, wildlife protection and sporting events.Funding is also provided to charity events.

1988 The company embarked in an Expansion Project to upgrade plant processing capacity from 170 to 280 MMSCFD. The Project, which was implemented by the Government of Bahrain as a sole venture, involved construction of two additional compressor stations and a new processing train at the Central Gas Plant. The Project was commissioned in October 1990.

2003 Another compressor station was constructed as part of the Project to process additional quantities of associated gas, as well as propane and butane-rich refinery off gas under an agreement with the Bahrain Petroleum Company (BAPCO).

2008 The Project was converted into an independent company, the Bahrain National Gas Expansion Company S.P.C., solely owned by the National Oil and Gas Holding Company (Nogaholding).

September 2011 An Engineering, Procurement and Construction (EPC) agreement for a new Compressor Station including gas gathering and transmission lines was signed between Banagas and JGC Gulf International Ltd. October 2011 The Arab Petroleum Investments Corporation sold its stake in Banagas to Boubyan Petrochemical Company (K.S.C).

@FindMeinBahrain

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Mr. Sameer Abdulla Nass Managing Director and Vice Chairman of Nass Corporation

R Isa Town Interchange

46

and Flyover

Nass Corporation

S King Hamad University Hospital

Nass Corporation is one of the most powerful groups in Bahrain and the seed group is celebrating its 50th years anniversary since the commencement of operations. What would you consider the major achievement of Nass Corporation throughout these years? I would not say most powerful but one of the major groups in Bahrain having a diversified business mainly in construction and industry.

But I can tell you that our major achievement is the opportunity received to actively participate in the development of our country helping the government to build what we see today in the Kingdom of Bahrain.

Some of the projects undertaken by us in the early 1960’s to 1980’s are still a vivid sign of why we are called the Signature Company that build the infrastructure for Bahrain.

For the last 50 years we have been challenging traditional business, family business, breaking away from the norms of the region. We are trying to change the perception of family business by looking into other options such as going public, which we did recently.

We have had several turning points in the evolution of the group in the last 50 years but the major of them and a quantum leap was the change into a public corporation company.

Our Plan to go Public started in 1990. We went public with an IPO in 2005, so it took us fifteen years to position ourselves, set the right time and to the correct market placement. Since then we haven’t stopped strengthening our geographical location and creating a new market in the region, which is our main target. Other than that, we are always opened to continuously study new advance ways of restructuring our organisation.

Indeed, one of the characteristics of the economy of Bahrain is the fact that the country is virtually run by family groups. As you said, in 2005 Nass group went public and created Nass Corporation BSC to consolidate the construction business. Do you think this should be the natural development of the local family groups? It is not natural for local Bahraini family groups to go public. In global statistics 90% of processes to go public within the @FindMeinBahrain

47

Mr. Sameer Abdulla Nass Nass Corporation

family business groups were initiated by the founder. 98% of the corporations disappear in the fourth generation and 2% stay focused in the market. In general, the family group hesitate enormously before taking up such a challenge as going public. But we have started the lead and we expect others to follow.

In Bahrain most of the family business groups are traders and industrialists working through JV or with our government. There is a need to create a structured business community to contribute to the development of the country.

What has been your growth strategy over the years? From the very beginning, NASS was created to become a diversified business group that could compete with any leading international companies especially in industrial projects. Today we have 38 companies under the NASS umbrella. When we started, in 1963 we won a number of public housing scheme contracts and we then moved immediately to building the utility and sewage facilities. When we understood we could compete with international EPC Contractors of the like of ABB or Siemens, to name some, we started our international promotional campaign to achieve prequals of International Standards. In 1960 we secured the ALBA packages, which was the springboard to win projects overseas. And in 2005 we went public.

ASRY basin quaywall R Sand processing plant P

/HISTORY Established by Abdulla Ahmed Nass over forty years ago with a vision of integrity and excellence.

After spending ten years in Saudi Arabia gaining experience of the contracting industry, local entrepreneur and businessman Abdulla Ahmed Nass returned to Bahrain in 1963 to set up his own civil construction and general trading business. He was soon undertaking major construction projects and quickly established a reputation for honest dealing and quality service.

As his business grew, so did his need for a reliable local source of construction services such as mechanical, electrical, plumbing and joinery contracting and of materials like cement, sand, aggregate and concrete.

Therefore, during the 1970s, Abdulla Nass set up companies, many of which were the first of their kind in Bahrain, to provide these services and materials. These were followed in the 1980s by a range of specialist companies to meet the growing needs of the shipping and offshore industries.

What are the opportunities for International investors or companies to join in the Corporation? We are always open to go into well-structured Consortiums to win projects locally and overseas. Additionally, NASS shares are not limited to Bahrainis. They can be purchased by any nationality and in fact as per today 80% of Nass shares are owned

by Saudis and the rest is divided locally, regionally and even in Europe.

Can you name some of the projects in which development Nass is involved? · 1st Housing Complex in Bahrain · ALBA Plant – phase 1 to phase 6 expansion packages · Establishment of 1st readymix service 48

Also during this period, Abdulla Nass formed a precast concrete company and entered the food import and wholesale business. He also established the first company in Bahrain to produce sulphuric acid. Further expansion and diversification continued during the 1990’s with scaffolding, prefabricated piping assembly, sweet water and ice, landscaping, organic fertilizer manufacture and a specialist shipyard (the only one in the Gulf to have totally engineered and built a jack-up oil platform rig) being added to the Nass Group’s activities. Affiliate offices were opened in Saudi Arabia, Kuwait, UAE and most recently in Oman to support the Group’s regional expansion.

Nass Corporation

It is difficult to say, but I can give you some hints.

We want to consolidate and invest in the restructuring of some areas of our group.

We are still fragmented and we have to connect and executive projects in a profitable way

R Isa Town Gate Underpass V Khalifa Bin Salman Hidd Port Infrastructure Q Arcapita Bank Head Quarters

provider in Gulf · Rebuild and repair of BAPCO refinery · Joint Venture partner in building the first Bahrain International Airport Apron · First Bridge in Muharraq · Construction of First Five Star Hotel – Gulf Hotel in Bahrain · Qatar cement plant · Equate polyethylene plant · Steel rolling plant, Kuwait · Khalifa Bin Salman Port at Hidd · Durrat Al Bahrain –infrastructure, bridges, golf course and marina etc.. · World Trade Center, Bahrain · ASRY Expansion and Phases · Isa Town Flyer – major assignment completed · SULB gas pipeline · Fabrication and export of materials to Hyundai and Danielli. · 8Million BD Aluminium plant in KSA · Lube oil plant in KSA fabrication and erection What was the growth and performance of Nass Corporation during the last year and what is the expected growth in the coming years? Year 2012 was one of the most dreadful years for Nass Corporation and for virtually the whole Kingdom of Bahrain.

However, this year we have already seen signs of improvement in the local economy and we are optimist on the future growth.

Since 2008 we have experienced a number of downturns, starting with the economic recession and then followed by the uprisings in Bahrain but we feel that 2012 was the bottom line of all downturns and 2013 will bring us a positive outlook in business opportunities inside and outside Bahrain.

The Government of Bahrain has to invest heavily and start the proposed new developments as the majority of them are still on the drawing boards. This has to be expedited and a rapid implementation of these new developments will bring Bahrain directly back to normal.

We are looking to create new opportunities for specialised projects in Qatar and KSA mainly due to their economic stability.

What is the company’s market share and what is the landscape for future investments? It is difficult to measure our market-share because we comprise over 30 organisations with diversified capabilities under one umbrella but also because there is no reliable data in the Bahrain showing private performance indicators.

About our future investments outlook

What is Nass Corporation competitive advantage?

Being one stop shop solution. It was Mr. Abdulla Ahmed Nass vision and as you can see today all divisions of NASS compliment the other.

Bahrain has always been an attractive place to set up business for overseas companies because of its strategic location and more recently because of the opportunities created thanks to the FTA with the United States. Which other advantages would you include as the most important elements to attract inward investment?

The social environment.

We have created a very friendly atmosphere with a multicultural society in a well-integrated business community.

The Gulf Cooperation Countries have been working for the past 10 years to create a Union

@FindMeinBahrain

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PROJECT INFO

Mr. Sameer Abdulla Nass Nass Corporation

TIMELINE OF ACHIEVEMENT

1960’s . First NASS project was the Royal Air Force, Bahrain. Followed by the construction of a School called Aysha Girls School in Manama.

We put ourselves into competition with the leading international companies even in the early days. I.e. the International companies who worked in Bahrain with a niche specialisation services especially.

Carried out Electrical Grid Systems, Sewage system in Manama and Ground cable laying.. . Building the original IsaTown housing . ALBA Plant – phase 1 the actual plant itself, phase 2 expansion, phase 3 and so on... until today the phase 6 expansions . The Birth of Delmon in JV with Tarmac

1970’s . Established the first mechanical division and projects like shut down maintenance of refinery and tank building at refinery was carried out; a major contract was also done for the rebuild and repair of BAPCO refinery when a fire stooped the production of oil.

VISION AND MISSION similar to that of Europe. Given the recent economic setbacks in Europe and the difficult situation of the Euro, how do you think the GCC Union should be handed?

We should go for it blindly. The region will grow to become stronger in its Economic stability and political stability. Military will also have a major role to protect the nation and deter avaricious people.

. Had a JV with Tarmac International for housing and infrastructure building. The Bahrain International Airport Apron was also build by the NASS Tarmac JV. . Was involved in the construction of the first Muharraq bridge (the

Make a wish. I wish to see everybody happy, keep all satisfied. NASS associates and employees see NASS Group / Corporation as their own company and that’s what should prevail. @

Our Vision To be an acknowledged industry leader, an epitome of customer satisfactionand impeccable integrity.

Our Mission To be an acknowledged industry leader, an epitome of customer satisfaction and impeccable integrity.

Our Values · Integrity · Excellence · Customer Satisfaction

old bridge) . Construction of 1st Five star Hotel in Bahrain – The Gulf Hotel . Construction of Government house Building for

@LOCATION & CONTACT

independence now called the

Building 453, Road 4308, Block 343, Mina Salman Industrial Area, Post Box: 669, Manama, Kingdom of Bahrain

Secretarial building..

1980’s . The 1st NASS TOWER was build with Michael Angelo Marble as cladding. Today it is the Pension Fund Building.

50

Phn +973 17 725 522 Fax +973 17 728 184 Telex 8243 NASCON BN nassbah@batelco.com.bh www.nassgroup.com

Nass Corporation

NASS CORPORATION COMPANY PROFILE Nass Corporation B.S.C. is a Bahraini Public Joint Stock Company established and listed on the Bahrain Stock Exchange in year 2005 with a paid up capital of BHD 20 million. Currently, the paid up capital is increased to BHD 22 million.

Since inception the company has emerged as Bahrain’s leading integrated Construction Solution Provider employing on an average 7000 people and has an average annual revenue of BHD 100 million with operations across Bahrain, Saudi Arabia, Qatar, Abu Dhabi and Kuwait.

Nass Corporation has carved for itself a unique position to deliver complete turnkey installations and provide clients with a convenient single source of multiple services.

NASS COMMERCIAL SERVICES A division of Nass Corporation B.S.C., it started operations in the early 1960s as a support function for the Nass Group. However in 1986, a decision was made to convert Nass Commercial Services into a separate division. Currently, the division represents international manufacturers and provides comprehensive sales, distribution, spare-parts and after-sales service facilities THE CORPORATION COMPRISES OF SIX DIVISIONS AND FOUR SUBSIDIARIES, TWO WHOLLY OWNED AND TWO PARTLY OWNED

to the Company and other entities outside the

DIVISIONS

NASS FOOD

NASS INDUSTRIAL SERVICES (NIS)

A division of Nass Corporation B.S.C. established

A division of Nass Corporation B.S.C., it is one of the most diversified

in the year 1982 as an independent trading

mechanical contractor and steel fabricators in the region. The division

division of the Group. The division today enjoys

is engaged in the fabrication, on-site erection, and maintenance of

a prime position as an Importer, Wholesaler

industrial units and provides complete turkey engineering solutions with

and Retailer of Frozen, Chilled and Dry Food

EPC capability The company was registered in 1978.

products thereby becoming a leader in the

Company.

supply of Specialized Meat cuts/products to Top

NASS SCAFFORM

Hotels, Caterers, Supermarkets & Hypermarkets

A division of Nass Corporation B.S.C., it is one of the leading scaffolding

in Bahrain.

and formwork companies in the Gulf. The division specializes in the energy and petrochemical sector and has undertaken several projects

NASS ICE PLANT

for international and regional clients.

A division of Nass Corporation B.S.C., it owns a Reverse Osmosis plant with a capacity to

NASS SAND PROCESSING PLANT (NSPP)

produce over 200,000 gallons of sweet water

A division of Nass Corporation B.S.C., it was formed in 1977 to supply

each day and two ice plants with a production

washed building sand to Bahrain’s construction industry. Currently, NSPP

capacity of about 85 tons of ice per day, for

is the largest supplier in Bahrain with production capacity of over 2,000

use by industrial establishments, hotels,

tons per day.

restaurants, and supermarkets. @FindMeinBahrain

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. Sewage works at Hamada Town, Pumping Stations and Electrical substations . Phase 2 Alba expansions in 1989 . Power Stations Anode . Balfour beatty JV to build foundation and jetty for GIIC steel plant (complete civil package)

1990’s

The two wholly owned subsidiaries f Nass Corporation B.S.C. are:

NASS CONTRACTING CO. W.L.L. (NC) Nass Corporation’s flagship company, Nass Contracting was established in 1963 and has made a major contribution to the development

. Cement Plant – Qassim

of Bahrain’s commercial and industrial

. Qatar cement plant

infrastructure, having successfully undertaken

. Equate polyethylene plant

projects in virtually every sector of the country’s

DELMON READY MIXED CONCRETE AND PRODUCTS CO. W.L.L. (DRMC)

. Steel rolling plant, Kuwait

economy.

Established in 1973 as a joint venture between

. Hidd Power station

2000

With 50 years of experience and proven

the Nass Group and Redland Readymix

expertise in the building and civil engineering

International, United Kingdom. As the leading

industry, Nass Contracting’s portfolio consists

Readymix Company in Bahrain, Delmon has

. Khalifa Bin Salman Port at Hidd

of industrial structures, infrastructure

played a major part in the construction of

. Alba Line 5 Expansion

development, pipelines and road construction

modern Bahrain with well over 7 million cubic

. Durrat Al Bahrain –

as well as luxury villas, office blocks,

meters of quality concrete produced to date.

infrastructure, bridges, golf

warehouses and other commercial buildings.

This company operates ten batching plants and

course and marina etc.

Offshore works include bridges, jetties and

each plant has a capacity to produce around 80

. World Trade Centre, Bahrain

quay wall construction and dredging, land

cubic meters of concrete per hour.

. Bahrain Map Junction

reclamation and shore protection works.

DELMON PRECAST CO. W.L.L. (DPC)

Interchange

2010

NASS ELECTRICAL CONTRACTING CO. W.L.L. (NE)

Established in 1984 as a separate company

. Muharraq Sewage Treatment

Originally established in 1981 as a joint venture

a special niche for itself in the Bahrain precast

Plant - Reclamation Works [SP-

with Balfour Kilpatrick International, United

market and become a major manufacturer of

78-2009]

Kingdom. Today, the company is registered as a

high quality custom made products for Civil

. King Hamad University Hospital

Class 1 License holder with Bahrain’s Electricity

Engineering and Building applications. The

. Isa Town Flyover

Directorate.

company’s extensive range of products include

AT PRESENT

A comprehensive service is provided

decorative architectural panels in precast

from design and supply to installation and

concrete and GRC, heavy duty reinforced

. SULB Civil Construction Package

commissioning, for a wide variety of electrical

concrete products, pre-stressed long span

and instrumentation contracting with primary

double T units, bridge beams, hollow core slabs,

focus on energy and construction sectors.

reinforced concrete pipes, precast walls, septic

And Gas Pipeline . Nass Centre . The Bahrain Ship Repairing and

within the Nass Group. Delmon Precast has built

tanks, precast cladding panels, manholes,

Engineering Company Facilities

foundation bases and various small products

Expansion Project

such as kerbs and paving slabs.. @

. US Navy Waterfront Development - Naval Support Activity P-925, P-926 . ASRY North Development Phase-1 . Ongoing Projects in Qatar . Tatweer Partnership projects . Fabrication and Export of Products To Hyundai And Danielle . BD 8M Aluminium Plant In KSA . Lube Oil Plant in KSA – Fabrication and Erection

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The two partly owned subsidiaries of Nass Corporation B.S.C. are::

Abdulkarim Bucheery Chief Executive of BBK

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BBK

As the former Chairman of Bahrain Association of Banks and a 35 years Banking veteran, could you brief us on the landscape of the financial system of Bahrain? Only in our association we have a membership of about one hundred banks. But we have as many as four hundred financial institutions in Bahrain licensed by the Central Bank. From that figure 105 are banks and the rest are Funds and Finance companies. Around 29 to 30 banks are commercial banks that deal basically with customers and end-consumers and the rest are either investment or offshore bank units, wholesale banks, which don’t deal directly with consumers.

You have been at BBK since 2002 in different positions at different timings.

In fact after working for three decades in the sector you have witnessed different market situations with periods of growth and periods of financial crisis. In which moment do you think we are now here in Bahrain? I guess we are now at the end of a recession that has been quite deep. From here we ought to start going up and grow. Usually recessions last for a period of 5 years and only if it’s very deep it goes up to 7 years, or at least that’s what we were taught at the economic school. The current crisis started in July 2007 so we are almost in our 6th year, and definitely by the end of this year our whole economy will start growing. This is a known economic cycle throughout history and there are already signs of recovery. We see some movement in the real estate prices and more activity in the private sector. I hope that the improvements are sustainable and that from here we move onto the growth area.

Bahrain was the first established financial centre in the Gulf Region with the most advanced legislation and a very well rated market regulator. However the sector has been affected twice as much as any other country in the region suffering from both the economic downturn and the local uprisings

@FindMeinBahrain

55

Abdulkarim Bucheery BBK

and political instability. Additionally, competition has become fierce with the Saudi financial sector becoming bigger; Qatar Financial Centre starting to blossom and Dubai’s financial arm stronger by the day. As a sector, what steps do you think Bahrain has to take to come back to the spotlight? As you have correctly said the countries around us are trying to create financial centres. I don’t think this should be a concern to us. It is actually a good thing to have a global financial centre in the area. We will be complementing each other rather than competing against each other. Think of an ordinary person. If he wants to buy a shoe in UK for instance he will go to a place where most of the shoemakers are and won’t go to scattered places. So it’s good when we have a financial centre here in the region.

However, Bahrain has gone a long way before the rest. We started our place much earlier and we have created the most important element to sustain the financial sector: a skilful local workforce. If you walk into any Bahraini bank you will see Bahrainis heading them. Indeed, we export our human resources to places like Saudi, Kuwait, Qatar, and the UAE. The availability of skilful human resources is one of the most important elements to establish and grow a sector.

Also we have very good legislation and the Central Bank of Bahrain, our market regulator, is very well known for its prudency and credibility. It will still take some time to any other player in the region to have such a credible regulator. Beside we have in place all related supporting systems such as a good telecommunications network.

Therefore, Bahrain is in an advanced stage where it can basically keep its position as a financial centre for some time to come. We welcome the competition and in fact if they are able to provide a better service they will be the one getting the business.

Additionally, there is something I would

56

/IDENTITY & VISION “To be the premier regional financial services enterprise in providing superior products and services of high quality through innovation, technology, and lifelong customer relationships”.

BBK´s vision looks towards “A Brighter perspective” determined to show the bank´s innovative approach utilising cutting-edge technology to deliver banking solutions to all clients, growth for shareholders, opportunities for employees and prosperity for the community through a team of experts who represent a true and consistent expression of BBK´s character.

The bank underlines the fact that great performance only comes from motivated performers, who work to deliver a “financial partner/advisor” relationship and respond to the needs with the best level of service with employees.

BBK will continue expanding overseas to selected locations to satisfy the diversified needs of its customers in a commitment to provide the very best in customer service.

like to highlight in favour of our financial system. Even during the toughest moments of the uprisings in Bahrain back in February and March 2011, the banking sector worked without a single day of interruption and proved that it could continue.

However, as you said there are over 400 financial Institutions and 100 banks in Bahrain which given the circumstances suggests that there might be some sort of consolidation coming up sometime soon. Is it correct? There has been some consolidation already but unfortunately in a very small scale and definitely not to the extent that we would have wanted. I think there are too many banks. . Consolidation is a very important aspect to operate in a very solid ground and have the ability to be engaged in mega-projects. However, I think it will take time in Bahrain for different reasons but basically because the shareholders are already quite content with the performance of their own banks and because there is always the dominating factor psychology that owners don’t want to lose.

BBK

What would you consider the goldmine of the banking services in Bahrain? I think our consumer & retail banking are very advanced. We offer a range of products tailor made to every person in the street.

We are advanced in terms of delivery, maintenance and registration of services.

Bahrain is also a pioneer and major world player in Islamic banking. What is the future of Islamic banking in a time when conventional banking has proven to be at the roots of the financial crisis? I think the future is good and will be positive and promising. It is the future of banking all together. All nations would still need banking services and the Islamic banking services would grow along. It used to grow at a much faster pace before but in the years to come it will grow parallel to conventional banking.

Islamic Banking is a very relevant side of banking especially for Muslim countries where they are confined to a certain extent by certain roots and regulations (shariah).

The industry has created products that became international and are now very well recognized like the Sukuks. More banks, be them Islamic or conventional, are starting to have some sukuks portfolios on their books. In the future I hope the industry will continue to come up with more creations of such products.

Where does BBK stand in the Banking system of Bahrain and regionally? Under the commercial banking license we have approximately 29 banks in Bahrain and we are considered to be the largest of locally incorporated banks. We have been pioneers in many things but especially we were the first to introduce electronic banking services to the market. We started our E-banking services long time before any other bank, and now we dominate that market. We also own a credit card company called CrediMax, which is by far the largest in Bahrain with the second firm sizing not even one fifth of us. We are a financial group offering different services such as banking, credit card services, Islamic banking, and a call centre. The call centre started by shifting out of our bank that particular department to an independent legal company. It provides services also to other banks and companies and today we offer our call centre solutions to Ithmaar Bank and Khaleeji Commercial Bank to name some. We also have a global payment system company. We are definitely the largest bank with a large customer base and we will continue to grow hopefully year after year.

What is BBK´s long-term growth strategy?

It is very difficult to continue growing in Bahrain at our current rates given the size of the country. We have just approved a new three years strategy that runs from

January 2013 to December 2015 and has a focus on expansion outside of Bahrain and in the region.

We have a large branch in Kuwait, a representative office in Dubai, and we have three branches in India. We are amongst the very few banks from the Middle East with a presence in India.

We are now applying for a new license in India and we are looking to locate our fourth branch in Delhi. We have presence in Mumbai, Hyderabad, and Kochi.

We are still small in the context of the Indian market where the state bank of India has 13,000 branches but having four branches in India and being one of the very few banks from the GCC to have a presence there gives us a good profile and a strong competitive edge.

We are also exploring the opportunities to enter in other Gulf or neighbouring countries where we have no local presence including Kurdistan, Egypt and others. So the growth will definitely not only come from Bahrain where the market is saturated for

@FindMeinBahrain

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Abdulkarim Bucheery BBK

us. We are trying to compliment it by expanding regionally.

What about Bahrain’s economy in general?

You said there are signs of recovery and you mentioned real estate prices. Which sector do you think will sustain the growth of the country? I think in the short term it will be supported mostly through public spending and government support. Bahrain last year approved a two years budget for both 2012 and 2013 and it was the largest budget in the history of the country. They allocated substantial amounts for infrastructure projects. We were all hopeful that the spending would start from last year but unfortunately for a reason or another they have not started yet.

Is this related to the 10 billions GCC fund known as “Gulf Marshall Plan”? It has to do with the GCC funding which is a 10 billion Fund to finance developments projects in Bahrain over 10 years, to be invested mainly on infrastructure and with the Government revenues, which is also substantially dedicated to infrastructure. Once you start spending on Infrastructure everything else will start to move.

So which sectors in Bahrain could be the most attractive for investors? I think we are a country that should focus on providing pan-Arab services in sectors like health, education or industry in general. We started the industrial sector long before anyone else here in the region. Our refinery is the first refinery in the whole Middle East and our aluminium smelter is by far the first. Our petrochemical industry faces a shortage of gas to grow but the necessary arrangements have been done to secure the feedstock. We were recently involved in the setup of a sugar factory and a Polyester Film plant, here in Bahrain And why should an investor set up business in Bahrain and not in any other country in the region? Very good question, I think we as a nation are very receptive.

You may have noticed that Bahrainis are 58

friendly and I hope that they continue to be friendly.

Another factor would be the abundance of qualified and skilful workforce. Bahrain has been ranked for the third consecutive year amongst the top 15 countries in the world in terms of ease of doing business according to the World Bank rating. Doing business in Bahrain is very easy.

You get some support from the government, you even get some subsidized services and some other subsidized facilities with Tamkeen playing an important role in doing so.

There are actually a lot of reasons why one would be interested in doing business here in the Kingdom. Even the cost of living in Bahrain compared to other countries in the Gulf is moderate and much more affordable. Inflation rate in Bahrain for the past number of years has been very contained at the level of 1 to 2 percent, and therefore the cost of doing business in Bahrain won’t be out of your control. And again I emphasize on the abundance of skilful human resources. …And a highway that connects the island with the largest market in the region: Saudi Arabia. Exactly. Geographically we are between the world´s largest oil field in Saudi and the world´s largest gas field in Qatar. We are connected to Saudi through a highway and soon we will also be connected to Qatar through a bridge. @

@CONTACT

43 Government Avenue PO Box 597, Manama Kingdom of Bahrain Phn +973 17 22 33 88 Fax +973 17 22 98 22

Nass Corporation

Emad El-Hajjami

Commercial Manager - Bahrain

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DHL

What does Bahrain as a geographical location mean for DHL, as a multinational logistics firm? Bahrain as a country is pivotal in terms of a strategic location amongst the GCC countries, mainly due to the proximity to Saudi Arabia one of the largest markets both in terms of volume and population, if not the largest consumer of goods in the Arabian Peninsula, many customers set up in Bahrain to enable themselves to have access to both Bahrain and Saudi Arabia, this link allows companies in Bahrain to capitalise on both markets, so from a geographic point of view, many would agree that it is perfectly placed to be the gateway to all of the GCC and Levant countries. The long standing relationship between the Kingdom of Bahrain and DHL dates back to the 70’s when DHL first set up in Bahrain, and this long proud co operative history has certainly allowed us to excel in Bahrain but also allowed us greater understanding of the neighbouring countries in the GCC which we have successfully branched out into and managed to use our specialised industry knowledge to gain a strong hold within our respective markets.

Given the nature of your business, how would you rate the infrastructure of Bahrain? And what do you think is still missing? Infrastructure is absolutely pivotal to the success of any logistics company, as access is what allows us to deliver on our promise of speed, so without a solid infrastructure this would only hamper our efforts, the infrastructure in Bahrain is modern, accessible and overall in great shape to service our customers, with any city or country, there will always be areas which can be improved (traffic flow) however it can be seen in Bahrain that they are countering this with new bridges and roads which will help free up the traffic flow, which is another sign that the country is moving forward with Investment. The new link road which takes you from the Diplomatic Area to the Bahrain Financial Harbour is exactly what is needed to ease congestion on the main highway and this was achieved, more infrastructure developments can be seen with other new bridges which are being built to help congestion. As I said earlier Saudi Arabia is one of the key areas for the majority of the Bahrain based business and even most multinational companies which are based here, hence why I would say a joint understanding between both Bahrain and Saudi @FindMeinBahrain

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Emad El-Hajjami DHL

Arabia needs to be reached in order to ease congestion on the King Fahad Causeway, the volume is increasing yet the amount of space available has yet to increase since inception. This would definitely be the voice of the market, as this is an overall area which if can be increased would help even greater flow of trade into Saudi Arabia from Bahrain.

As the leading forwarding and logistics company established in Bahrain, what are the benefits of locating here? And the inconveniences? The overall statement of DHL Express being the market leader is very much true, DHL Express pioneered the Express Market, helped develop the mould and blue print for other logistics companies to use in order to successfully implement their very own service offering.

The benefits of being in any country for a long period of time is the advantage of having the local market knowledge, having the type of presence and reputation in place which allow us to recruit talent from the local market. DHL Express globally prides itself on being the Employer of Choice, the only way we have achieved this milestone is by understanding the needs of the market and helping the country grow by being such a large employer here in Bahrain. The benefits and advantages of this is new ideas being incorporated with existing ideologies and bringing them up to date with what Bahrain needs, having the flexibility of being able to adjust to better serve the market which you operate in will always help facilitate trade in a more efficient and effective manner. The only such inconvenience which we face is we don’t have enough positions open for all the talented individuals who we interview, as one role usually attracts in excess of 50-70 candidates regardless of the position, which speaks volumes about the reputation we have here and the vision of being the Employer of Choice.

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What is DHL´s core business in Bahrain? Where does most of the cargo goes and who are your main clients? DHL Express core is the Express Shipment, anything which a customer needs to either get to a place anywhere around the world, or brought in from anywhere around the world within a time critical deadline, in order to differentiate ourselves from the competition DHL Express serves in excess of 220+ countries globally (DHL Express is better represented on a global level then the Olympics). So having anything whether a document or an engine which needs to be moved within a specific time frame is our core. DHL Express is all about Time Definite, this is how DHL Express started and this is what we pride ourselves on, we have the infrastructure in place globally to achieve this, from our Main Hubs located across the globe to our QCC (Quality Control Centres) which constantly report on anything which can have even the slightest of impact on time which would result in a delay. Our cargo comes and goes from around the world, trying to pin point any major Market, one would say Mainland Europe, US and the Far East, the Far East with the rapid boom in economic fortunes has resulted in a higher amount of imports into Bahrain. The opportunity to capitalise on their booming economies has only helped Bahrain grow along with it, as the amount transactions from this part of the world has grown at a remarkable rate.

Our clients sit many different industries ranging from I.T, Financial Sector, Automotive, Oil and Gas to General Services,

DHL

business activities, the overall feeling from all the employees in DHL Express Bahrain was to keep going and not to allow such issues effect what we do best which is deliver all parcels within the stated time frame. not to mention our walk in customers who send personal effects on a adhoc basis.

Over the past years Bahrain has suffered the consequences of the global financial downturn and the internal political issues.

How has DHL Bahrain been affected? The overall global financial downturn has effected many, however due to the diversified nature of our business we have always found other areas to capitalise on with our expertise, not to say that the impact was very minimal as this was not the case, as many of the Financial sector are located to other countries within the GCC which may have affected us in country but the business remained with DHL Express on a Global level, the internal political issues which happened in Bahrain didn’t deter us in the slightest, this proved a testing time and the team within Bahrain only grew stronger and stood united in order to keep the business which stayed loyal to keep delivering during such a chaotic period. This only enhanced our status in Bahrain as we kept going when many of the competition suspended their

And now that the worst seems to be over, what is the outlook for DHL for next year? As a global organisation we have pre set goals and aims in which we must fulfil, in order to do this we must always stay one step ahead in order to keep a fresh and unique product portfolio, 2014 will prove to be an exciting year with many interesting projects which are being worked on now in order to flourish come 2014, In regards into details, these cannot be revealed just yet but we will be the first Express company to be offering such a service which will cater for all the industries which need a time specific, fully tracked and updated shipment which could possible arrive from anywhere in the world within 24hours of the order being placed.

We also see recovery in many industries which is already being felt and the feel good factor coming back to the Bahrain Market which will only provide us with a better spring board to really penetrate the market further. The overall consensus to listen to what the market needs and work with our global team to provide them a

solution which works best.

We also have additional flights to key countries which will further enhance our capacity to sell, not forgotten our new Dammam Gateway which will take a huge load of the causeway which will give DHL Express Bahrain far greater transit time into Saudi Arabia via the Causeway which will allow us a huge advantage over the competition.

What will be the strategy towards growth? And how big events like the Formula 1 in Bahrain can affect it? What is the contribution of the event to your business? The secret to success is to always be the leader in innovation, new product offering and being able to be pro active rather than reactive within the market, the strategy towards growth is target all SME’s as there are only so many large companies in which you can work on, today’s small company can become tomorrow Top 100 company and by offering

@FindMeinBahrain

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Emad El-Hajjami DHL

our specialised knowledge within the market we can help these companies grow and really become their strategic partner.

Major events in Bahrain will always help boost business, the knock on effect of any event has always proven to provide a positive month in terms of growth, events such as the GCC cup proved to be very successful for Bahrain as a country, as well as business which operated during that period , F1 for example is always a busy time, as we are there logistics provider so there is always a lot going on, in regards to quantifying how much of a contribution it provides would be difficult as the orders for such events start months in advance however the impact is positive and the country thrives on such events.

Who are your main competitors and what is your competitive edge against them?

The competition here in Bahrain is visible, with any start up they could lead to being a competitor as they would pick up on any customer regardless of size, however our advantage over the rest is our regional hub which we have in Bahrain, having our own Hub here, along with our very own in house customs team allows us far greater speed and reliability, the fact we have our facility air side and can off load our very own fleet of planes meters away from our hub only adds to our competitive advantage, increasing our fleet of planes which will serve the GCC and other key markets will be seen as a massive advantage which the competition would need to invest in considerable in order to compete. DHL has grown its infrastructure and taken up prime locations both in Bahrain and globally in order to serve our customers in the fastest possible way. As mentioned at the beginning we sell time and we know how precious time can be, whether a sample which needs to be seen and approved or a mechanical piece for a factory which stops production. Our strength is in our people and our network.

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@CONTACT

DHL Express

Noor Building Umm Al Hassam P.O. Box 5741 Kindgom of Bahrain

Direct: (+973) 1736 4120 Mobile: (+973) 36 222 700 Fax: (+973) 1736 9261

How long has been established DHL in Bahrain and what have been the turning points in the development of the office? What is the current size of the office and what is the vision of DHL towards a local workforce? DHL Express has been established in Bahrain since 1976 as the first logistics provider in Bahrain, the overall scale of our operations here in Bahrain is in excess of 1200 employees, the number of Bahrainis employed all together is at 76% which is well above the industry standard and governmental guideline, we strongly believe in promoting local talent and growing the amount of locals within senior and key roles within the organisation. The aim is to become sustainable in each market with local knowledge and this can only be achieved with individuals from the market.

The logistics sector has become an intrinsic part of the global economy and is becoming always more important. How would you describe the current developments of the sector and your forecast of growth or changes in it in the coming years? The logistics sector will play a crucial part in all technological changes moving forward, the ever increasing technological advances will only help the logistics market move forward, as this sector needs its goods in the market first, the only way thiscan be achieved is through an Express mode of travel, this in essence will stimulate growth within the industry, another key contributor will be the emerging markets, as cost becomes more and more of a burden on companies, they will seek to capitalise on emerging markets which have greater appeal for investors, this in turn will result in companies relying heavily upon a logistics solution to help them with their move away from developed economies. The overall forecast of growth moving forward in the next decade will definitely be one of positive uptrend’s.

@FindMeinBahrain

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iInvestment and Legal Framework

A WELL LOCATED ATTRACTIVE FOREIGN INVESTMENT DESTINATION

Bahrain applies zero taxation to private companies, few indirect taxes for private enterprises and individuals and allows free repatriation of capital. It is the only country in the region that offers 100% foreign ownership of business assets and real estate.

GCC States have grown immensely during the past decade.

Bahrain, pioneer in the region in almost everything, remains one of the most attractive destinations to foreign investment. The most important reason is its zero tax policy but geographical location with easy access to the biggest consumer market of the Arab World, Saudi Arabia, a solid business infrastructure and the best educated and skilled workforce of the region compliment the package.

Bahrain applies zero taxation to private companies, few indirect taxes for private enterprises and individuals and allows free repatriation of capital. It is the only country in the region that offers 100% foreign ownership of business assets and real estate.

At about four hours drive from Riyadh, Saudi Arabia´s capital and less than an hour from the oil rich Saudi Eastern Province, Bahrain is also very accessible by plane, an hour away from Dubai, UAE, and hardly half an hour from Doha, Qatar. Qatar and Bahrain will soon be connected through the Friendship Bridge scheduled to be ready by 2022. With the inauguration of Khalifa bin Salman Port in 2009 Bahrain has also became a major regional trans-shipment centre directed mainly to the upper Gulf region including Irak and Iran.

The easy access to other markets plus the low cost of living and working in Bahrain make the country a very interesting destination for International investors eyeing a regional operation. Housing, office rents @FindMeinBahrain

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Bahrain International Circuit had its first World Champion race in April 2004.

and land prices are considerably lower than in neighbouring countries and subsidies are applied to electricity, water, oil & gas. Bahrain priority areas of investment are: downstream industry, light manufacturing, logistics, ICT, health and education.

The expansion of water and electricity infrastructure as well as oil and gas infrastructure also present huge opportunities.

Table comparison of GCC economies ranked in their ease of doing business from 1 to 185.

This index averages the country’s percentile rankings on 10 topics, made up of a variety of indicators, giving equal weight to each topic.

The rankings for all economies are benchmarked to June 2012.

TABLE COMPARISON OF GCC ECONOMIES Saudi Arabia

Ease of Doing Business Rank Filtered Rank Starting a Business Dealing with Construction Permits Getting Electricity Registering Property Getting Credit Protecting Investors Paying Taxes Trading Across Borders Enforcing Contracts

22 1 6 4 2 1 1 1 3 4 13

United Arab Emirates

26 2 1 2 1 1 2 14 1 1 7

Qatar

40 3 10 3 3 5 6 9 2 10 6

Bahrain

Oman

42 4 8 1 7 4 11 6 4 9 9

47 5 5 5 9 3 2 9 5 7 8

Information compiled by the IFC

Kuwait

82 7 14 11 10 11 6 2 6 13 10

Kamal bin Ahmed, Acting Chief Executive of EDB and Minister of Transportation

Foreign investment in Bahrain is catalysed by the Economic Development Board (EDB) launched in 2000 to formulate and supervise the economic development of the country. EDB help new investors to analyse costs, infrastructure availability, workforce requirements, market opportunities and advise you on the regulatory, legal and tax frameworks through the Bahrain´s Investor Centre, a one-stop-shop for setting up a business in Bahrain.

It is chaired by His Royal Highness Shaikh Salman bin Hamad Al Khalifa The Crown Prince, Deputy Supreme Commander, First Deputy Prime Minister, and its Board of Directors includes government ministers as well as industry executives, enabling public and private sectors to work closely together. Foreign investment is key to the Economic Vision 2030 to improve competitiveness and create skilled jobs for Bahrainis.

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of Bahrain during his speech at “Invest in Bahrain” conference in 2013

Investment and Legal Framework

SETTING UP BUSINESS IN BAHRAIN

Bellow is a list of the steps that need to be taken in Bahrain in order to incorporate and register a new firm compiled by the World Bank through its investment arm, IFC as part of Doing Business Project. It examines the procedures, time and cost involved in launching a commercial or industrial firm with up to 50 employees and start-up capital of 10 times the economy’s per-capita gross national income.

STEPS TO INCORPORATE A FIRM IN BAHRAIN No.

Procedure

Time to Complete

1

Obtain lease agreement to prove location. The lease agreement is required to obtain preliminary approval from the Municipality. If the entrepreneur decides to use the services of an attorney, it is common practice for the entrepreneur to use the address of the law firm until a lease is obtained within 3 months.

1 day

No charge

2

Draft standard Memorandum of Association and obtain preliminary approval from the Ministry of Commerce at the Bahrain Investment Center’s one-stop shop. The entrepreneur obtains preliminary approval from the Ministry of Commerce by presenting the required documents to the Bahrain Investment Center (BIC)'s one-stop-shop.

The required documents are: (1) Draft Memorandum of Association, (2) Board resolution, (3) CPR copies of the company representative, (4) CVs of partners, (5) Lease agreement.

1 day

No charge

3

Obtain approval from the Municipality. The location of the company must be approved by the Municipality, which has a representative at the BIC’s one-stop shop.

3 days

No charge

4

Notarize Memorandum of Association. Once the registration approval has been obtained from the Ministry of Commerce, the Memorandum of Association has to be notarized by the notary public. A notary is available at the Ministry of Justice’s booth at the BIC one-stop shop.

1 day

BHD 27

5

Open an account at the bank and obtain proof of deposit of capital. The capital has to be deposited in an account at a commercial bank and a proof of deposit has to be obtained. Two commercial bank branches are available at the BIC one-stop-shop.

1 day

No charge

6

Obtain Certificate of Registration from Ministry of Commerce. When the approval from the municipality is obtained, the MoA is notarized and the capital is deposited into the bank, the entrepreneur returns to the Ministry of Commerce to obtain the Certificate of Registration (C.R).

1 day

BHD 30

7

Register the company and employees with the General Organisation for Social Insurance (GOSI).

The documents required for registration are: • Copy of employer’s CPR • Copy of the CR • Copy of company contract

1 day

No charge

@FindMeinBahrain

Associated Costs

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iEducation

TOWARDS A KNOWLEDGE-BASED NATION

Bahrain workforce is considered

The fact that Bahrain exports its workforce is a clear sign of a healthy education system that has been around from sometime now and clearly earlier than in neighbouring countries. The first university of the region was established in Bahrain in the first half of the 20th Century. The literacy rate of Bahrain stands at almost 100 percent. In the state’s 2-years public budget for fiscal years 2012-2013 that totalled around BHD 7 billion, 10,6 percent (BHD 114,8M) was allocated to cover housing, health, education, training, social welfare and cultural services’ projects.

Education in Bahrain is free and compulsory for all Bahraini and non-Bahraini students in public schools. There are separated schools for boys and girls with administrative staff of the same sex. But there are some public boys primary schools where the teaching and administrative staff are females. Coeducation is applied in private schools and at the university levels. The number of Bahraini students until secondary level in government institutions stood at around 130 thousand in 2012 with more than half of the teachers being Bahrainis. Bahrain is home to one of the best private schools in the Middle East, St. Christopher’s School and the country has pioneered the introduction of information technology at schools.

one of the best trained and skilled in the region.

@FindMeinBahrain

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In 2004 King Hamad Schools of Future project was launched by King Hamad bin Khalifa Al Khalifa aiming to improve the K-12 education with the introduction of new technologies and connecting all schools in the kingdom.

CREATING A NEW AGE OF STUDENTS

In 2004 King Hamad Schools of Future project was launched

by King Hamad bin Khalifa Al Khalifa aiming to improve the K-12 education with the introduction of new technologies and connecting all schools in the kingdom.

Following the guidelines of the Economic Vision 2030, the education system has been under review for the last five years and enhanced at different levels with the common objective of creating a knowledge-based economy by 2030. The Economic Vision 2030 is a long-term strategy plan for the future development of Bahrain created with the contributions of both private and public sector. It envisages the enhancement of the education sector and encourages growth in research and development, vital to reach the goals set by the vision. Without a very good education system, there is no vision. Education has to reward ability and merit and has to comply with the highest possible quality standards. It has to be able to identify the needs of the local industries and deliver professionals to grow them and at the same time provide quality training to increase global competitiveness and attract new industries to Bahrain.

As a result, to strengthen the sector the government of Bahrain has adopted a number of initiatives that include the enhancement of the teaching profession; the improvement of Secondary Vocational Education closer to the requirements of the Bahraini economy; the improvement of women education -women today form the majority of university students in Bahrain-; the establishment of the Bahrain Polytechnic to develop practical skills directly applicable to the job market and the creation of an Independent Quality Assurance Authority which is responsible for conducting inspections in all educational institutions and assuring its high level educational standards and for running school level examinations.

The Economic Vision 2030 is a long-term strategy plan for

BUILDING HUMAN CAPITAL RESOURCES: TAMKEEN

In 2006 the state created Tamkeen, Bahrain´s labour fund, to improve the qualifications of the workforce by implementing a series of initiatives such as financing training within the private and public sector and offering different human capital development initiatives. Only in 2012 Tamkeen enabled more than 3,000 Bahrainis to obtain accredited certifications in different sectors. That year alone the number of Bahrainis that benefited from Tamkeen´s human capital programmes increased by 43 percent to 24,000 people.

Tamkeen was established as part of Bahrain’s national reform initiatives and Bahrain Economic Vision 2030, and is tasked with supporting Bahrain’s private sector and positioning it as the key driver of economic development. Tamkeen’s two primary objectives are fostering the creation and development of enterprises, and providing support to enhance the productivity and growth of enterprises and individuals.

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the future development of Bahrain created with the contributions of both private and public sector. It envisages the enhancement of the education sector and encourages growth in research and development, vital to reach the goals set by the vision. planning at a BHD2, 9M.

Education

A BUSINESS ORIENTED SYSTEM

The main programs run by Tamkeen are related to education and include the Tamkeen Professional Certification Scheme which is a BD 2,244,000 professional certification fund created to support Bahrainis in obtaining internationally accredited professional certifications; inJAz and Tamkeen agreement doted with BD362, 000 plans to introduce 1,800 secondary school students over a 3-year period to economic principles and business environment including lectures on the stock Exchange and the Talent Management Programme. Operating since December 2011 and targeting 2,400 employees over a four-year period it is a training programme created to improve the managerial skills of the Bahraini work force with lessons on corporate management, marketing, problem solving or strategic planning at a BHD2, 9M. Since its inception and particularly in the last few years Tamkeen has become a clear leader in education and training within the younger generation of Bahrainis those which will form tomorrow human resources capital.

In Bahrain population is projected to grow to over 1.5 million by 2020 with 46 percent being Bahraini. The ratio between those outside the labour force to the number in the labour force is expected to decrease from 88 percent in 2008 to 76 percent in 2020 with the Bahraini working age population growing 41 percent by 2020 to cover over 400,000. Almost 80,000 additional Bahrainis will be in the workforce by 2020 in a country that would experience a 19 percent growth in GDP over the coming decade.

Following the above assumptions and reviewing the current status of the higher education in Bahrain, the Higher Education Council launched an investigation in 2012 to inquire on the future needs in Bahrain and concluded that business related programmes and student uptake have saturated higher education in Bahrain and to create a more balanced education biological sciences, dentistry, languages, social sciences, visual arts and communications, music, fashion and textiles, performance and new media, broadcasting and journalism need to be developed and integrated into university offerings.

STUDENTS ENROLLED BY PROGRAMME 9% Engineering & Architecture 8% Teacher Training & Education 6% 51%

Law

5% Health

Business & Administration

4% Arts & Humanities 3% Computing 5% 7%

2% Journalism & Information

Others

Unknown

@FindMeinBahrain

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STUDENTS IN 2011-2012 Total No. Students Total No. of Males Total No. of Females

32,327 12,763 19,564

61% Males

39%

Females

THE EDUCATION SYSTEM

The primary education in Bahrain has three phases from 6 to 12 years. In a study compiled by UNESCO-IBE private schools in Bahrain are mainly of two types: national private schools established and run by Bahraini citizens or with the participation of non-Bahrainis and Foreign private schools established, run and financed by foreigners; Arabic language is taught in all foreign private schools that accept Arab students and Islamic religion for all Muslim students and history of Bahrain for all (For more information on the Bahraini education system please visit http://www.ibe. unesco.org/).

Bahrain boasts more than 250 primary and secondary schools including 65 private schools that offer curricula from the UK, US, France, India, Japan and Pakistan.

The third cycle, intermediate school, runs also for three years to 15 years old. Students can choose from general, commercial or industrial programs. Higher institutes were available in the island since the 1960s, and later developed into today´s colleges and universities.

Each private education institute has its own curricula, study plans, courses and textbooks. They are submitted to the Ministry of Education for approval and the MOE has the right to modify or reject any curriculum or textbook. Since the liberalisation of the educational sector, several foreign institutions have been attracted to the market targeting students not only from Bahrain but also from the region.

BUDGET DISTRIBUTION OF THE MINISTRY OF EDUCATION 2012* Description

Expenditure on Manpower Expenditure on Services Expenditure on Consumables Expenditure on Assets Expenditure on Maintenance Grants, Subsidies & Repayments of Loans Interest Total Expenditure on Projects Ministry Total *Expressed in Bahraini Dinars

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Budget Full Year

231,039,880 28,789,500 4,048,900 2,112,400 2,513,200 100,000 268,603,880 29,704,018 298,307,898

Women in Bahrain represent a high percentage of the workforce and are majority at the local universities

Tamkeen graduates.

In 2006 the state created Tamkeen, Bahrain´s labour fund, to improve the qualifications of the workforce by implementing a series of initiatives such as financing training within the private and public sector and offering different human capital development initiatives

Education

EDUCATION TIMELINE 1919

Al Hidaya Al Khalifa School for boys opened in Muharraq Island becoming the first of the region.

1926

The second public school for boys opens in Manama

1930

The education system falls under the umbrella of Bahraini authorities.

1959

The College of Health and Sciences is established.

1968

The Gulf Technical College is established and then rename to Gulf Polytechnic in 1981 by Emir Decree.

1984

The six member countries of the GCC fund the Arabian Gulf University (AGU), which starts operations in 1989.

1986

The University of Bahrain, the largest public university of Bahrain, is created by Emir Decree.

1998

The private Education and Training institutions Law was issued by Decree to regulate private education and training establishments requirements.

2004

King Hamad launches the King Hamad Schools of Future project introducing ICT in the classes and connecting the system.

2004

Bahrain launches a programme of labour market reforms, including the creation of the Labour Market Regulatory Authority (LMRA) and Tamkeen, Bahrain’s independent authority, which formulates strategic and operational plans to invest in Bahraini employability (formerly the Labour Fund).

2005

The Higher Education Law was adopted.

2006

The Higher Education Council General Secretariat was established in 2006 and is concerned with matters related to higher education and scientific research under the direct supervision of the Minister.

2008

The Quality Assurance Authority for Education and Training was created by royal decree and amended in 2009.

2008

The Bahrain Polytechnic is inaugurated.

TOP UNIVERSITIES AND COLLAGES OF BAHRAIN Name

University of Bahrain Arabian Gulf University Arab Open University Royal University for Women Gulf University The Kingdom University

World Rank

Country Rank

4276 8628 9076 10217 20425 10452

1 2 3 4 5 6

@FindMeinBahrain

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iFinance and Insurance

A FINANCIAL PARACHUTE

Bahrain is home to over 400 financial institutions that operate on shore and off shore and is one of the world´s capitals of Islamic finance. Banking assets of Bahrain totalled $195.3 billion in March 2013.

Despite the social unrest and the knock-down effects of the global economic crash Bahrain’s financial sector has remained relatively untouched and continues to operate normally showing signs for further growth. The small island is home to over 400 financial institutions that operate on shore and off shore and is one of the world´s capitals of Islamic finance. Banking assets of Bahrain totalled $195.3 billion in March 2013.

Although the sovereign credit rating was downgraded at the core of the events, 2013 was inaugurated with hope and a rating improving from BBB negative” to stable”. A boost in business confidence, higher public expenditure and funds coming from the region, particularly from Saudi Arabia, suggest that 2013 will be a good year.

Even during the toughest moments of the uprisings in Bahrain back in February and March 2011, the banking sector worked without a single day of interruption and proved that it could continue,” Abdulkarim Bucheery CEO of BBK told GGC. Out of approximately 29 banks in Bahrain BBK is considered to be the largest of locally incorporated banks. They have been pioneers in many things but critically they were the first to introduce electronic banking services to the market. BBK owns the largest credit card company of Bahrain, CrediMax and offers different services such as banking, credit card services, Islamic banking, and has started to operate a specialised call centre.

“Though Bahrain’s 2011 political crisis weakened growth potential and damaged the country’s reputation as a business services hub, we believe a post-crisis status quo has been established,” stated the credit rating agency, Standard & Poors, in its report of January 2013. “The stable outlook reflects our opinion that political risks and the potential for sharp oil price declines are unlikely to be severe enough to lead to a downgrade @FindMeinBahrain

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Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain (CBB) >

BAHRAIN FINANCIAL SECTOR Regulator Financial Institutions Financial Sector Workforce Bahraini nationals Foreign nationals

Central Bank of Bahrain 406 14,342 9,467 4,875

March 2013 2010 66% 34%

Source: The Central Bank of Bahrain (CBB)

in the near term. Large-scale public investment and greater hydrocarbon production should support growth prospects”. Other agencies such Fittch or Moody’s published similar outlooks on Bahrain’s economy helping also to boost confidence across the island.

“If the country had been downgraded it would have been a very tricky exercise to raise the money the State needs to borrow during 2013 in both dollars and local currency. Nevertheless, in worse conditions last year we raised 1.5 billion dollars overseas and it was four times oversubscribed”, Patrick Gallagher, CEO of HSBC told GGC. The financial sector of Bahrain has traditionally been a major contributor to the country´s economy since it replaced Lebanon as the banking hub of the Arab world back in the 70s-80s. Driven by the need of economic diversification, Bahrain financial centre has invented and reinvented itself several times. Fierce competition from the region added to a global financial downturn and internal political problems have undoubtedly deteriorated the sector which in turn has proven its resilience to adversities once more.

“I don´t think we should be concerned about the region. It is actually good to have a global financial centre in the area complementing each other rather than competing against each other. But Bahrain has gone a long way before the rest. We started much earlier and we have created the most important element to sustain the financial sector: a skilful local workforce. The availability of skilful human resources is one of the most important elements to establish and grow a financial centre. Indeed we export our human resources to places like Saudi, Kuwait, Qatar, and the UAE.. We have very good legislation and the Central Bank of Bahrain, our market regulator, is very well known for its prudency and credibility. It will still take some time to any other player in the region to have such a credible regulator. Besides, we have in place all related supporting systems such as a good telecommunications network. Therefore, Bahrain is in an advanced stage of development where it can basically keep its position as a financial centre for some time to come,” said Bucheery.

Bahrain’s financial sector is well developed and diversified, covering a wide range of conventional and Islamic products. The sector

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Abdulkarim Bucheery CEO of BBK

Finance and Insurance

BANKING SECTOR A traditionally conservative fiscal policy, a prudent macroeconomic management and a strict regulator with a clear legislation have contributed to the good health of the sector and its stability in times of crisis.

Assets US$ 195.3 billion No. of institutions 114 Retail banks 29 Locally incorporated 14 Branches of foreign banks 15 Wholesale Banks 73 Representative Offices 11 Bank Society 1 Islamic Banks (included in above): No. of banks 26 Assets US$25.8 billion

March 2013 March 2013

March 2013 March 2013

Source: The Central Bank of Bahrain (CBB)

is regulated and supervised by the Central Bank of Bahrain (CBB), a well internationally recognised institution formerly known as the Bahrain Monetary Agency. It is the single regulator since 2002. The sector contributes to around 25 percent of the GDP and employs 14,342 people -most of them Bahrainis- which makes it the largest single employer of the country. Indeed, the banking sector played a pivotal role in the development of a welleducated, trained and skilled local workforce over the years. A traditionally conservative fiscal policy, a prudent macroeconomic management and a strict regulator with a clear legislation have contributed to the good health of the sector and its stability in times of crisis.

ISLAMIC BANKING BOOM

Bahrain is well known internationally as an Islamic finance hub.

It can claim its generous contribution to the market with some of the most successful Islamic finance products spinning off the tiny island. “Islamic Banking is a very relevant side of banking especially for Muslim countries where they are confined to a certain extent by certain roots and regulations (shariah). The industry has created products that became international and are now very well recognized as Sukuks for example. More and more banks, be them Islamic or conventional, are starting to have Sukuks portfolios on their books and I hope the industry will continue to create new successful products.” said Bucheery to GGC. Al Baraka Banking Group is one of the first Islamic banks established in Bahrain 1979 and one of the first of the Arab World. “At that time we had a mission and a message about Islamic banking that we needed to spread around the world. In fact, Al Baraka was the pioneer of Islamic banking in the whole world. We are today located in 14 countries with a total of 500 branches. Therefore, we consider a duty to expand Islamic banking.

We created many subsidiaries in countries like Algeria, Tunis, Egypt, Sudan, South Africa, Jordan, Lebanon, Syria, Turkey, Bahrain and Pakistan. Mainly in African, Arab, and Asian countries such as Pakistan and Turkey if you

consider them as part of Asia. We can say we established the mere concept of Islamic Banking and now it is everywhere worldwide with other Islamic institutions following Al Baraka´s lead. We created two Islamic banks in the UK and there are four now. Seven years ago we created the European Islamic Investment Bank (EIIB) as a wholesale bank with a paid-up capital of 400 million pounds that I was chairing for 5 years. The other is a retail bank called IBB. In America there is one Islamic bank called Al Reba Bank. In France we discussed with Christine Lagarde, when she was the Minister of Economy in France, the possibility of having an Islamic institution there and she did change some laws that would allow Islamic banking to operate in a normal way.

However Asia has become an Islamic finance hub. Islamic banking is booming especially in Thailand, Philippines, Indonesia and Malaysia. There are other still small hubs in Bangladesh, Sri Lanka and India and now some of the countries that used to be part of the USSR such as Kazakhstan are looking into Islamic banking. Last but not least, China is in favour of Islamic banking too. Contrary to common believe, Islamic Banking is not for Muslims; Islamic Banking is for all three religions: Muslims, Christians and Jews. As a matter of fact Christians operate with us almost everywhere.

Furthermore, our shareholders in Lebanon are Christians,” Adnan Yousif, CEO Al Baraka Banking Group told GGC. “Islamic banking is very simple. We do not inflate our business and we always provide financing only for the

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INSURANCE SECTOR Total No. of Insurance Companies & Organisations Authorised in Bahrain 160 March 2013 *excluding Appointed Representative

Domestic market Gross premiums US$ 556 million December 2010 No. of insurance firms 36 Locally incorporated insurance firms 25 Takaful & Retakaful Firms (included above) 8 Captives (locally incorporated, included above) 1 Overseas insurance firms 11 Insurance Brokers 31 Insurance Consultants 5 Insurance Managers 2 Representative Offices 5 Registered Loss Adjusters 11 Registered Actuaries 31 Insurance Ancillary Services 3 Insurance Pools & Syndicates 2 Insurance Society 1 Insurance Licensees Restricted 33 Insurance Firms restricted 27 Insurance Brokers restricted 4 Insurance Consultants restricted 2 Insurance Appointed Representative 16 Corporate 12 Individual 4 Source: The Central Bank of Bahrain (CBB)

requirements of the economy. The financial crisis started because the conventional banks dealt out of the scope of what we call strictly banking went into derivatives and bought and sold options and swaps. Their balance sheets, profits and portfolios were inflated and finally they found themselves in deep trouble.”

Silvan Varghese Chief Operating Officer and Acting Chief Executive Officer of Khaleeji Commercial Bank also agrees to the fortunes of Islamic Banking.

“Islamic banking is growing at between 15 to 30 percent annually and it will continue growing in the foreseeable future simply because is only 30 to 40 years old compare to the more than 400 years of conventional banking. But the most important point in my opinion is that Islamic banking in not here to compete with conventional banks. There is still a huge potential for growth in the region because the share of Islamic banks in the GCC is still not significant. And in fact we are

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According to figures released by the Central Bank of Bahrain, sector assets totalled almost $200 bn in 2013 against a GDP of 28 bn

INVESTMENT BUSINESS FIRMS Total no. of institutions No. of Investment Business firms Representative Offices

57 March 2013 48 March 2013 9

Source: The Central Bank of Bahrain (CBB)

witnessing a trend of conventional banks converting themselves into Islamic Banks, and that will possibly continue. But more importantly I think there is an increasing expansion into other regions including Europe. There is a major potential in South East Asia and Africa. It will be natural to expand into the untapped territory of North Africa and the Sub Sahara where culture and religion are a plus”.

TALES OF EXODUS

During the worst of the crisis some wholesale banks did find some economic difficulties in Bahrain but an exodus didn´t happen, as it has been reported. Local commercial banks did not only open new outlets but also showed positive balance sheets. They remained almost untouched. “In late 2011 there were a few banks that pulled out of Bahrain but the crisis wasn’t necessary the reason for them to leave. Credit Agricole for example shut down operations in 20 countries and the size and economy of Bahrain made it the perfect candidate for that list. Bahrain was not affected like Dubai due to the real estate bubble. The majority of banks were not affected and I don’t think that Islamic banking was affected at all,” Abdulkarim Bucheery CEO of BBK told GGC. However, the crisis underlined the acute importance for business in Bahrain to diversify its investments. “We were basically sucking wealth out of Bahrain because they felt they were overexposed and that was intensified over the crisis but not because of it. Some of that money is now coming back to the country,” argued Gallagher.

Finance and Insurance

SPECIALISED LICENSEES Total no. of institutions Money Changers Fund Administrators License Registrar License Registered Administrators Financing Companies Microfinance Institution Trust Service Providers Ancillary services Registered Professional Body

48 March 2013 18 1 1 1 8 2 3 13 1

Source: The Central Bank of Bahrain (CBB)

Adnan Yousif, CEO Al Baraka Banking Group

“Bahrain is a different market from Dubai, Kuwait or Qatar.

Bahrain is an international hub and anything that happens internationally reflects in it. Every five to six years there is an economic crisis in every country. There is growth, then stability and finally decline. After that it goes back up”, said Adnan Youssif, CEO of Al Baraka told GGC. There are 406 financial institutions in Bahrain licensed by the Central Bank from which 114 are banks and the rest Funds and Finance companies. 29 institutions are commercial banks that deal with local customers and end-consumers and are both Islamic and conventional banks and the rest are either investment or offshore bank units, what is called wholesale banks, that close deals all over the Middle East domiciling them in Bahrain attracted by a zero tax policy.

The larger conventional banks and foreign banks remained in good health in general with strong balance sheets and highly capitalise. The foreign banks like HSBC are in relatively good shape with no bad debts. “We are actually a bigger bank that what we were before the crisis” Gallagher pointed out. “But there are too many small Islamic banks that are not really successful. Their balance sheets are 80 percent real estate and it is very difficult to get out of that”. HSBC opened its first office in Bahrain in the 70s and has now three offices from which they domicile deals over the Middle East and fund them from offshore.

TOWARDS CONSOLIDATION

Patrick Gallagher, CEO of HSBC

According to figures released by the Central Bank of Bahrain, sector assets totalled almost $200 bn in 2013 against a GDP of 28 bn. It competes with countries like Saudi Arabia, with 27 million people or the UAE, and ranks in the top positions of the region. Assets in the region grew by 12 percent in 2012 to $1,47 trillion driven by higher public expenditure, which was in turn supported by high-energy prices.

The aftermath of the crisis has reopened the debate about the need of consolidation of the market formed by 405 institutions to keep up with its competitiveness and create stronger financial institutions that can bid in large infrastructure projects spreading across the region.

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CAPITAL MARKET Market Capitalisation US$ 15.9 billion March 2013 No. of firms 27 March 2013 Licensed Exchanges 2 Licensed Clearing, Settlement and Central Depository Systems 1 Licensed Securities Brokers 4 Licensed Securities Dealers 1 Licensed Securities Clearing Member 7 Licensed Securities Broker Dealers 12 Source: The Central Bank of Bahrain (CBB)

“There is a small bunch of institutions that should be merged and there are certain products that should be added to the market, both Islamic and traditional.

We should place new products to avoid just lending for the sake of lending. We should identify adding value products that encourage the economy to grow healthy”, Adnan Youssif told GCC. Recent consolidation of the sector includes Ithmaar Bank merger with First Leasing Bank and three-way merger between Elaf Bank, Capital Management House, and Capivest to create an international group with assets in excess of USD400mn.

“Since the crisis there has obviously been a lack of commercial confidence across the island. We have all tightened our belts because banking is no longer as successful as it was in the 2000s. It is more difficult to make revenue but not only down to the fact that we had a crisis here two years ago,” emphasized Gallagher. “Bahrain is a very small and saturated market. In 2011, the worst year of the crisis, we opened three branches and in 2012 we opened two more.

In general I think there is a trend towards consolidation. But will this really happen in practice? Nobody really knows. We have too many small banks that won´t be sustainable in the long-term. There has to be more pressure from regulators because Bahraini banks need to be more competitive. They are really competing with huge banks such as banks in the UAE, Qatar and Saudi Arabia”

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Silvan Varghese, Chief Operating Officer and Acting Chief Executive of Khaleeji Commercial Bank

Varghese explained GCC. “There has been some consolidation already but unfortunately in a very small scale and definitely not to the extent that we would have wanted. I think there are too many banks. . Consolidation is a very important aspect to operate in a very solid ground and have the ability to be engaged in mega-projects. However, I think it will take time in Bahrain for different reasons but basically because the shareholders are quite content with the performance of their own banks and because there is always the owner dominating factor that psychologically is difficult to loose.” says Bucheery

FINANCING THE STATE

As a country with a heavy social coverage that includes subsidies and public sector salaries; a country that doesn´t levy any corporate or personal taxes and a country with limited oil reserves that runs a burdened Sovereign Wealth Fund, state finance and project finance is a key element of politics. Higher public expenditure is expected to boost the economy over the near future but there is a risk of incurring in higher deficits and increasing the GDP to debt ratio. The difficult exercise of stimulating the economy with limited resources will probably urge the government to find collateral solutions and introduce some sort of private funds in the form of public private partnerships (PPP) in the short term.

“What we call the Sunni merchant class that run Bahrain and owns Bahrain in reality is unwilling to invest at this time. During 2012 it got slightly better after we went through the anniversary phase of February 2011, which was a difficult phase. Up until the beginning of Ramadan last year things were fairly buoyant and there was the feeling that the solution

Finance and Insurance Fuad Taqi, AGM Commercial Banking in Khaleeji Commercial Bank

FUNDS INDUSTRY Authorised Funds NAV US$ Local Funds NAV US$ CConventional-Local Islamic-Local Foreign Funds-Offshore

2,811 March 2013 8.39 billion September 2012 108 5.14 billion September 2012 57 51 2,703 March 2013

Source: The Central Bank of Bahrain (CBB)

was coming. But that never happened because there was no dialogue at all last year. Ramadan itself was quite a noisy period in the street. Confidence dropped down and it never truly improved through the end of last year.

Now it looks like there is some sort of new dialogue after 14 months. That is positive but we wouldn’t be holding our breath for any silver bullet solution too quickly. There is significant polarisation at both sides, which is negative.”

UPCOMING BIG DEALS

In 2013 BAPCO will have to raise $5 bn in 2014 and ALBA $2,2 bn. Earlier projects include the GIPC $1,5 billion or the $800 of the airport expansion.

There are some big deals coming up soon to the market that will be condiment by the much-awaited $one billion per year GCC Fund locally known as the GCC Marshal Plan which after two years of negotiations seems that will start pouring down at the pace of one million per year and only allocated to projects. “That has changed heavily over the time. When the rating was downgraded the push of the government was to use Saudi money to repay foreign debt. But that wasn’t going to help the economy in any concrete way. So they agreed to do it on a project-by-project basis and more lately Saudis hinted at the option to reimburse the money only when the project had been accomplished. That is very different. So at this point we are sure that it will happen but they need to find a mechanism for it to happen,” explained Gallagher to GCC. In the meantime some local projects will start. BAPCO will have to raise $5 bn in 2014 and ALBA $2,2 bn. Earlier projects include the GIPC $1,5 billion or the $800 of the airport expansion. “Bahrain is very competitive market with too many banks fighting for a small portion and for it to grow the government needs to step in and provide stimulus to the economy whether it is in real estate or others, they have to expedite their projects, so investment will flow. The change will depend on how fast we can put this in circulation,“ Fuad Taqi, AGM Commercial Banking in Khaleeji Commercial Bank told GCC. “I think in the short term growth will be supported mostly through public spending and government support.

Bahrain last year approved the largest budget of the history of the country.

They allocated substantial amounts for infrastructure projects. We were all hopeful that the spending would start from last year but unfortunately for a reason or another they have not started yet. And there is also the $10 bn GCC fund known as “Gulf Marshall Plan” that will be invested mainly on infrastructure. Once you start spending on Infrastructure everything else will start to move”. HSBC has been appointed advisor on BAPCO´S project-

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The aftermath of the crisis has reopened the debate about the need of consolidation of the market formed by 405 institutions to keep up with its competitiveness and create stronger financial institutions that can bid into regional mega projects

financing process, which is the largest onshore project ever, attempted in the history of Bahrain. “We will go to the market in early 2014 to raise around 4.5 billion for the development of the project during 14-16. They need to get it right but the country’s rating has been downgraded three notches since the beginning of the crisis and we have almost no European banks that want to come to play in the Middle East as they did four years ago. We will look for different pulls that will most probably come from countries like Saudi, regional Gulf banks and more likely Asia. It is difficult but certainly doable.

And the fact that Bahrain has now reached a level of civility and S&P has reaffirmed the rating looks like, unless things get much worse politically which is highly improbable, future is promising. We have probably reached the bottom and we are only about 150 points to where we were two years ago. It is not so bad. Those metrics are very decent. But how much more is Bahrain going to borrow? How high the ratio debt to GDP will get? It will most likely cruise the 40 percent but this is how far it will get unless oil goes back at less than 100 bugs. However, in terms of deals to help the economy, there is a critical need of low-cost housing with 60,000 families on a waiting list that is increasing all the time. Bahrain needs to build 7,000 to 10,000 low cost houses per year for the next 7-8 years to meet the demand,” Patrick Gallagher, CEO of HSBC told GCC.

A MISCOMMUNICATION FAILURE

Bahrain´s reputation as a politically stable and friendly country was nevertheless damaged. The business community agree that local authorities failed to communicate with both,its own citizens and the rest of the world that was watching during the dark days of the crisis.”The country still finds it very difficult to get the message across overseas but actually very little has changed in how Bahrain operates. Gallagher told GGC. “We are still very much the home of fund management, we are very much the home of Islamic banking and Islamic Insurance. The regulation is superb, the central bank is very pragmatic and a great regulator. The infrastructure around finance including the human resources is there and there is a great ease of liveability in Bahrain. I would not want to live in Doha and clearly no expats want to live in Riyadh for obvious reasons but for mid careers bankers Bahrain is a really good place to live. HSBC writes an expat index of liveability 84

per country and Bahrain scored number two to Canada in 2010 and number 5 in 2011.

It won’t fall off the cliff purely because of the local issues. It is also cheaper to have operations here than in Dubai. There is a 25 percent difference that is unlikely to change and in fact this disparity is more likely to grow to 30 to 35 percent. With financial services being not as remunerative as they used to be, cost lines are taken very seriously.

In our case, as HSBC, we are not going to change our model with the three banks we have here. The fact that Bahrain continued to operate completely successful during its crisis is a testament of good regulation”.

INSURANCE GROWTH

The traditional and Islamic insurance sector in Bahrain has a huge potential for growth in the Arab world. Insurance expenses per capita in Europe and in Bahrain stand at a ration of 100 to 5. The sector has been growing at 7 to 8 percent yearly and will continue to do so especially as awareness of the importance of insurance grows. “Insurance is an integral part of life and it is actually the way of sharing risks”, Mahmood Al Soufi, Chief Executive of BNH told GGC Greater coordination between of the sector in the market and in the region to share the business and risks will benefit the sector. “Also, it will help redirect the two thirds of the 7bn premium insurance written in the MENA region that currently go to the US or Europe”, Al Soufi said. BNH is a holding company which core investment is the insurance business activity. The company has been operating for around 40 years although it was established as BNH in 1998.

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iEnergy Resources

DIVERSIFICATION AND OPTIMIZATION

Bahrain was the first Gulf State to discover oil in 1932, the first to outline a national strategy towards a diversification of the national economy and the first to build a refinery in the region.

Blessed with black gold or condemned by it Bahrain´s oil and gas sector still accounts for three quarters of government revenues despite the efforts made to diversify the economy and reduce its dependence.

Bahrain was the first Gulf State to discover oil in 1932, the first to outline a national strategy towards a diversification of the national economy and the first to build a refinery in the region. Today Bahrain has relatively limited proven reserves that account for around 100 billion bbl and produces around 45,000 barrels per day (bpd) from the onshore oil reserves of Awali field in central Bahrain.

New oil recovery techniques, new and deeper exploration and a fresh investment of $15 bn up to 2030 predict that oil production in Bahrain will rise to 100,000 bpd by 2020. Only in Awali field production is expected to rise from 45,000 bpd in 2012 to reach 60,000 bpd by 2016 using new technologies. Gas production capacity is expected to grow from the current level of 1.7 billion cubic feet per day to over 2.5 billion cubic feet per day.

After a long territorial dispute with Qatar, the International Court of Justice awarded sovereignty to Bahrain over the Hawar Islands in March 2001. Short after the country started awarding drilling concessions to foreign oil companies. Two blocks of Bahrain´s offshore reserves were awarded to Petronas (Malaysia) and to ChevronTexaco.

Bahrain also holds an output equity share of 150,000 barrels per day (bpd) in the Abu Safah offshore field managed by Saudi Arabia. The average sales price for Bapco’s share of Abu Safah field crude was $106.00 per barrel in 2011, up from $76.60 in 2010.

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Dr. Ali Mirza, Minister of Electricity and Water Only in Awali field production is expected to rise from 45,000 bpd in 2012 to reach 60,000 bpd by 2016 using new technologies. Gas production capacity is expected to grow from the current level of 1.7 billion cubic feet per day to over 2.5 billion cubic feet per day.

CRUDE OIL (BBL/DAY) Production

Crude Oil

Consumption

44,800 2012 est.

Exports

Imports

Proved Reserves

152,600 2012 est.

256,000 2011 est.

107.2 million bbl 1 Jan. 2013 est.

Source: CIA – The World Factbook

BAPCO OVERHAUL

The state company in charge of oil exploration, development, distribution, marketing and refining is Bahrain Petroleum Company (BAPCO).

It was established in 1929 by Standard Oil Company of California and it was the one to discover oil first in 1932. Nowadays the Government of Bahrain wholly owns it. BAPCO owns a 262,000 bpd refinery, storage facilities for more than 14 million barrels, a marketing terminal, and a marine terminal for its petroleum products. Bahrain refines its own oil to produce and export refined oil products. Around 95 percent of its production is exported to Middle East, India, the Far East, South East Asia and Africa. BAPCO´s refinery is one of the largest of the region and the oldest of the GCC. In 2011 Bapco approved the long-term strategic plan to achieve Bapco’s objective of creating a world-class, technologically advanced and energy efficient refinery with an increase in its production capacity from 265,000 bpd currently to a potential 450,000 bpd by 2019.

Refined Petroleum Products (BBL/DAY)

Refined Petroleum Products

Production

Consumption

Exports

Imports

270,800 2012 est.

51,450 2012 est.

226,000 2012 est.

0 2012 est.

Source: CIA – The World Factbook

“Bapco is at the dawn of an exciting new era in its history. It is now entrusted with a series of major strategic investments which will transform the Refinery from merely a world player to global leader with an expanded processing capacity and higher value product sale,” stated the former minister of oil and chairman of NOGA, Dr. Abdul-Hussain bin Ali Mirza in the 2011 Bapco´s annual report.

Recent global economic and local political challenges have caught the oil and gas sector of Bahrain in the middle of a sector overhaul to improve both upstream and downstream industries that are expected to double the total production of oil and oil refined products. The sector still reported a good performance and even registered the Refinery’s record crude run of 271,287 bpd in November.

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Energy Sources

1980

Establishment of Supreme Council for Oil under the chairmanship of H.H. Shaikh Khalifa bin Salman Al-Khalifa, the Prime Minister

1980

The Petroleum Marketing Unit is set up in the Ministry of Development & Industry with the aim of marketing the Government’s 60% share of products from the Bahrain Refinery

1981

BAPCO reconstituted as a joint venture refining company owned 60% by the Bahrain Government and 40% by Caltex

1982

BANOCO assumes full and direct responsibility for production of oil and gas from Bahrain field

1983

The Petroleum Marketing Unit integrated into BANOCO to form the International Marketing Department

1985

Incorporation of Bahrain Aviation Fuel Company (BAFCO) in which BANOCO shares 60%, Caltex 27% and BP 13%

1994

The Bahrain Refinery awarded ISO 9002 Certification from British Standards Institution (BSi)

1997

The Bahrain Government assumes 100% ownership

1999

The new BAPCO is formed following the merger between The Bahrain Petroleum Company B.S.C. and The Bahrain National Oil Company

2000

Start of petroleum products in-line blending and introduction of unleaded gasoline to the local market

2001

Kerosene Merox units commissioned as part of the Refinery Modernisation Plan

2002

Launch of new Bapco Strategic Directions

2004

Contract signed to execute Low Sulphur Diesel Production Project

2005

US$1.1 billion financing secured for investment programme

2007

Start-up of Low Sulphur Diesel Production complex

Ahmad Al-Ohali, BAPCO CEO

Sheikh Mohamed bin Khalifa Al Khalifa, Chief Executive of Banagas

BAPCO TIMELINE 1929

BAPCO established by Standard Oil Company of California

1932

First oil discovery

1934

First shipment of crude oil

1936

The Bahrain Refinery - with a capacity of 10,000 barrels per day - opened

1945

A-B pipeline laid between Bahrain and Saudi Arabia; then the world’s longest commercial submarine pipeline

1948

Discovery of natural gas

1968

Bahrain Refinery expansion programme completed with 250,000 barrel-a-day capacity

1976

Incorporation of the Bahrain National Oil Company (BANOCO)

Source: BAPCO

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OIL & GAS PRODUCTION (,000 BARRELS) 2011 Crude Oil Bahrain Field Abu Saafa Field Gas* Refinery Liquids of Gas Petrochemical**

69,452 15,516 53,936 552,118 96,026 3,933 1,575

*Million Cubic Feet / **Thousand Metric Tons Source: National Oil & Gas Authority Oil and Gas Facts and Figures 2012

THE NOGA ACHIEVEMENTS

In 2002, a sector regulator and policy maker was created by royal decree. The National Oil and Gas Authority (NOGA) replaced the Ministry of Oil and consolidated the previous Bahrain National Oil Company and Bahrain Petroleum Company. In 2009 Nogaholding, the business and investment arm of NOGA, created Tatweer Petroleum with the only task of increasing oil production in Bahrain to meet future energy demands and comply with the goals outlined in the Economic Vision 2030. Tawteer is a joint venture between Nogaholding, Occidental Petroleum Corporation and Mubadala Development Company from UAE and is expected to more than double the production of oil and gas in the next decade utilising the latest oil recovery technologies.

“Every effort is also being made to guarantee long-term national energy security and Bapco is helping propagate other major projects to this effect, which will be important elements in our modern nation. One such project is a Liquefied Natural Gas (LNG) receiving terminal for the Kingdom for which 14 international companies were selected as potential partners and invited to tender,” said Mirza.

Tawteer is a joint venture between Nogaholding, Occidental Petroleum Corporation and Mubadala Development Company from UAE and is expected to more than double the production of oil and gas in the next decade utilising the latest oil recovery and other technologies.

THE GAS INDUSTRY

In 1979 the first Associated Gas Project was inaugurated by late emir Sheikh Isa Bin Salman Al-Khalifa to use the large quantities of associated gas extracted from the Bahrain Oil Field. The Project was incorporated as the Bahrain National Gas Company B.S.C. (BANAGAS), 75% owned by the Government of Bahrain with the remaining 25% equally owned by the Arab Petroleum Investment Corporation and Caltex Bahrain, now Chevron Bahrain. At a cost of US$100 million the project included the construction of four gas compressor stations, a processing plant to recover Propane, Butane and Naphtha, and a storage area at Sitra.

NATURAL GAS CU M)

Natural Gas

Production

Comsumption

Exports

Imports

Proved Reserves

12.58 billion 2010 est.

12.25 billion 2010 est.

0 2010 est.

0 2010 est.

92.03 billion 1 Jan. 2012 est.

Source: CIA – The World Factbook

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Energy Sources

An Expansion Project was launched in 1988 to upgrade plantprocessing capacity from 170 to 280 MMSCFD. The Project was commissioned in October 1990 and in 2003 another compressor station was constructed as part of the Project to process additional quantities of associated gas, as well as propane and butane-rich refinery off gas under an agreement with the Bahrain Petroleum Company (BAPCO).

In 2008, the Project was converted into an independent company, the Bahrain National Gas Expansion Company S.P.C., solely owned by the Oil and Gas Holding Company (Nogaholding). Two years later the Arab Petroleum Investments Corporation sold its stake in Banagas to Boubyan Petrochemical Company (K.S.C). Gas production in Bahrain totalled 552 billion cubic feet in 2013.

ELECTRICITY UPGRADE Diversification to new sources of energy is a priority of the government of Bahrain. As part of its strategic economic plan, Vision 2030 the country plans to invest in renewable alternative energy resources and recycling. “The Government’s vision for the Electricity and Water long term development are two folds. First, ensuring long term availability of the natural gas supplies for Power and water production for the next 20 to 30 years; and second, to expand the share of renewable energy resources and achieve a target of some 10 to 15 % composition during the next 20 years.

We know that solar power and wind power and associated smart grid are critical elements to Bahrain developing economic and energy security,” Dr. Ali Mirza, Minister of Electricity and Water Affairs told GCC.

INSTALLED GENERATING CAPACITY Installed Generating Capacity Electricity from

Fossil fuels Nuclear Plants HydroelectricPlants Other Renewable Sources

3.168 million kW 2009 est.

Of total installed capacity

100% 2011 est.

0% 2011 est.

0% 2011 est.

0% 2011 est.

Source: CIA – The World Factbook

The government of Bahrain wants to expand the share of renewable energy resources and achieve a target of around 15% composition during the next 20 years. Foto del pozo de petróleo sustituirla por alguna de energías

In 2011 a High Energy Committee was created by decree to optimise investment of available resources and ensure appropriate alternatives. The Electricity & Water Authority (EWA) has also undertaken to explore the potential for renewable energy sources particularly solar and wind to produce electricity and possibility for water desalination. One of the first initiatives in the renewable energy development undertaken by NOGA is the Solar project in Awali/Refinery. The NOGA, BAPCO and Petra-Solar Company signed an agreement for the establishment of 5 MW distributed smart solar Energy pilot project with smart grid to be set up in the town of Awali, Bahrain. EWA has recently appointed the German consultant

renovables, solar, preferiblemente. pero esta foto me encanta y me gustaría conservarla en cualquier otra parte de esta sección. quizás justo arriba y quitar esa de la refinería.

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(Fitchner) to conduct a feasibility study to assess Bahrain’s potential for solar and wind resources and evaluate the effectiveness of these sources under Bahraini conditions for large-scale applications in the future.

EWA has also established a “Centre for sustainable Energy” to focus on unifying the efforts on renewable energy and energy conservation. “Various initiatives are being undertaken at different levels within the Government at the moment to address environmental requirements such as undertaking strategic options for renewable energies, enhancing energy conservation strategies and promoting better public understanding and education in their perception towards conservation”, Dr. Mirza explained to GCC. One of the major developments that came recently on stream is Al Dur Power and Water Plant - Phase I at a cost of $ 2.2 billion. This plant is a Greenfield project natural gas-fired installation, located in the south of Bahrain that will guarantee the delivery of 1,234MW of electricity and 48 MIGD water (218,000 cubic meters per day).

“Due to rapid economic development, the electricity consumption level per capita in the Kingdom has averaged around 9,260 kilowatt-hours per capita. This figure is in line with the neighbouring countries consumption but exceeds the world’s consumption average and is higher than the industrialized nations consumption, such as US, Japan, and Germany,” said Mirza.

The strategy that the Bahrain Government has undertaken over the past 10 years has been to outsource all Electricity and Water production facilities to the private sector, as part of its drive for foreign direct investment. This has been in the form of IPP (Independent Power Production) or IWPP (Independent Power and Water Production).

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An important initiative in the power system development of Bahrain is the construction of a 400 kV transmission system, which will provide the future backbone of the transmission system and will overlay the existing 220kV transmission network and mitigate high-fault level problems.

The cost of the expansion during the past three years and the forthcoming three years may reach more than $800 million. The future dictates stronger interaction between the public and private sectors following the current expansion of the electricity sector in the region. “We are currently preparing Phase II of Al Dur power plant development which will be tendered to the private sector in 2013. This phase is estimated to cost between USD 1.5 to 2 billion, and we look forward and welcome private sector investment in it,” the Minister of Water and Electricity told GCC. Bahrain’s electricity requirement is largely met through power plants, which are run with natural gas. “Reserves of natural gas in Bahrain are depleting and there might be indications that in the future we will be forced to import natural gas for running these power plants to supply electricity to domestic, commercial and industrial customers if efforts for discovering new sources do not bear fruit. Therefore it is very important that concerted efforts are made to harness other sources of renewable energy mainly solar and wind energy as it is available in abundance throughout the year in Bahrain and the region,” Dr. Mirza said.

Energy Sources

MEETING WATER DEMAND

Water supply in Bahrain comes largely from seawater desalination plants and ground water resources that are treated to a certain standard before delivered to customers. Ground water resources are depleting and restrictions are in place to prevent over extraction of ground water.

Bahrain has presently a total water production capacity of the order of 210 Million Imperial Gallons per day (MIGD), of which 90 % comes from desalinated water and the rest from natural resources (i.e. ground water abstraction).

Water consumption per capita for Bahrain has been similar to other GCC countries, and is one of the highest in the world. In the case of Bahrain, the consumption level currently approximates to 125 imperial gallons per day, five times the average level of international standard. Demand is expected to rise at an average rate of 3-4 % per annum, despite the various control and conservation measures that are being adopted to curb the rise without sacrificing the social development. The peak water demand is expected to reach some 345 MIGD in 2030, which amounts to twice the present water capacity and availability level. EWA is presently evaluating all options with regard to the water production assets that it owns. Many of these assets are expected to reach their end of life expectancy and strategic decisions are required to determine whether the way ahead will be to retire these assets or to rehabilitate them to suffice operation for at least a further 15 years. EWA is in the process of appointing a consultant to develop a long-term master plan (2015-2030) for electricity and water.

Reserves of natural gas in Bahrain are depleting and there might be indications that in the future we will be forced to import natural gas for running these power plants to supply electricity to domestic, commercial and industrial customers if efforts for discovering new sources do not bear fruit�. Mirza.

WATER PRODUCTION Capacity and ownership between Private Sector and Government Source: EWA

3% Alba (Aluminium Bahrain. Private Sector)

Ground Water Abstraction Al-Dur RO 3%

7%

Ras-Abu Jarjur RO 7%

Hidd Power Station (HPC) Private Sector

44% Sitra Power & Water Station

12%

29%

Governement Ownership

71%

24%

Private Sector Ownership

AlDur Power Station Private Sector

@FindMeinBahrain

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iIndustry and Commerce

DOWNSTREAMING BAHRAIN´S TREASURES

Aluminium Bahrain (ALBA) is the largest aluminum smelter in the region and one of the top five globally. It produces more than 890,000 tonnes per annum of the highest grade aluminum. Half of the output is supplied to the local industry and the rest overseas.

As the first country to discover oil in the region, Bahrain was also the first country to start the industrialisation process that grew around the upstream oil and gas industry and continue expanding towards downstream industries today. Petroleum refining started modestly soon after the discovery of oil with BAPCO refinery becoming the first established in the region. The refinery in Sitra has currently an output of around 270,800 bbl/day. Since Bahrain oil production stands at less than 45,000 bbl/day most of the oil comes through pipelines from neighbouring Saudi Arabia. Over 80 percent of the refinery´s production is exported. In 1979 the Bahrain National Gas Company (BANAGAS) opened a gas liquefaction plant. Aluminum Bahrain (ALBA)s inception marks the beginning of Bahrain’s strategy to diversify its economic base and reduce its dependence on oil. The aim was to establish an industry that would provide valuable export earnings, develop the country’s resources and create training and employment opportunities for a large number of Bahrainis. ALBA was incorporated by Charter in 1968 and officially commenced operations in 1971 as a 120,000 tonnes per annum smelter. ALBA today produces more than 890,000 metric tonnes per annum of the highest grade aluminum, with products including standard and T-ingots, extrusion billets, rolling slab, propertzi ingots, and molten aluminum. Around 50 per cent of the output is supplied to Bahrain’s downstream aluminum industry (namely Bahrain Atomisers International, Midal Cables, Garmco, AluWheel), with the rest exported to regional and international customers in the Middle East, Europe, Far East, South East Asia, Africa, and North America. Aluminum Bahrain (ALBA) employs around 3,000 employees - as at December 31, 2012 - of which 87% are Bahrainis.

Following the IPO in 2010, ALBA is currently listed on London Stock Exchange as GDR as well as on Bahrain Bourse. ALBA’s major stakeholders @FindMeinBahrain

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are Bahrain´s sovereign wealth fund, Mumtalakat Holding Company with a 69.38%, Sabic Industrial Investments Company with a 20.62% and 10% is public.Bahrain prime industries are aluminum, petrochemicals, and steel. Their outputs are downstream in other products creating a new set of side industries in Bahrain that generate the bulk of the industrial employment. 2010 saw the launch of Salman Industrial City, which combines the Bahrain International Investment Park, the Bahrain Investment Warf (BIW) and the Hidd Industrial City. Investments in Salman Industrial City currently stand at around $3.5 billion and are expected to reach $7.6bn on completion.

A SHELTERED EXPORT INDUSTRY

The export-oriented industry suffered the consequences of the local uprisings of 2011 but especially the global financial turmoil. However, most of the companies in the sector did well and plans for new investments are on the table. “We are part of the overall economy and everybody was hurt. But as far as we are concerned, we are looking at the future, consolidating, sharpening our pencils, organizing our companies and trying to be more efficient.

Against a backdrop of difficulties, our industrial division did well because it depends on exports. We downstream ALBA´s output and we export it. Around one third of our production goes to the MENA region and the rest to Europe, North America, South America, Africa, and Southeast Asia,” Khalid Al Zayani, Chairman of Zayani Investment and a leading business figure in Bahrain told GGC. Al Zayani Investments operates a diverse portfolio of businesses that span the fields of industry, banking, automobile real estate, tourism and services. A mix of International joint ventures and national expertise with an eye for business are at the core of the conglomerate´s expansion secret. The company will inaugurate a new industrial venture in 2014 as a joint project with a French firm. With a total investment of $30 million the plant will produce embracive material produced from ALBA´s output and then exported to India, Southeast Asia and Africa. “It will grow, it will multiply”, Zayani said.

Total employment will amount to some 200 people most of them locals. “We have used the difficult times to build our locations and prepare our human resources”, Zayani noted.

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Bahrain is one of the freest economies of the Middle East and although it is a small country it has always managed to attract big corporations from overseas that use the country as their springboard to the Gulf and the MENA region.

“A global issue affects everybody. The important aspect is how you mitigate and counterfeit it with different plans. People like ALCOA lost US50 million in 2009.

GARMCO made a profit. That gives you an indication of our performance. You need to have a solid base and a good reach of your market and then apply the basic principle on how to maintain your customer base by increasing their satisfaction.

In 2011, 392 banks collapsed in America. GARMCO added 12 American customers to its portfolio. We have three offices in the US now. One of our biggest customers is Tefal that produces home utensils with aluminum. We have been supplying them for seven years without a single failure or confrontation”, Dr. Adel Hamad, CEO of GARMCO told GGC.

LOCATION, TAXES AND WORKFORCE

Bahrain´s geographical location and infrastructure facilities are the main source of attraction to inward investment increasingly towards industrial projects related to oil and gas. “Don’t look at Bahrain as a single market. Out of Bahrain you can serve Eastern Saudi Arabia –linked to Bahrain

Industry and Commerce

Dr. Hassan Fakhro, Minister of Industry and Commerce of Bahrain Khalid Al Zayani, Chairman of Zayani Investment

through a 26 kms causeway -which accounts for nearly 80 percent of the country´s GDP and all the neighbouring countries. In fact, our business has multiplied in the region and now we export to East Africa, India, and Pakistan and as far as the Philippines.

Some of our partners chose Bahrain to established their regional business against other countries in the GCC because of its connectivity and because Bahrain is the most regulated country in the region, has an outstanding local workforce, easy access to KSA, the biggest consumer market of the region, and is the more liveable. We have pride in the skills of our younger generation.

Education is second to none in the area and we have good infrastructure and good health services”, he Zayani added.

Bahrain has also a zero tax policy that represent a huge benefit for international companies seeking to operate in the Middle East. However, talks around the possibility of establishing some kind of corporate taxes are on the table. “We should be mature enough to look at it if it is reasonably placed for the benefit of the nation and discussed and approved by the parliament, who represents the nation.

Don´t forget that Bahrain has no taxation, unlike the rest of the Gulf States, but still has to build hospitals, roads and schools”, Zayani told GGC. Another factor of concern in the development of the downstream industrial base of Bahrain is the country´s limited oil & gas reserves. Although new technologies are applied to search for deeper oil and improve current production, government revenues from black gold are limited in

time. The industry feedstock will increasingly depend on more expensive imports from neighbouring Saudi Arabia, with the largest oil reserves in the world or Qatar, the world´s third natural gas exporting country. To improve connectivity between Qatar and Bahrain a planned “Friendship Bridge” is expected to be operational by 2022, before the celebration Football World Cup in Doha, Qatar.

AN EYE ON LIGHT INDUSTRIES

The Vision 2030 foresees the creation of a new line of industries: the light industries sector. “Bahrain has to be an industrial and service country”, said Ahmed Al Ahmadi, CEO of Ahmadi Industries -Pepsi Bahrain. The kingdom is resolve to implement a Bahrain´s Economic Vision 2030 stretched out by the government in 2008 when the Bahrain Economic Development Board (EDB) was created. It contemplates the creation of a regional logistic hub with modern infrastructure that will seed the birth of new light industries with a regional focus. Industrial zones in Bahrain are multiplying and following the success generated by the Bahrain International Investment Zone or the Bahrain Logistics Zone. Bahrain Logistics Zone (BLZ) is the Middle East’s first multi-model logistics hub that focuses on re-export and value-adding activities. Strategically located adjacent to Khalifa Bin Salman Port, which offers state-of-the-art warehouses the complex is 13km from the Bahrain International Airport and only 40km from Al Khobar in Saudi Arabia. New projects such as Bahrain Investment Gate Project (BIGP)

by Al Manara Investment Company are expected to start operations soon and cater to the needs for logistics and freight forwarding activities of a growing regional economy. BIGP presents a number of solutions to light industries with an strategic location and linked to a modern transport system.

THE GOVERNMENT APPROACH

Bahrain is one of the freest economies of the Middle East and although it is a small country it has always managed to attract big corporations from overseas that use the country as their springboard to the

@FindMeinBahrain

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Bahrain City Centre and Kempinski Hotel view at night.

Source: Kempinski

Unlike the industrial sector, the retail sector felt the shock as a whole dependant on the local consumer confidence that dropped to minimun during the uprisings and haven´t recovered completely despite the signs of economic recovery, higher public spending and credit flow.

Gulf and the MENA region. Efficiency in all things, ease of doing business, a world-class infrastructure, connectivity and a lean and transparent governance are the magnet to foreign investors. However, the economy of Bahrain and the image of the country have been recently eroded due to the uprisings that swept the country on the back of the Arab Spring. “If we judge only by the figures, it is clear that the development of new projects into the Bahrain International Investment Park (BIIP) for example has increased significantly over the past 2 years regardless of the street demonstrations and political instability,” Dr. Hassan Fakhro told GGC. “BIIP was established in 2005 and by 2010 a total of 60 new projects had been approved to locate operations here. 26 of these projects were FDI. This works out at an average of 10 projects per year. In 2011, 12 new companies (5 FDI) committed to establishing their operations here. By June 2012 a further 15 new projects (10 FDI) were approved to locate operations here including some of the largest companies in the world --BASF and SIEMENS from Germany and JBF from India. By June 2012 total committed investment had grown to BD551m up from BD327m at the end of 2010.This trend is continuing into the 2nd half of 2012”, Hassan Fakhro, Minister of Industry and Commerce of Bahrain told GGC.

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A NEW ECONOMIC CITY

The Ministry of Industry and Commerce is also developing a new Economic City that will create a paradigm shift creating new industrial and business clusters. The New Economic City represents a major investment and an achievement set in Bahrain Vision 2030. The phased development of an integrated economic city is to be constructed between now and 2035 totalling 93 sq. km. in area. The local Bahraini population is projected to grow from 1.3 currently to 1.8 by 2040. The economy will diversify towrads value added manufacturing and service sectors from its current focus.

To accommodate the demand generated from the manufacturing sector alone an additional approximately 7,800 hectares of land will be required.

According to the Ministry of Industry and Commerce figures, the new economic city will generate BD 5 billion annually by 2040, around 20% of the Bahraini economy at that time. It will significantly improve productivity and create approximately 243,000 new jobs with the majority of these jobs in the services sector.

The prime focus will be on prioritizing and developing downstream and high value added manufacturing sectors such as those in the areas of Automotive, Electronics/Electrical, Food Products, Metal Based Products, Pharmaceuticals, Plastics and related sectors, particularly in the sectors that relate to the regional and wider economy. ALBA’s production of a high purity grade of molten metal feeds Aluwheel manufacturing facilities for the production of passenger car wheels, truck wheels and wheel alloy ingots exported worldwide to OEM and aftermarket customers. The availability of raw materials such as aluminum, the low cost of energy and the availability of a skilled workforce are the main reasons behind a possible expansion of industries such as car manufacturing.

Bahrain also intends to become a hub of world-class export oriented service sector to cater to the demands of neighbouring and international markets in Education, Information and Communications

Industry and Commerce

Bahrain is developing a new Economic City in a 93 sq km area that will create a paradigm shift towards new industrial and business clusters that is expected to generate around BHD5 billion annually by 2040 or around 20% of the local economy at that time.

Dr. Adel Hamad, CEO of GARMCO

2006. We did a very comprehensive study on the segments our production could apply and we identified the medical sector, transport sector and construction and building with households appliances included”, Dr. Adel Hamad, CEO of GARMCO told GGC.

REGAINING CONFIDENCE

Technology, Logistics and Business Process Outsourcing. In addition, it will focus on emerging innovative sectors, such as Advanced Manufacturing Sub-Sectors (Robotics, High Precision Technologies, and Information Technology), Energy Conservation Sub-Sectors (Green Technology, eRecycling) and areas such as Solar Technology, Wind Technology and Geothermal Components.

To support export growth and stimulate the private sector role in the local economy, the Ministry of Industry and Commerce and the Chamber of Commerce are about to open doors of a newly Export Development Centre. The ministry also supports the sector by providing industrial lands and associated infrastructure, single window clearance system for industrial projects through Bahrain Investors Centre, customs duty exemptions, increased market access through bilateral and multilateral trade agreements etc.

Bahrain was the first country in the GCC to sign a Free Trade Agreement (FTA) with the United States.

“Our investment in America was established to sell our products and make use of the Free Trade Agreement (FTA) of Bahrain with the US signed in

Unlike the industrial sector that remained almost untouched during the recent events in Bahrain, the retail sector felt the shock as a whole dependant of the local consumer confidence, which dropped to minimum during the uprisings. Business confidence decreased again in Q4 2102 in the GCC, with the largest drop in Saudi Arabia (-6.86 points) and Bahrain (-6.72 points), according to the new YouGov and McGill Consulting Group Business Confidence Index. It seems that the consumers are still on the saving mode despite the fact that the economy is showing strong signs of recovery, the government spending is escalating and credit is starting to float. Shopping malls in Bahrain have been affected since the entrance of Bahrain City Center to the market in 2008. Malls now compete for a limited amount of tenants as well a limited population. Despite the fact that Kuwaitis and Saudis consider Bahrain as a shopping destination, the overall scene is being reshaped.

Despite these statistics, in June 2013 Bahrain´s Durrat Marina announced the development of the first phase of a new retail project spanning 5,200 sq metres a long a marina with space for over 40 outlets. Car sales, which are a good indicator of the status of the local economy, have continued to increase steadily during the past two years.

According to Business Monitor International the car sales increased by 5 percent to over 52 thousand car sales in 2012.

BMI concludes reporting that “among all retail categories, mass grocery retail will be the outperformer through to 2017 in growth terms. Sales are forecast to increase by nearly 44% between 2013 and 2017, from US$1.21bn to US$1.74bn, as demand for packaged and convenience foods continues to pick up on the back of busier lifestyles and more Westernised eating habits.”

See more at: http://store.businessmonitor.com/bahrain-retail-report.html#sthash.n77MierQ.dpuf @FindMeinBahrain

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iInfrastructure, Transport and Logistics

A NATURAL HUB

As a hub of trade since ancient times, Bahrain´s natural strategic location has always been of great benefit to the island. An artificial bridge to connect the island to the continent through Saudi Arabia in the 80s transformed the island of 1,3 million habitants in a market of around 27 million people as it added the Saudi population almost automatically.

Plans to build a new bridge, the “Friendship Bridge” to Qatar before 2020 and the GCC inter-railway project suggest that Bahrain future as a logistic hub is bright.

A planned expansion of Bahrain International Airport is underway and the brand new port of Khalifa bin Salman Port (KBSP) operated

by APM Terminals opened in 2009. “Our competitive edge definitely is our geographic location and the trade friendliness of the country. Bahrain has a history of traders that goes well back in centuries. So it is not the size, it is not the oil, it is the trading mindset,” Marco Neelsen, CEO of APM Terminal told GCC. A planned expansion of Bahrain International Airport is underway and the brand new Khalifa bin Salman Port (KBSP) operated by APM Terminals opened in 2009.

A NEW WORLD-CLASS PORT

Khalifa bin Salman Port (KBSP) is the only container and general cargo terminal in Bahrain. The total investment of the harbour was BD131M ($361 millions). The first phase, built in a surface of 110 hectares of reclaimed land, has a capacity of 1.0 TEUs (Twenty-Foot Equivalent Unit). “We are working at almost 50 percent utilisation of the port so there still is room to @FindMeinBahrain

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Amin Al Arrayed, General Manager of First Bahrain

improve. However, we can relatively simply add additional equipment/superstructure within 6 to 18 months because the yard space and infrastructure can support an expansion up to 2.5 million TEUs”, Neelsen said. The capacity of the port could increase according to plan until 5 million TEUs. KBSP has a 1,800 metres quay, which includes a 900m2 container terminal served by four 61m postPanamax cranes, as well as general cargo, and passenger facilities, cruise facilities and warehouses. It has a depth of 15 metres to accommodate Post-Panamax vessels. The port has a passenger terminal, its own duty free shop and a dedicated berth for cruise liners.

For the upcoming cruise season, the port will receive a minimum of two cruises per week attracting more than 100,000 cruise tourists to Bahrain. The port main focus is the upper Gulf region, Saudi Arabia, Iraq, Kuwait, etc. “We want to promote Bahrain especially towards transhipment cargo into Saudi Arabia, Iraq and Kuwait and we want to ink our name on this” Neelsen said.

Current improvements of the port include a platform for customers to track cargo, make reservations and payments online, e sourcing and e-commerce.

Traffic of goods through the kingdom of Bahrain also remitted during 2011 uprisings but started to show signs of recovery in the third quarter of 2012.

“We see a strong recovery in containerised and general cargo which are growing at volumes of 10 to 12 percent. In fact, we are a very strong indicator of the economic performance of the country in general and especially with regards to trade. More consumables are coming to the country, more money is floating and new projects by various governmental stakeholders and private investors are coming on line. We see a very positive trend through the network of organisations in the country such Bahrain Logistics Zone and Bahrain International Investment Some companies have already

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set up factories here or are in the process of establishing to produce for the Gulf market but also for the US market thanks to the Free Trade Agreement (FTA) of Bahrain with the United States that positions the country as a more attractive place than other Gulf States,” Neelsen told GCC.

THE EXPANSION OF THE AIRPORT

Traffic at Bahrain International Airport (BIA), the aerial door to the Kingdom, is also a sign of economic recovery. It reported an 8.8% jump to 8,5 million passengers during 2012 in comparison with 2011. Bahrain Airport Company (BAC) is in charge to manage and operate the airport and supervise the expansion Project. Wholly owned by Bahrain Mumtalakat Holding Company, BAC was established in 2008. Bahrain has an expansive project to revive its position as an aviation hub and preferred transit point.

“As far as the regional macro aviation environment is concerned, we are situated within a one-hour radius from three major hubs: Dubai, AbuDhabi and Doha and three aggressively expanding airlines with well established international networks. These “airline-airport” systems generate an extremely competitive environment for our national carrier and consequently for BAS as inter-connected partner. Furthermore, BAS is a fully privately owned business entity with no direct or indirect state subsidies, unlike other ground handling companies across the region, and has to earn its living based on its own merit.

It is essential that a vision and a long-term strategy for the aviation community of Bahrain be defined in order to set a course and adopt the appropriate model.

Then, all major aviation stakeholders should work closely together and support each other in order to develop competitive advantages and safeguard the aviation business continuity in the Kingdom”, George Saounatsos, CEO of Bahrain Airport Services and of BAS Aircraft Engineering Training Center told GGC. The development of BIA is part of Bahrain’s strategic economic development plan for its Economic Vision 2030. The project focuses on providing proper infrastructure and better financial performance to position the airport as a key

Infrastructure, Transport and Logistics George Saounatsos, CEO of Bahrain Airport Services and of BAS Aircraft Engineering Training Center

Marco Neelsen, CEO of APM Terminal

contributor in GDP and uplift aviation as a one of the major economic sectors in the Kingdom.

The expanded airport will increase the Airport footprint by an additional 40,000m², including more than 3,000m² of new retail facilities. It will also create 4 to 5 additional contact gates, 9 remote gates and 40 more check-in counters as well as an enlarged transfer facility. BIA’s $100 million terminal was inaugurated in 1994 with a capacity of nine million passengers a year.

The new project plans to increase the airport’s capacity to 13.5 million passengers per year.

“The aviation industry plays a pivotal role in Bahrain’s economy in terms of GDP and employment contribution. Yet, the scale of the local market, the prevailing dynamics as well as present timing can hardly justify an open competition environment. The recent closure of Bahrain Air, which had an approximate 8% market share, left only one domestic airline.

Gulf Air became the crucial driver of the aviation sector and although they have scaled

down their flight activity, they maintain a robust 55% market share. Currently they are undergoing an extensive restructuring program, rationalizing their network and fleet composition. Passenger volumes depend to a certain extent on the outcome of this restructuring and the capacity of Gulf Air to maintain a sizeable “hub & spoke” system at Bahrain airport, implying that the number of transfer passengers will not be affected further. Over the next couple of years traffic figures can be enhanced given a stable socio-economic environment, Gulf Air’s potential code-sharing with other airlines and the desire of some air carriers to come to Bahrain or increase the frequency of their scheduled flights. There is also sizeable potential to exploit the strategic location of Bahrain as an intermodal freight transportation node due to the direct road network connection to Saudi Arabia, which is the biggest market in the region, the state-of-the-art port and the modern cargo facilities and services provided at the airport along with the warehousing capacity offered,” Saounatsos said.

Bahrain Airport Services (BAS) was founded in 1977 to provide fully integrated airport services at Bahrain International Airport. Supported by a human capital of approximately 3000 staff, BAS is an ISAGO accredited Airport Service Provider (ASP) that owns and operates five distinct business units.

INVESTMENT PARKS, LOGISTIC ZONES AND WAREHOUSE FACILITIES GROWTH

Location attracts International companies to set up their regional offices in Bahrain. DHL for example has based its regional operations in Bahrain for over 35 years. A series of investment parks, logistic zones, Industrial cities and warehouse facilities have recently added value to the natural location of the island. Majaal is a SME focused grade A 12,000 sqm of warehousing facilities and an industrial workspace development. It is located at Bahrain Investment Warf (BIW), a mixed-use industrial, logistics and commercial development that covers 170 hectares in the newly designated Salman Industrial City. “The location was perfect to us as it has easy access to the Bahrain International Airport, to Khalifa bin Salman Port, to the Saudi King Fahd causeway and to the newly planned Friendship causeway between Bahrain & Qatar, in addition to its close proximity to the capital, Manama”, said Amin Al Arrayed, General Manager of First Bahrain, Majaal developers.

Phase 1 cost around $20 million and a similar amount is planned to be invest for the expansion project of Majaal.

@FindMeinBahrain

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ICT

A SMARTPHONE REVOLUTION

As pioneer as in many other things, the telecom infrastructure

Telecommunications have become an integral part of our daily life transforming the way we communicate and opening new possibilities for virtually everything in life. Translating that to a country perspective it is clear that technology has also become one of the key drivers of economic growth. Only a good telecommunications network can sustain today´s economic benefits, from job creation to industry development, attraction of inward investment or a better education system.

As pioneer as in many other things, the telecom infrastructure of Bahrain was set up before its neighbours around the time the country emerged as a financial hub. Only a bulletproof telecom infrastructure could have supported the financial development of Bahrain. Today Bahrain continues to provide a top-edge telecom network second to none in the region within a liberalise market under the surveillance of a sector regulator. The market is also favoured by the country´s strategic geographical location and although the sector only represents 4 percent of the GDP, the annual gross turnover of the telecom sector stood at around USD 1bn in 2012 according to figures released by the Telecommunications Regulatory Authority (TRA) and keeps growing steadily at a rate of 10 percent approximately.

of Bahrain was set up before its neighbours around the time the country emerged as a financial hub. Only a bulletproof telecom infrastructure could have supported the financial development of Bahrain. @FindMeinBahrain

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ICT MAIN INDICATORS Indicator

Fixed line services Number of fixed lines Fixed line penetration Number of residential fixed lines Mobile services Prepaid subscribers Postpaid subscribers Total mobile subscribers Mobile penetration as a % of total population Internet services Dial-up subscribers Broadband subscribers Total Internet subscribers Internet penetration Broadband penetration Total international outgoing minutes (in million) Telecommunications revenues (BD in miIlion) Number of emplovees in the telecom sector

2006

2007

2008

2009

2010

2011

Q2 2012

2006-2011*

*Compound Annual Growth Rate - CAGR 2006-2011

194,196 20% 122,343

203,541 20% 116,951

220,386 20% 130,121

237,621 20% 146,384

227,353 18% 139,543

248,479 21% 161,308

254,027 21% n/a

5%

756,268 151,165 907,433

923,702 192,277 1,115,979

1,210,163 230,619 1,440,782

1,156,196 245,778 1,401,974

1,289,274 278,471 1,567,745

1,379,820 313,830 1,693,650

1,538,598 376,745 1,915,343

13% 16% 13%

94%

107%

130%

119%

127%

142%

158%

21,466 38,628 60,094 6% 4%

6,425 73,563 79,988 8% 7%

4,508 109,994 114,502 10% 10%

3,480 158,335 161,815 14% 13%

0 204,197 204,197 17% 17%

0 290,371 290,371 24% 24%

0 412,783 412,783 34% 34%

364

643

954

1,483

1,998

2,050

41%

253

285

303

338

360

406

10%

1,942

2,381

2,469

2,504

2,584

2,708

7%

-100% 50% 37%

Notes (1) The number of subscribers refers to the end of the period. (2) Number of broadband subscribers include fixed, mobile and wireless.

(3) Note: The drop in the number of mobile subscribers in 2009 is due to the prepaid SIM card registration campaign and compliance by Batelco with the ITU active prepaid subscribers' definition. (4) 2011 revenues in elude handsets sales.

Following a global trend, the accessibility of mobile broadband through a new generation of smart phones has rocketed the global number of people connected through a mobile broadband to almost 1,5 billion almost half the numbers of fixed internet subscribers. The appetite for new technologies is particularly impressive in the Gulf region with penetration rates that almost double the number of users and suggest there are almost two mobile phones per capita in the region. According to a study commissioned by TRA the mobile penetration in Bahrain stood at around 160 percent in June 2012 compared to 130% in 2008.And following the global trend mobile broadband subscriptions represented 60% of the broadband customer base in Q2 2012.

In Bahrain there are 1.9M mobile subscribers with the percentage of Internet users growing from 53 percent to 77 percent between 2007 and 2011. In contrast, there were approximately 254,000 fixed lines by the end of Q2 2012. Revenues compound annual

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ICT

According to a study commissioned by TRA the mobile penetration in Bahrain stood at around 160 percent in June 2012 compared to 130% in 2008.And following the global trend mobile broadband subscriptions represented 60% of the broadband customer base in Q2 2012.

growth of the sector stood at 10 percent between 2006 and 2011 with mobile services revenues accounting for nearly half of the telecoms retail services revenue.

There are approximately 400 thousand Internet subscribers in Bahrain, all of then subscribed to a broadband service and representing a penetration rate of 34 percent. At the end of 2011, the number of mobile subscribers with an add-on data package increased by 300 percent compared to the previous year.

Since in 2008 TRA decided to allow a third mobile operator to enter Bahrain prices have significantly gone down while the entry of Wimax-based operators following TRA’s award of new fixed-wireless licences in 2007 has significantly enhanced the competitiveness of fixed broadband services in Bahrain. The liberalisation of the market in 2003 also increased by 50 percent the number of employees in the sector. Today approximately 3,000 people work directly in the telecom sector 80 percent Bahrainis and 28 percent of them female.

Mobile and International calls represent 70 percent of the market retail services revenues with 46 percent and 22 percent respectively.

Bahrain has three mobile operators: Batelco, Zain and Viva (part of Saudi Telecom Company) that compete in a tiny market with the numbers of subscribers still increasing. Although it is one of the smallest markets of the Middle East, or precisely because of that, Bahrain´s main mobile operator, Batelco, has expanded successfully overseas.

SERVICES OFFERED BY ACTIVE OPERATORS Operator Name

National Fixed

International Calls

Mobile

Internet

Leased line

Other data service(1)

2Connect Ascentech Telecoms Batelco BT Solutions LTD Business Communication Networks Elephant Talk EQUANT EGN BV Etisalcom Greenisis (Bahrain Broadband) Kalaam Telecoms Kulacom Communications S.P.C. Light Speed Mena Telecoms Moving Gulf Northstar Nuetel Communications Orbit Rapid Telecoms Rawabi Telecoms & Software Viacloud VIVA Zain (Bahrain) (1) For example, national frame relay service, international managed leased line services and international MPLS/PVPN service.

Source: Telecommunications Regulatory Authority of Bahrain

For additional information please visit http://www.tra.org.bh/en/pdf/2012TelecommunicationsmarketsindicatorsvFforpublic.pdf @FindMeinBahrain

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iReal Estate and Housing

Raffle City, Bahrain Bay

CREATING NEW BOUNDARIES

Prime real estate developments in the island will soon transform the country´s landscape as both, a business hub and a tourism destination.

With the global financial crisis the rate of the real estate development has slowed down around the world and Bahrain is no different or immune. The financial crisis has hit everybody and the bankers’ reluctance to lend to the real estate market has been almost like a disease. Some of the landmark real estate developments of the country experienced a slowdown it their plans but works in Bahrain continued despite the adversities that particularly hit the country political scene over the past two years. “During the rough times of the financial crises the cranes at Bahrain Bay never stopped. It shows the resilience, the commitment, and the financial strength of the investors that are backing up the Bahrain Bay project”, Robert Lee CEO of one of the leading real estate developments in Bahrain, Bahrain Bay, told GGC. Prime real estate developments in the island will soon transform the country´s landscape as both, a business hub and a tourism destination. In Manama a new business and commercial district has been created while expanding north-west towards the airport and into Muharraq island several residential projects are coming in line with the first of them, Amwaj, already considered an island of tranquility and the preferred expat location until recently. The fact that it is 30 minutes away from downtown Manama plays against it and new developments in downtown Manama are becoming more popular. However, Amwaj location will be favoured with

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Amwaj Marina

Robert Lee, CEO of Bahrain Bay >

the creation of entire new communities in nearby Muharraq island that include Diyar, a mix-use development that caters to mid income residents and Dilmunia Health Island, more of a tourism city that caters to the growing international market of health tourism but also features a residential and commercial development.

DOWNTOWN MANAMA EXPANSION

A new Manama is blossoming along the highway that comes from Saudi Arabia into Manama City and off to the airport. Expanding on the back of new reclaimed land, a new city landscape has been shaped with top-scale corporate, commercial and residential developments that cater to the high-end market. Bahrain Financial Harbour Area, Reef Island and Bahrain Bay, located within 5 minutes drive from each other, are setting the new boundaries of Manama city. Bahrain Bay is tasked with the development and operation of a $2,5 billion corporate spot built on a total land area of 450,000 sqm in reclaimed land as an extension of downtown Manama. The development houses the new Arcapita HQ building, the Four Seasons, JW Marriot and Wyndham hotels and Al Baraka Group headquarter among other renowned tenants. Works are expected to finalize by 2015. “It will be the place for head offices and corporate offices and 5 star hotels and apartments associated with the premium destination. It is also a major cross connection between the causeway to Saudi and Bahrain International Airport. We will be the focal point and we will be the destination”, Lee said.

The Harbour district covers 380,000 square metres of prime waterfront property catering to a high-end client with premium office, retail and residential spaces. Reef island has promoted itself as “an island of bliss in the heart of the city” and it truly has become one. It offers easy access to a bustling cosmopolitan city complimented with the tranquillity of a tropical island getaway. The 579,000m² master planned, freehold community was conceived as Bahrain’s benchmark of luxury living on a purpose-built atoll.

It comprises of 39 residential buildings with a total of 1217 apartments, 1 residential Icon Tower, 49 stylish chalets, and 65 luxurious individual villas all overlooking private lagoons, with a private Marina & Yacht Club.

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Dilmunia Health Island

Real Estate and Housing

Bahrain Bay is tasked with the development and operation of a $2.5 billion corporate spot built a total land area of 450,000 sqm in reclaimed land as an extension of downtown Manama. The development houses the new Arcapita HQ building, the Four Seasons, JW Marriot and Wyndham hotels and Al Baraka Group headquarter among other renowned tenants. Works are expected to finalize by 2015.

REVIVAL OF THE ANCIENT CAPITAL

Bahrain Bay illustration

Several real estate developments are expanding the city Northeast into Muharraq Island, once the capital of Bahrain.

New communities are coming up around some of the most recent infrastructure developments as the new King Salman bin Khalifa Port and close to the airport. Mixed-use real estate projects such as Amwaj and upcoming Dilmunia Health Island and Diyar are also located there. Amwaj was the first mix-use community project in reclaimed land in Bahrain. The project was approved in 2000 by the Government and by 2006 the first tenants started to move in. Amwaj Islands is a development built on a vision of returning waterside living to the people of Bahrain and combine residential, commercial and retail space in a 4sq km community situated off the coast of Bahrain near Muharraq and just 15 minutes from the capital, Manama. New landmark developments around the ancient capital of Bahrain, Muharraq, are Dilmunia Health Island, developed by Ithmaar Development Company and Diyar Al Muharraq. Diyar Al Muharraq is a master planned city built as an extension of the island of Muharraq. Over an area of 12 square kilometres, “the development is a cohesive mix of residential and commercial properties within affordable price brackets aiming to open up new opportunities for the part of the society previously excluded from home ownership”, Aaref Hejres, managing director of Diyar told GGC. The urban development’s anticipated total investment value is US$ 3.2 billion with Kuwait Finance House (KFH) at the backbone of the financial support. Location plays also a key factor in the development as it is close to major commercial and industrial ventures (Bahrain International Airport, Khalifa bin Salman port in Hidd and the Bahrain Investment Wharf) and half an hour away of Manama. The project aims to accommodate over 100,000 people, creating a new tourism destination and fostering an immense contribution to the economy as a whole. In 2012, Diyar Homes was inaugurated and Dragon City, the first Chinese themed retail-shopping mall, was announced. Situated on the northern shores of Muharraq, its amenities will include over 40 kilometres of waterfront with sandy beaches, marinas and all the basic elements surrounding a community such as schools, medical facilities and commercial outlets like shopping malls, banks, and hotels.

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TAPPING INTO TOURISM DEVELOPMENTS

Also in Muharraq, a new city is growing under the brand name of Dilmunia Health Island. With this project Ithmaar Development Company aims to increase Bahrain´s potential to become one of the main health tourism destinations of the Arab world. The $1.6bn development tendered its first infrastructure development phase in the middle of the crisis and plans to handover the first units by 2014. Dilmunia expects to attract a number of health and wellness amenities. Located off the northeast coast of Muharraq It is a 125 hectares manmade island with a 2.2km long Grand Canal that offers mixed-use land and is expected to provide housing to approximately 15,000 residents.

Close to Bahrain International Circuit (BIC) and taking advantage of it a new project real estate development project is transforming the desert location into an oasis. The $1 billion Al Areen development is spread over an area of 2 million square metres and includes residential villas, hotels and spas such as Al Areen Desert Spa and Resort and commercial outlets and recreational facilities such as “The Lost Paradise of Dilmun” Water Park. Adjacent to the Bahrain International Circuit (BIC), the Al Areen Holding Company was Established in July 2004 Al Areen Holding is a joint stock closed company owned mainly by the government of Bahrain and Gulf Finance House.

Diyar Bahrain

Durrat at Bahrain is further down all the way to the South East coast of Bahrain

SECOND HOME MARKET

Other premium residential and vacational developments in Bahrain include Durrat Al Bahrain and Riffa Views. Riffa Views is a premium golf residential development located 20 minutes south Manama at the heart of the island. Closer to the city and surrounded by the greenery of the golf course, Riffa Views is a trendy destination for the high-income market.

Durrat at Bahrain is further down all the way to the South East coast of Bahrain and was envisaged as a holiday destination with luxury hotels, spas and resorts and residential spaces like beachfront villas and executive apartment and offices. This 21 million sqm master development has been created across a cluster of 15 spectacular islands includes a 400-berth marina, and an 18-hole championship golf course designed by leading international golfer, Ernie Els. Durrat Al Bahrain is a $4 billion joint development owned by the Government of Bahrain and Kuwait Finance House (Bahrain).

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and was envisaged as a holiday destination with luxury hotels, spas and resorts and residential spaces like beachfront villas and executive apartment and offices. This 21 million sqm master development has been created across a cluster of 15 spectacular islands includes a 400-berth marina, and an 18-hole championship golf course.

Real Estate and Housing < Aaref Hejres, managing director of Diyar According to some analysts, there is a shortfall of around 50,000 units of affordable houses and the problem is chronic. The first PPP agreement to build more than 4,000 affordable homes units and deliver them by 2016 was signed in January 2012 by the Ministry of Housing of Bahrain and the real estate and infrastructure development company, Naseej.

NEW MARKET EQUILIBRIUM

Some kind of equilibrium is gaining momentum and banks, developers and buyers are more cautious seeking for the right value in every product. “Who knows -Robert Lee CEO of one of the leading real estate developments in Bahrain, Bahrain Bay, told GGC- the real estate market might make a come back because in this part of the world people don’t like the equity market”. In this part of the world there has never been a real estate market but rather a commodity market using real estate as the commodity, agreed Christopher Sims, former CEO of Naseej a development company that caters to the growing need of affordable housing in the region”. Another market characteristic is the common dislike of purchasing off-plan properties.

AFFORDABLE HOUSING DEMANDS

According to some analysts, there is a shortfall of around 50,000 units of affordable houses and the problem is chronic. Housing was one of the demands of the social uprisings that started in Bahrain in 2011 in the wake of the Arab Spring. The government announced at the time that it will allocate the necessary resources on social housing projects and suggested that funds will also come from the $10 bn GCC Marshall Financial Support Fund. Social housing is currently feeding the growth of the average developer of Bahrain as high land prices and high financial costs are preventing new private investments on affordable housing units in Bahrain even though it is one of the key elements for social stability. The government decision to undertake private public partnerships (PPP) to meet demand is set to reduce quicker the housing needs of the market that nevertheless will continue to put pressure on government expenditure in the long run. The first PPP agreement to build more than 4,000 affordable homes units and deliver them by 2016 was signed in January 2012 by the Ministry of Housing of Bahrain and the real estate and infrastructure development company, Naseej. Later in the year, the government announced a five-years strategic housing strategy that plans to spend $5.59bn in the construction of 50,000 houses.

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iHealth

ONE OF THE HIGHEST EXPENDITURE IN THE REGION

Healthcare in Bahrain is regarded as one of the best of the region with patients coming from other parts of the Gulf to undergo operations there.

To the government of Bahrain, healthcare is a key-developing sector towards a service-oriented economy with high standards practitioners and facilities. Healthcare in Bahrain is available to the whole population in line with the World Health Organization global objectives. It is available through both private and public systems where medical services are free or subsidized. In the 2012-2013 budget healthcare expenditure accounted for around 9 percent of the GDP. Primary health care is the cornerstone of the public health services and is covered through a network of primary health care centres and clinics scattered throughout the five governorate of the kingdom. The Salmaniya Medical Complex, the psychiatric hospital, geriatric hospital and four maternity hospitals cover secondary care. The Bahrain Defence Force Hospital (BDF) under the umbrella of the Ministry of Defence also provides public health care service.

Healthcare in Bahrain is regarded as one of the best of the region with patients coming from other parts of the Gulf to undergo operations there. The country boasts over 20 private and public hospitals and medical clinics with over 2,000 doctors and surgeons registered in Bahrain, according to EDB. Around 80% of the Bahraini population rely on the public healthcare institutions although some employers provide access to private healthcare insurance. Non-Bahraini individuals employed at firms that have more than 50 employees are covered by the primary healthcare system through a compulsory health insurance scheme. @FindMeinBahrain

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There are four medical universities in Bahrain that include the Arab Gulf University, the Royal College of Surgeons of Ireland, the College of Health Science, and AMA International University and provide which provide a local workforce that accounts for more than half of health system employees.

PRIVATE SECTOR BOOST

The private healthcare facilities have increased over the past years mainly constituted by general and specialised clinics but expanding slowly to the creation of a private secondary care alternative. The government of Bahrain´s healthcare policies include the encouragement of a greater participation of the private sector.

“We came here because of the general opportunities, the ease-to-do-business atmosphere compare to the neighbouring countries and the real need for a medical centre,” explained to GCC Ravi Preet Singh, chief operating officer of Royal Bahrain Hospital. “We have had a very good relation with both the National Health Regulatory Authority and the Ministry of Health and I must say that the service and support provided by the Bahrain Economic Development Board, EDB is unique in essence.”

Health care in Bahrain is regulated by the Ministry of Health and the National Health Regulatory Authority (NHRA) which, established in 2009, is an independent regulator that sets the quality standards across the private healthcare providers and professionals, impulses the monitoring and undertakes regular inspections.

“As we grow we are in the need of more doctors, nurses and paramedical staff and we need to speed up the process of the licensing them, currently it takes between three to four months. Although is less time than in other countries of the region, we need to bring more international doctors from abroad to perform surgeries once a month,” said Singh.

Kims group in partnership with a prominent Bahraini businessman developed the KIMS Bahrain Medical Centre around eight years ago. It is a multi-specialty outpatient medical centre with diagnostic facilities, etc.

The success of this operation resulted in the creation of KIMS Holding Company (KHC) registered in Bahrain as the investment arm of the KIMS group in the GCC. Through 116

Healthcare in Bahrain is regarded as one of the best of the region with patients coming from other parts of the Gulf to undergo operations here. The country boasts over 20 private and public hospitals and medical clinics with over 2,000 doctors and surgeons registered in Bahrain,according to EDB.

KEY HOSPITALS IN BAHRAIN American Mission Hospital Awali Hospital Bahrain Specialist Hospital Bahrain German International Medical Centre Ibn Al-Nafees Hospital International Hospital of Bahrain Noor Specialist Hospital Saar Medical Centre Bahrain Royal Hospital King Hamad Hospital

Health < Dr. Kassim Adati, CEO of Bahrain Specialist Hospital Ravi Preet Singh, chief operating officer of Royal Bahrain Hospital

PUBLIC HEALTHCARE SYSTEM

HEALTH SYSTEM OF BAHRAIN TIMELINE 1900

Victorian Memorial Hospital (12 beds)

1902

American Mission Hospital (24 beds)

1929

First clinic for pearl divers

1929

Preventive & Public Health Services Started

1957

Opening of the first Public Hospital

1978

Opening of the Salmaniya Medical Complex 910 beds

2004

The Royal College of Surgeons in Ireland – Medical University of Bahrain RCSI is founded in 2004 and is a constituent university of the Royal College of Surgeons in Ireland.

2009

The National Health Regulatory Authority (NHRA) is established

Primary care centres 23 2012 Salmaniya medical complex 910 Beds Psychiatric Hospital 289 Beds 2012 Geriatric Hospital 155 Beds Maternity Hospitals (4)-137 Beds Ebrahim Kanoo center 45 Beds King Hamad Hospital 312 Beds KHC, several investors have jointly invested to form a chain of healthcare institutions across the GCC countries. Currently the group is operating a 55bed multi-specialty hospital in Muscat, in the Sultanate of Oman, and several medium and large medical centres in Al Wakra, Qatar, Jubail and Riyadh, Saudi Arabia as well as a medical centre in Dubai, UAE. “Back to the region, we consider Bahrain as a strategic location that will be improved with the connectivity of the “friendship bridge” with Qatar. We will keep on with our expansion in Bahrain but also we are opening in Doha and in the Eastern part of Saudi Arabia”, Singh told GCC. The success of the group in the region can also be adapted to its development in India. The group has tied up with another private investor in Bahrain to develop the brand in India and they already have two hospitals, a number of medical centres, outdoor clinics and a dedicated oncology centre “Kims is very much developing Indian-Bahraini business relations where Indian companies benefit in Bahrain but Bahraini companies can also benefit in India. It has created a platform for business between the two countries.

CREATING A HEALTH TOURISM INDUSTRY The creation of a health tourism industry is on top of government proposals to continue expanding the national economy and diversifying it.

One of the key developments towards this vision is Dilmunia, a $1,6 Bn

Royal Bahrain Hospital is inaugurated King Hamad Hospital with 312 bed is inaugurated

real estate project in Muharraq island that includes different specialised health centres as well as fitness facilities.

“We have a high number of patients that come from Qatar, Saudi Arabia, Oman and Kuwait on a regular basis, Dr. Kassim Adati, CEO of Bahrain Specialist Hospital told GCC. In 2012 the hospital celebrated its 10th anniversary and the previous year it celebrated the accreditation from the Joint Commission International (JCI) based on the highest global standards in healthcare. The hospital became the first and only hospital in Bahrain to be honoured with such an award.

“We believe we can become a hub for medical tourism in the region and beyond. We are already part of a network of medical tourism hospitals and we receive many inquires about the services we offer”, said Adati.

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iTourism

THE F1 TURN

In 2013, the country is expected to attract 6,468,000 international tourist arrivals and by 2023, international tourist

Regarding tourism in Bahrain, there is a before and after the Grand Prix inaugural race on the 4th of April 2004. At a $150 million cost, the circuit has already delivered back that investment in excess to the kingdom and not only financially but also promotionally. “The direct economic impact for 2008 alone was $200 million. Taking into account the indirect impact we have covered a total of $1 billion over the years, Sheikh Salman Bin Isa Al-Khalifa, Chief Executive of Bahrain International Circuit (BIC) told GGC. It was a worldwide screen to show that Bahrain wasn´t only a small island in a oil rich area production area. It was a vibrant economy located in a strategic crossroads and a modern country with an ancient culture that dates back six thousand years to the Dilmun civilisation. The message did get through and tourism experienced a phenomenal growth over the following years. “The idea started basically on a concord trip when travelling to the US HRH the Crown Prince who had the vision of building a racetrack met racer Jackie Stewart, a three times world champion, by chance. Stewart had just started his F1 team back in 1999 and invited the Crown Prince to Monaco where he finally met Bernie”, sheikh Salman told GGC. Bernie was no other than the British magnate Bernard Ecclestone, president and CEO of F1 Management and Administration.

arrivals are forecast to total 9,051,000, generating expenditure of BHD1,105.8mn according to the latest report on Bahrain of the World Travel Tourism Council.

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Sheikha Mai bint Mohammed Al Khalifa, Minister of Culture

Sheikh Salman Bin Isa Al-Khalifa,

Bahrain, with a population of 1,3 million people, had 102 Chief Executive of Bahrain hotels registered in 2012 and 9,578 available rooms up from the 8,364 of International Circuit (BIC).

2011. The occupancy rate stood at over 40 percent at four and five stars hotels but averaged 33 percent with an average stay of 1.8 nights. New five stars hotels will soon increase the existing 11 5stars establishments of the country with the government of Bahrain venturing with local and regional private investors in the development of new areas for tourism that will become a destination by themselves. Durrat Al Bahrain, a beachfront development in the Southeast of Bahrain, and Al Areen Desert Spa and Resort near the F1 track are some of them. However tourism was affected by the Arab spring spill over to Bahrain in 2011 that lead to widespread protests and street demonstrations. The F1 Grand Prix had to be cancelled in 2012 with the sector experiencing significant revenue losses but came back to the Island in 2013 amidst a mellowed but still tense environment. Up to date the sector continues increasing its workforce and now accounts for 77 thousand people, around 12 percent of the total Bahrain´s workforce.

Connectivity of the country has been threatened lately with the closure of the national low cost carrier Bahrain Air in 2013 and the restructuring of loss-making national carrier Gulf Air in order to become more efficient and compete with the increasing regional players that dominate the market such as Emirates or Qatar Airways. However, the expansion project of Bahrain International Airport (BIA) and the general restructuring of the sector promises to improve passenger numbers in the coming years. In 2013, the country is expected to attract 6,468,000 international tourist arrivals and by 2023, international tourist arrivals are forecast to total 9,051,000, generating expenditure of BHD1,105.8mn according to the latest report on The renowned Bahraini Bahrain of the World Travel Tourism Council. hospitality is a loud secret since ancient times. Foreign merchants and travellers have

A CULTURAL DESTINATION

always been part of the daily life of the islander. Modern

In 2008, four years after the Bahrain International Circuit tourism started in Bahrain was inaugurated, Sheikha Mai bint Mohammed Al Khalifa was appointed before Dubai was even there. as the first Minister of Culture in a GCC country. She has not only played a major role for Arab women becoming also one of the most powerful women of the Arab World according to Forbes in 2005. She has also significantly contributed to the development and preservation of tourism in Bahrain with

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Tourism

KEY FACTS OF THE TOURISM INDUSTRY IN BAHRAIN

By the World Travel Tourism Council (WTTC)

2013 ANNUAL RESEARCH GDP DIRECT CONTRIBUTION

The direct contribution of Travel & Tourism to GDP was BHD538.3mn (5.0% of total GDP) in 2012, and is forecast to rise by 6.3% in 2013, and to rise by 4.4% pa, from 20132023, to BHD875.8mn in 2023 (in constant 2012 prices).

In 2008, four years after the

GDP TOTAL CONTRIBUTION

Bahrain International Circuit

The total contribution of Travel & Tourism to GDP was BHD1,351.7mn (12.5% of GDP) in 2012, and is forecast to rise by 6.9% in 2013, and to rise by 4.6% pa to BHD2,256.6mn in 2023.

was inaugurated, Sheikha Mai bint Mohammed Al Khalifa was appointed as the ďŹ rst Minister Culture in a GCC country. She has not only played a major role for Arab women becoming

EMPLOYMENT DIRECT CONTRIBUTION

also one of the most powerful women of the

In 2012 Travel & Tourism directly supported 32,000 jobs (5.2% of total employment). This is expected to rise by 7.1% in 2013 and rise by 2.8% pa to 45,000 jobs (6.1% of total employment) in 2023.

Arab World according to Forbes in 2005.

EMPLOYMENT TOTAL CONTRIBUTION

In 2012, the total contribution of Travel & Tourism to employment, including jobs indirectly supported by the industry, was 12.5% of total employment (77,000 jobs).

This is expected to rise by 7.6% in 2013 to 83,000 jobs and rise by 2.8% pa to 110,000 jobs in 2023 (14.7% of total).

VISITORS EXPORTS

Visitor exports generated BHD704.9mn (7.6% of total exports) in 2012. This is forecast to grow by 3.4% in 2013, and grow by 4.3% pa, from 2013-2023, to BHD1,105.8mn in 2023 (9.1% of total).

INVESTMENT

Travel & Tourism investment in 2012 was BHD196.3mn, or 7.9% of total investment. It should rise by 13.2% in 2013, and rise by 4.9% pa over the next ten years to BHD358.2mn in 2023 (8.7% of total).

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an emphasis on culture and heritage that aims to preserve Bahrain ancient traces. Her project “investing in culture,” created a window of opportunity that linked investors to the nation´s cultural sector. Young talents and artists are benefiting from Sheikha Mai policies towards the promotion of national art locally and abroad. The culmination of her efforts was the inauguration of $50 million Bahrain National Amphitheatre in November 2012. With just over 1,000 seats the National Theatre of Bahrain is about the largest of the area and has already hosted performances of the rank of Spanish tenor Placido Domingo. In 2012 Bahrain was chosen the “Arabian Capital of Culture”.

A DIVERSIFICATION TOOL

The renowned Bahraini hospitality is a loud secret since ancient times. Foreign merchants and travellers have always been part of the daily life of the islander. Modern tourism started in Bahrain before Dubai was even there. Although forgotten during the golden years of high oil revenues, the sector became part of the government´s diversification process to reduce the country´s total reliance in a single commodity. In line with this, the Economic Vision 2030 released in 2008 also tapped into the necessity of enhancing the sector with the active participation of the private sector. As a result, tourism has become a greater contributor to the kingdom´s revenues in recent years. In 2012 it contributed with 12,5 percent to the country´s GDP according to a report published by the World Travel and Tourism Council (WTTC) and employs 77 thousand people. Built on the shoulders of a robust legal environment, a relatively liberal society, a strategic location and a rich history and culture as a trading centre, the sector benefits mainly from regional tourism especially from Saudi Arabia, linked to Bahrain through a Caseway over the sea, and Kuwait. A bridge to Qatar, the Friendship Bridge, is expected to be completed before 2022 and will boost the presence of Qatari visitors in Bahrain attracted by a more liberal atmosphere and better shopping. However, international tourism figures indicate that foreigners are also increasingly interested in visiting the island.

Since the inauguration of the cruise terminal of the $360 million Khalifa bin Salman Port (KBSP) in 2009, cruise lines have started to offer stopovers to around 100,000 passengers into the tiny island yearly.

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Tourism has become a greater contributor to the kingdom´s revenues in recent years. In 2012 it contributed with 12,5 percent to the country´s GDP according to a report published by the World Travel and Tourism Council (WTTC) and employs 77 thousand people.

Tourism

In Bahrain, the estimated impact generated by MICE events hosted at the Bahrain International Exhibition and Convention Centre (BIECC) floats at around $150 million per year. The new Expo City will triple the impact of the MICE industry in Bahrain´s economy and will increase the area covered

by BIECC by nearly ten-fold.

CREATING A HEALTH TOURISM DESTINATION AND MICE HUB

Since the inauguration of the cruise terminal of the $360 million Khalifa bin Salman Port (KBSP) in 2009, cruise lines have started to offer stopovers to around 100,000 passengers into the tiny island yearly.

Health Tourism is already a reality in Bahrain with the upcoming development of Dilmunia Health Island representing a major push to the sector. As a major crossroad centre of trade since ancient times, the Meetings, Incentives, Convention and Exhibitions (MICE) industry is therefore, part of Bahrain´s trading heritage. Acting as a gateway to the Gulf, exhibitors not only see Bahrain as the potential client but the broader region and in particular Saudi Arabia, linked to the island through a 26 kms causeway. Although Dubai has recently taken the lead in the MICE industry of the region, certainly Bahrain follows suit. The country´s location and infrastructure connections make it easier for regional players to meet in Bahrain under a relatively more liberal and relax atmosphere. The road connection to oil rich Saudi Arabia plays in favour of Bahrain with fewer restrictions to visa issuing procedures. The future plan to connect the island to the largest LNG exporter of the word, Qatar, will only increase MICE traffic in Bahrain. In light of the increased demand of exhibition and meeting space, a new flagship state of the art government backed facility is being developed at a total cost of $1.1 billion. The estimated value of the MICE industry worldwide amounts to around $56 bn yearly and is constantly growing. In Bahrain, the estimated impact generated by MICE events hosted at the Bahrain International Exhibition and Convention Centre (BIECC) floats at around $150 million per year. The new Expo City will triple the impact of the MICE industry in Bahrain´s economy and will increase the area covered by BIECC by nearly ten-fold. With 145,000 sqm of space, or the equivalent to 21 football fields, expo@bahrain has the capacity to hold 5,000 plus delegates and up to 30,000 visitors daily, with the design allowing for potential future expansion to meet growing demand. Several Hotels ranging from five to three stars will offer a combined capacity of 1,200 rooms with different amenities designed around them. It is located adjacent to Bahrain International Circuit (BIC) in Sakhir City and only at 15 minutes drive to the country´s premier destination, Riffa Views built around Bahrain Royal Golf Course. Al Areen Spa and Resort and the Sofitel Hotel & Spa are within close distance too. The new cluster of tourism attractions located in the Southern Governorate, South West Bahrain, built around an Expo City will allow Bahrain to hold unique events at competitive prices and in a privilege location. @FindMeinBahrain

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@Leisure

A country with spark. Bahrain history dates back over 6,000 years to the Dilmun civilization that utilized the area for its trade from Mesopotamia to India. Traces of this ancient civilization and others that followed can be found across the island in the form of settlements, burial mounds, forts and Mosques. However is the friendly atmosphere and the Bahraini hospitality what have granted the country its best reputation. Bahrain is a Muslim but relatively liberal country compared to its neighbors with less restrictions and a more western-style mentality.

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ARTS AND CULTURE

@Leisure /Touristic Main Attractions MUSEUMS BAHRAIN NATIONAL MUSEUM

QALA’T AL BAHRAIN SITE MUSEUM

SHEIKH HAMAD CAUSEWAY, EAST CORNICHE

KARBABAD VILLAGE

DAILY, 8AM-8PM

TUES-SUN, 8AM-8PM

First museum in the Gulf, the National Museum opened in 1988. It houses a rich collection of archaeological artifacts covering 6000 years of Bahrain’s history.

The permanent exhibition also features an ethnographic section and a selection of Bahrain’s leading artists. The Museum hosts temporary exhibitions all year long.

Located along the waterfront close to the palm groves, the museum makes up the gateway to Qalat al Bahrain site (UNESCO World Heritage Site) and evokes its historical development (2200BC- 17th century AD). The exhibition halls organized are along an 8 meters wall recreating the archaeological layers recovered on site.

Bahrain is a vibrant economy located in a strategic crossroads and a modern country with an ancient culture that dates Bahrain National Museum

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back six thousand years to the Dilmun civilisation.

Arts and Culture

Bahrain National Museum

BEIT AL QU›RAN

DAR AL NAFT - OIL MUSEUM

OFF EXHIBITION AVENUE, DIPLOMATIC AREA

SOUTH OF JEBEL AL DUKHAN

SAT-WED, 9AM-12PM & 4-6PM

FRI & SAT, 10AM-5PM & BY APPOINTMENT

THUR, 9AM-12PM

The Oil Museum documents the history and discovery of oil. The exhibits consist of old drilling equipments, photographs, rock samples in addition to topographical maps and some information about the companies involved in oil industry in the kingdom. Next to the museum is situated Bahrain’s first oil well.

Housed in a spectacular Arabic script engraved building, Beit al Quran showcases a significant collection of Quranic manuscripts and scriptures dating back to the 7th century.The place hosts a space for art exhibitions, a small mosque, a distinguished library and learning environment for Islamic teaching.

RIFFA SITE MUSEUM Bahrain National Museum

CURRENCY MUSEUM

SALMAN BIN AHMED AL FATEH FORT

CENTRAL BANK OF BAHRAIN, DIPLOMATIC AREA

SUN-WED, 7AM-2PM

SUN-THU, 7.30 AM – 1PM

THUR & SAT, 9AM-6PM; FRI, 3-6PM

The Currency Museum is located in the Central Bank of Bahrain. It features a significant collection of Roman, Byzantine and Islamic coins including one of the rarest Islamic coins in the world. The Museum equally traces the development of currency in Bahrain.

The Museum at the Sheikh Salman Bin Ahmed Al Fateh Fort documents the history and tradition of the ruling Al Khalifa family. The interactive permanent exhibition is installed in a free standing pavilion built within the larger courtyard of the Fort and designed to highlight the historical architectural features of the Fort.

The Pearling trail describes the unique story of pearling in Bahrain through physical testimonies. It consists of three oyster beds located in the northern territorial waters of Bahrain, a seashore and a fortress on the southern tip of Muharraq Island, and seventeen buildings in the heart of the city of Muharraq linked by a 2 miles long trail. The listed buildings include residences of wealthy merchants, shops, storehouses and a mosque.

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ARTS AND CULTURE

@Leisure /Touristic Main Attractions ARCHAEOLOGICAL AND HISTORICAL SITES QALA’T AL BAHRAIN SITE (UNESCO WORLD HERITAGE SITE) KARBABAD VILLAGE 17 564 654 DAILY, 8AM-6PM

The Royal tombs in Aali are Bahrain’s best preserved mounds. Impressive in terms of size and planning, these mounds have yielded royal treasures now on display at

Qalat al-Bahrain is one of the most important archaeological site in the Arabian Gulf and a UNESCO World Heritage site. The fort is located atop a 17.5 hectare artificial hill that was built over more than 4000 years of occupation. It is the site of the former capital of Dilmun and its ancient harbor and one of the most important archaeological sites in the Arabian Gulf.

Over the past 50 years, the excavations have revealed residential, public, commercial and military structures that testify to the importance of the site over the centuries.

These findings are brought to life by an audio guide available at the site museum.

Bahrain’s most mysterious ancient remains, the burial mounds make up the largest prehistoric graveyard in the world.

They are unique in terms of sheer number and concentration and span the Dilmun (3rd to 1st millennium BC) and Tylos periods (2nd century BC to 3rd century AD).

A’ALI BURIAL MOUNDS A’ALI VILLAGE

The Royal tombs in Aali are Bahrain’s best preserved mounds. Impressive in terms of size and planning, these mounds have yielded royal treasures now on display at the Bahrain National Museum.

the Bahrain National

BARBAR TEMPLES

Museum.

BARBAR VILLAGE, OFF BUDAIYA HIGHWAY

Bab Al Bahrain

“PEARLING; TESTIMONY OF AN ISLAND ECONOMY” UNESCO WORLD HERITAGE SITE) DIFFERENT LOCATIONS IN MUHARRAQ

The Pearling trail describes the unique story of pearling in Bahrain through physical testimonies. It consists of three oyster beds located in the northern territorial waters of Bahrain, a seashore and a fortress on the southern tip of Muharraq Island, and seventeen buildings in the heart of the city of Muharraq linked by a 2 miles long trail. The listed buildings include residences of wealthy merchants, shops, storehouses and a mosque. The Pearling trail describes the unique story of pearling in Bahrain and its physical testimony.

Burial Mounds. MOC

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DIFFERENT LOCATIONS SOUTH OF MANAMA

The Barbar complex consists of three successive temples built over 5 stages and dating to the 2nd and 3rd millennia BC. They were built on platforms and organized around a courtyard. A sunken chamber enclosing a fresh water spring constitutes the focus of the main cult believed to be associated with the Mesopotamia God of wisdom and sweet water Enki.

SAR SETTLEMENT SAAR VILLAGE, OFF SHEIKH KHALIFA BIN SALMAN HIGHWAY

The Sar settlement features an entire residential quarter comprising wellpreserved courtyard houses, a temple and a very unique honeycomb shaped cemetery.

The 3rd millennium BC site offers fascinating insights into the daily life of the ancient inhabitants of Bahrain.

Arts and Culture

Bahrain Fort. MOC

AIN UMM AL-SUJUR SITE

JABAL AL DUKHAN

NORTH OF DIRAZ VILLAGE, OFF BUDAYAI HIGHWAY

SOUTH OF MANAMA, SAKHIR AREA

Ain Umm Al-Sujur is the largest fresh water spring in Bahrain. The archeological findings near the well and its chamber dates the site to the 2nd millennium BC.

Jabal Al Dukhan “Mountain of smoke” is Bahrain’s highest hill. It is named in reference to the haze which often surrounds it on humid days. The mountain is surrounded by a number of caves and is rich in petrol and natural gaz. Prehistoric artifacts (c.a. 5000 BC) were recovered in this area.

DIRAZ TEMPLE EAST OF DIRAZ VILLAGE, OFF BUDAYAI HIGHWAY

Qala’t Al Bahrain Site

Qalat al-Bahrain is one of the most important archaeological site in the Arabian Gulf and a UNESCO World Heritage site.

The Temple in Diraz used must have been an impressive religious structure as reflected by the remains of large cylindrical limestone columns. The archaeological findings date it to the third millennium BC.

ARAD FORT ARAD 17 672 278 SUN-WED, 7AM-2PM THU & SAT, 9AM-6PM; FRI, 3-6PM

Strategically located at a sea passage, the Arad fort is a typical example of Omani military architecture at the end of the 15th and early 16th centuries. This fort was once the site of fierce battles and underwent different construction phases. Arad fort hosts seasonal festivals throughout the year.

@FindMeinBahrain

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ARTS AND CULTURE

@Leisure /Touristic Main Attractions TRADITIONAL HOUSES SHEIKH SALMAN BIN AHMED AL FATEH FORT

AL JASRA HOUSE (BAIT AL JASRA)

RIFFA

DAILY, 8AM-2PM

SUN-WED, 7AM-2PM

Built in 1907, Al Jasra House is the birthplace of the late Amir Sheikh Issa Bin Salman Al Khalifa. It represents a good example of traditional rural dwelling consisting of small rooms arranged around a central courtyard. Today, Al Jasra House functions as a center for traditional handicrafts.

THUR & SAT, 9AM-6PM; FRI, 3-6PM

The Fort was built in 1812 by Sheikh Ahmed Al Fateh on the site of a previous structure. Overlooking the Hunanaiya Valley, the fort was the seat of Government until 1869 and the residence of the ruling family through the 1970ies. It consists of rooms built around two courtyards and provides interesting insights into the lifestyle of the ruling family.

JASRA VILLAGE

SHEIKH ISA BIN ALI HOUSE SHEIKH ABDULLA AVE, MUHARRAQ SAT-TUES, 8AM-2PM

A prosperous jewelry industry around pearls and gold is at the heart of Bahrain´s artisan world.

BU MAHER FORT

WED-THU, 9AM-6PM

MUHARRAQ

The House of Sheikh Isa bin Ali Al Khalifa was his residence and the seat of his government. This beautiful house offers insight into royal life in the 19th century. It consists of several rooms arranged around four courtyards and characterized by its windtowers. It is considered one of the most impressive example of Gulf Islamic architecture on the island.

The Bu Maher Fort constitutes the maritime entrance to the Pearl Path (Pearling, Testimony of an Island Economy project - UNESCO World Heritage site).

The visitor center, situated on the only remaining stretch of natural coastline in Muharraq includes information on the Pearl Trail and is the point of contact of the project with the sea and the protected oyster beds to the north of the Island.

SHEIKH EBRAHIM BIN MOHAMMED AL KHALIFA CENTRE FOR CULTURE AND RESEARCH VARIOUS LOCATIONS IN MUHARRAQ SAT-THU, 8AM-1PM & 4-7PM

Built on the site of the majilis of Sheikh Ebrahim bin Mohammed Al Khalifa, the center functions as a forum for dialogue between people in philosophy, literature, poetry, culture and the arts. It consists of several houses spread around Muharraq and one in Manama, all showcasing different aspects of Bahrain’s rich heritage.

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Arts and Culture

The A’ali workshops

CRAFTS

constitute the heart of Bahrain’s pottery industry.

The artisans in A’ali still use

SIYADI HOUSE

A’ALI POTTERY WORKSHOP

traditional methods that

ROAD 911, MUHARRAQ

A’ALI VILLAGE

have been handed down

The house of Ahmed Bin Jasim Siyadi, a former eminent pearl merchant in the 19th century, is a beautiful example of Muharraq historic buildings. Its three storey façade features unique curved corners and beautiful stucco work. The house is part of the “Pearling; testimony of an Island Economy “ – UNESCO World Heritage site.

The A’ali workshops constitute the heart of Bahrain’s pottery industry. The artisans in A’ali still use traditional methods that have been handed down generation after generation, firing their pieces using ancient kilns. Some artisans have used the ancient burial mounds to fire their clay…

generation after generation, firing their pieces using ancient kilns. Some artisans have used the ancient burial mounds to fire their clay.

AL JASRA HANDICRAFTS JASRA VILLAGE DAILY, 8AM-2PM

The handicrafts center revives traditional artisanship and crafts. Local artisans engage in an array of traditional crafts ranging from pottery making and embroidery to basket weaving.

DHOW BUILDING YARD MUHARRAQ SEA FRONT, ALONG KHALIFA AL KABEER AV.

Dhows are still made today by skilled artisans following techniques passed down from father to son. Craftsmen curve the teakwood hulls and hammer the planks together into beautiful seacraft.

Seyadi House

Pottery in Bahrain

Dhows in Bahrain > @FindMeinBahrain

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ARTS AND CULTURE

@Leisure /Touristic Main Attractions PLACES OF WORSHIP

Although more liberal than

TEXTILE WEAVING

AL FATEH MOSQUE

neighbouring countries,

BANI JAMRA VILLAGE, NEAR BUDAIYA HIGHWAY

AL FATHEH HIGHWAY, JUFFAIR

Bahrain is above all a Muslim

The Bani Jamra village is famed for its textile weavers. The local artisans produce works of arts on their manual operated looms.

SAT-THU, 9AM-4PM

country and Bahrainis are religious people

THE CRAFT CENTRE SALMANIYA SUNDAY TO THURSDAY, 7AM – 2PM

The Craft Centre is run entirely by Bahraini women. It has some of the most exquisite creations ranging from jewellery, iron, wood and paper products to embroidered and crocheted goods as well as highly artistic Arabic calligraphy.

CLOSED TO NON-MUSLIM FRI

The Grand Mosque is Bahrain’s largest worship place. It was built by the late Sheikh Isa bin Salman Al Khalifa in 1987 and was named after Ahmed Al Fateh.

The mosque accommodates up to 7000 worshiper and is crowned with the largest fiberglass dome in the world. The walls of the mosque are beautifully ornamented with Kufic calligraphy.

AL KHAMIS MOSQUE SHEIKH SALMAN HIGHWAY, BILAD AL QADIM SUN-WED, 7AM-2PM THU & SAT, 9AM-6PM; FRI, 3-6PM

CAPITAL MALL SEEF DISTRICT DAILY, 9AM – 2PM & 3PM-9PM

The Capital Mall houses around 30 handicraft stalls and shops. Different craftsmen work during weekdays in the main hall of the mall.

Al Fateh Mosque

Built around 692 AD, Al Khamis Mosque is one of the oldest mosques in the Arab world. The identical twin minarets of this ancient Islamic monument make it easily noticeable. The foundation could date sometimes during the 11th century. It has since been rebuilt in the 14th and the 15th centuries, when the minarets were constructed.

SIYADI MOSQUE MUHARRAQ

Part of the Siyadi House complex which belonged to a former eminent pearl merchant in the 19th century, the Siyadi Mosque is the oldest preserved mosque in Muharraq and is still used for daily prayers.

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Arts and Culture

National Theatre of Bahrain

by Architecture Studio

THEATRE

ART GALLERIES

BAHRAIN NATIONAL THEATRE

AL BAREH GALLERY

SHEIKH HAMAD CAUSEWAY, EAST CORNICHE

ROAD 3601 ADLIYA, BEHIND CARLTON HOTEL

The National Theatre opened in 2012. It features a main auditorium (1001 seats), a flexible auditorium (150 seats) and exhibition area. The impressive building is organized around a void central space, in the manner of an Arabian palace.

SAT-THU, 10AM-4PM & 6-8PM

Al Bareh gallery hosts exhibitions by leading regional artists. A diverse program of exhibitions runs throughout the year in the airy art gallery while an adjoining space is devoted to a not-for-profit initiative, ABCAD devoted to art experimentation.

AL RIWAQ GALLERY OSMAN BIN ZAID AVENUE, BLOCK 338 ADLIYA DAILY, 10AM-10PM

The National Museum was the first museum in the Gulf, opened in 1988.

It houses a rich collection

A non-profit gallery primarily exhibiting the works of emerging artists from Bahrain and the region intercepted by exhibitions by international artists. It also hosts a number of distinctive exhibitions through the years along with regular workshops and movie screenings.

of archaeological artifacts covering 6000 years of Bahrain’s history.

The permanent exhibition also features an ethnographic section and a selection of Bahrain’s leading artists.

National Theatre of Bahrain by Architecture Studio

@FindMeinBahrain

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ARTS AND CULTURE

@Leisure /Touristic Main Attractions BIN MATTAR HOUSE RD 1129, MUHARRAQ SAT-THU, 9AM-1PM & 4-7PM

Housed in the house of a former eminent pearl merchant, Bin Mattar is one of the beautifully restored houses of the Sheikh Ebrahim bin Mohammed Al Khalifa Center for Culture and Research. The gallery organizes several distinguished exhibitions throughout the year.

LA FONTAINE ART CENTER HOORA AVE, MANAMA 17230123 TUE-SUN, 10AM-6PM

Housed in a traditional courtyard residence, La Fontaine center hosts several exhibitions annually complemented by a wide array of performances. The house was restored and remodeled in the nineteenth century adding a dramatic garden and water fountain.

RASHID AL ORAIFI GALLERY AND MUSEUM RD 214, MUHARRAQ 17335616 SAT-THU, 8AM-2PM & 4-8PM

Housed in Rashid Al Oraifiâ&#x20AC;&#x2122;s residence, the gallery holds a Dilmun-inspired art collection by the famed Bahraini artist.

The courtyard house features mosaic embellished doorways and pretty gypsum detailing.

Since Sheikha Mai started to revolutionise culture in Bahrain when she was elected Minister of Culture, young artists in Bahrain have revived and are starting to leave their footprint in the international markets.

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Paintings at Al Bareh Gallery

Arts and Culture

Al Dar Islands

Bahrain’s Tree of Life grows in the middle of the desert with no apparent source of water.

It is believed to be 400 years old (or 4000 years according

Marine and Wildlife

HAWAR ISLANDS

AL AREEN WILDLIFE RESERVE

DEPARTURE FROM AL-DUR JETTY, OFF AL-FATEH

ZALLAQ HIGHWAY, AL AREEN

HIGHWAY

17 845 444

17290377

SAT-THU, 8AM-4PM, FRI, 2-5PM

Located 20kms south of Bahrain, the Hawar islands are a renowned wildlife reserve of international significance. The islands are home to pristine beaches, indigenous fauna and flora and migratory birds.

Al Areen wildlife reserve houses rare and endangered species in a 16 sq Kilometers area. Persian gazelle, Impala and Arabian Oryx are among the most graceful animals to be approached in this small wildlife reserve.

AL DAR ISLAND DEPARTURES FROM SITRA FISHING PORT

CAMPING SITES

17 704 600

SAKHIR AREA

TUE-SUN, 9AM-5PM

17694826

Al Dar Island is the nearest island gateway in Bahrain. The island offers regular pearl dives and cruises to the stunning Jarada Island. Visitors also get the chance to see up to 30 types of coral and more than 200 species of fish in addition to watching dolphins.

Camping in the desert around Sakhir during the months of January and February is a well established tradition in Bahrain.

Tents range from very basic to elaborate construction.

TREE OF LIFE

to local lore) although the

SOUTH OF THE JEBEL AL DUKHAN

lifespan for this species is 150

Bahrain’s Tree of Life grows in the middle of the desert with no apparent source of water. It is believed to be 400 years old (or 4000 years according to local lore) although the lifespan for this species is 150 years.

years.

CAMEL FARM JANABIYA HIGHWAY DAILY, SUNRISE – SUNSET

A farm established by Sheikh Mohammed Bin Salman Al Khalifa to preserve camels.

The farm is open to the public and houses 400 camels in a delightfully ambience.

@FindMeinBahrain

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SHOPPING

@Leisure /Touristic Main Attractions

BAB AL BAHRAIN SOUQ

THE AMWAJ MARINA, AMAJ ISLANDS

SAT-THU, 9AM-12.30PM & 4PM-8PM

FIRST SATURDAY OF EVERY MONTH (NOV-APRIL)

Built in 1945, Bab Al Bahrain used to house the government offices. Today, it constitutes the gateway to the Manama Souq, which offers Bahrain’s most traditional shopping experience. All of the kingdom’s exotic items can be found within its atmospheric alleyways ranging from natural-oil perfumes and incense to handicrafts, jalabiyas and carpets.

10AM-5PM

A flea market set by the sea. The Amwaj market has it shares of bargains including locally made jewelry and clothes and art.

This is complemented by homemade food stalls and live music.

MARKET 338 BLOCK 338, ADLIYA TWO WEEKENDS EVERY MONTH (NOV-MARCH)

MUHARRAQ SOUQ

THU, 5-10PM, FRI, 3-10PM

MUHARRAQ, BETWEEN SHEIKH ABDULLA AVE AND BU

Market 338 was launched by Al Riwaq gallery to provide a platform for local artists to showcase their work. It features a predominance of arty products; accessories, T-shirts, photography etc. This is complemented by live performances, workshops and movie screenings.

MAHER AVE Manama Souq offers

SAT-THU, 8AM-1PM & 4-8PM

Bahrain’s most traditional

Smaller than Manama Souq, the Muharraq souq offers a wide range of merchandise and famed sweet shops. The oldest section of the souq, al Qaisariya, offers a charming shopping experience. Al Qaisariya is part of “Pearling; a testimony of an Island Economy”- UNESCO World Heritage site.

shopping experience. All of the kingdom’s exotic items can be found within its atmospheric alleyways ranging from natural-oil perfumes and incense to

ISA TOWN MARKET CENTRAL ISSA TOWN

handicrafts, jalabiyas and

DAILY, 7AM-11PM

carpets.

The Isa Town flea market offers bargain on everything from CDs to household appliances and furniture along with birds and animals.

MALLS AL’AALI SHOPPING MALL BAHRAIN CITY CENTER BAHRAIN MALL COUNTRY MALL BAHRAIN DANA MALL GOSI COMPLEX MARINA MALL BAHRAIN MODA MALL SEEF MALL YATEEM CENTER

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137

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@FindMeinBahrain

SPORTS

The 18-hole Colin Montgomery course offers opportunities to the most seasoned as well as the less experienced golfer.

Bahrain International Circuit

138

@Leisure /Touristic Main Attractions

BAHRAIN INTERNATIONAL CIRCUIT

ROYAL GOLF CLUB

SAKHIR

RIFFA VIEWS

The Bahrain International Circuit was inaugurated in 2004. Located 30 Km South of Manama, this world-class motorsport facility accommodates up to 70.000 spectators. Its annual Grand Prix is now renowned as one of the most friendly, atmospheric and exciting of the season.

Apart from Formula 1, the BIC hosts a number of international races and activities throughout the year including Karting and 4x4 races.

DAILY, 7AM-9PM

The 18-hole Colin Montgomerie course offers opportunities to the most seasoned as well as the less experienced golfer. The club offers access to day visitors.

SAKHIR RACE TRACK SAKHIR EVERY FRIDAY (NOV-APRIL), 1PM

The Race course in Sakhir provides a magnificent opportunity to view Arabian horses in action. The course accommodates around 3000 seats and hosts usually up to 6 races per day including one for pure-breeds.

Sports

Family Attractions

Although Bahrain is an island, Manama doesn´t have public beaches and most of them can

ADHARI PARK

WAHOO WATER PARK

only be find at hotels and in

SOUTH OF MANAMA

BAHRAIN CITY CENTER, SEEF

Amwaj, the island inside the

17407300

17173000

island 30 minutes away from the

DAILY, 4PM TO MIDNIGHT

SAT-WED, 11AM-8PM

city in the airport road. However,

An amusement park based around the historic freshwater spring known as Ain Adhari. It has 8 outdoor and indoor rides for people of all ages, a family entertainment centre and a food court.

THU& FRI, 11AM-9PM

LOST PARADISE OF DILMUN WATER PARK

FUNLAND CENTER

AL AREEN

17292313

17845100

DAILY, 10AM-10PM

WED-MON, 10AM-6PM (CLOSED NOV-MARCH)

Funland offers an Ice Skating rink in addition to a bowling facility.

the south of the country is scattered with pristine beaches.

A sprawling water park featuring vertiginous slides, thrilling rides, a large wave pool, a lazy river and a sandy beach.

The Wahoo Water park is located in the Bahrain City Center Mall. It features an indoor-outdoor water pools, numerous water slides and rides.

AL FATEH CORNICHE

AL JAZAIR BEACH SOUTH OF MANAMA

The Jazair public beach provides a delightful place to unwind. The place is popular with local families and has a children play area.

@FindMeinBahrain

139

SERENE LANDMARK

@Leisure /Touristic Main Attractions

Mr. Mohammad Younis

Director of Landmark Bahrain

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Great things start from small beginnings.

Yet, there is another story to prove it.

Have you’ve ever wondered what it takes to become a top businessman?

Following is a story of self-made South Asian entrepreneur. Think of top South Asian businessmen in Bahrain and the name of Mr. Mohammad Younis will just spring to your mind. But have you ever wondered what special qualities took him to the top of his respective business tree? He shares several common characteristics with other successful business entrepreneurs who have enjoyed a spectacular rise to riches from humble beginnings.

Find me in Bahrain investigates what it takes to run a business empire, and shares the secrets of Mr. Mohammad Younis success.

The world of business can be incredibly cutthroat, high powered and difficult to break into. So where do you start if you have dreams of becoming a successful businessman?

Behind a famous award-winning company is humble top businessman, Mohammad Younis.

His fortune was not made through a lucky lottery win, nor did he inherit it.

He started with nothing and has worked his way up to a business empire.

Born into a mid –class society, eldest and the bread winner who is determined to lift up his family Mohammad Younis took his courage and left his homeland to fulfil his dreams…in Bahrain.

Mohammad Younis hasn’t forgotten where he came from though. It makes him more grounded and realistic. He believes in “longevity” rather than the “one big cash-in”.

He arrived and started as a labourer in a construction site and worked hard under the blazing heat of the sun, picking up bricks from dusk till dawn. But as far as his strong-willed is concerned, Mohammad Younis did not lingered into being just a construction worker but soared up high to be one of the realty agents and later on put up his own real estate company.

“Having a clear goal and vision is one of the key to your success. You’ve also got to be incredibly focused and driven to make it in the business world while keeping your feet still on the ground “says Mohammad Younis.

“When you’re young, you’re kind of fearless, you have the ability to take risk, and that has contributed a lot to my growth in business,” he added.

Landmark Bahrain is real estate Development Company who has built a number of residential and commercial properties, and is still establishing new projects all the way to Juba, republic of south Sudan. He says construction is in his blood. He also attributes his success to his three adoring kids especially his elder and only daughter Madeeha. And rock steady wife. Now he is in a process to expand his business to the shores of east Africa and in particular south Sudan.

His daughter Madeeha is the one who’s looking after his business even up to the smallest details ensuring the high standard quality of the company is being given and running shoulder to shoulder with him to reach acquired results.

His brand Serene Landmark has also won the prestigious CNBC Arabian Property Awards, which states his dedication, professionalism and commitment to the community. He strongly believes in the word “family” which is a focal point of his business philosophy as well as his personal life.

He also invited us to visit south Sudan with a sparkle in his eye to show his achievement’s over there as he was the first businessman to visit south Sudan from Bahrain and established himself over there since its inception.

@FindMeinBahrain

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Who is Who

Who is Who

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GOVERNMENT 1. CROWN PRINCE COURT Court of the Crown Prince 1600 Shaikh Salman Highway, P.O. Box 29091, Riffa Kingdom of Bahrain Tel: 17659999 Fax: 17664451 http://www.cpisp.bh 2. PRIME MINISTER´S COURT Tel: +973 17200000 http://www.mofa.gov.bh 3. FIRST DEPUTY PREMIER MINISTER OF BAHRAIN H.R.H. Salman Bin Hamad Al Khalifa No contact details 4. SECOND DEPUTY PREMIER MINISTER OF BAHRAIN Muhammad Ibn Mubarak Al Khalifah No contact details 5. THIRD DEPUTY PREMIER MINISTER OF BAHRAIN Ali Bin Khalifa Al Khalifa No contact details 6. MINISTRY OF CABINET AFFAIRS MINISTRY OF CABINET AFFAIRS Tel: +973 17223366 Fax: +973 - 17225202 7. MINISTRY OF CULTURE & TOURISM P.O Box. 2199 Manama, Kingdom of Bahrain E-mail: culture_sector@info.gov.bh Tel: +973 17298744 Fax: +973 17 792523 www.moc.gov.bh 8. BAHRAIN DEFENCE FORCE MINISTRY OF DEFENSE AND DEPUTY HEAD OF THE ARMED FORCES Ministry of Defense P.O. Box 245 Manama, Bahrain Telephone: (973) 665599 Fax: (973) 663923 9.MINISTRY OF EDUCATION MINISTRY OF EDUCATION P.O. Box 43 Manama, Bahrain Telephone: (973) 680161 Fax: (973) 261836 www.moe.gov.bh 10. MINISTRY OF ELECTRICITY & WATER OF BAHRAIN & WATER & ELECTRICITY AUTHORITY (EWA) Electricity and Water Authority (EWA) Customer Services Directorate P.O.Box: 2098 Manama Kingdom of Bahrain Email : customercare-ewa@ewa.bh Tel: +97317 515555 http://www.mew.gov.bh

11. MINISTRY OF ENERGY / NOGA GBCORP Tower, 19th Floor Building No. 1411, Road No. 4626, Block 346 Bahrain Financial Harbour District, P.O. Box 1435 Manama-Bahrain Email: info@noga.gov.bh Tel: +973 17312644 Fax: +973 17293007 http://www.noga.gov.bh 12. MINISTRY OF FINANCE OF BAHRAIN Building 100, Road 1702, Block 317, P.O Box 333, Diplomatic Area Manama, Kingdom of Bahrain Telphone:+973 17575000 Fax: +973 17532853 https://www.mof.gov.bh/ 13. MINISTRY OF FOREIGN AFFAIRS MINISTRY OF FOREIGN AFFAIRS P.O. Box 547 Government Road Manama, Kingdom of Bahrain Telephone: +973-1722755 http://www.mofa.gov.bh 14. MINISTRY OF HEALTH P.O. Box 12 Manama, Bahrain Telephone: +973255555 Fax: +973252569 http://www.moh.gov.bh 15. MINISTRY OF HOUSING P.O. Box 5802 Manama, Bahrain Telephone: +973 533000 Fax: +973534115 www.housing.gov.bh 16. MINISTRY OF INDUSTRY AND COMMERCE P.O. Box 5479 Diplomatic Area, Manama, Kingdom of Bahrain Email: info@moic.gov.bh Tel: +973 17568000 www.moic.gov.bh 17. MINISTRY OF INFORMATION OF BAHRAIN / INFORMATION AFFAIRS AUTHORITY Isa Town, PO.BOX:5421 Kingdom of Bahrain Tel:+973 17 870 888 Fax: +973 17 871 888 Email : info@iaa.gov.bh http://www.iaa.bh 18. MINISTRY OF INTERIOR OF BAHRAIN Tel: +973 17572222 Fax: +973 17390000 P.O Box 13, Manama Kingdom of Bahrain www.interior.gov.bh

19. MINISTRY OF JUSTICE AND ISLAMIC AFFAIRS AND WAAF P.O. Box 450 Manama, Bahrain Telephone: +973 17531333 Fax: +973 17536343 www.moj.gov.bh 20. MINISTRY OF LABOUR MINISTRY OF LABOUR BUILDING Street 214 Isa Town 32333 Bahrain Kingdom of Bahrain Tel: +973 17873777 Fax: +973 17686954 Email: info@mol.gov.bh www.mol.gov.bh 21.MINISTRY OF MUNICIPALITIES AFFAIRS, AGRICULTURE AND URBAN PLANNING P.O. Box 5479 Manama, Bahrain Telephone: (973) 53153 Fax: (973) 530455 Email: prinfo@mun.gov.bh http://www.municipality.gov.bh 22.MINISTRY OF SHURA COUNCIL & PARLIAMENTARY AFFAIRS & SHURA COUNCIL P.O.Box 2991 Manama Kingdom of Bahrain Tel: (+973) 17748888 Fax: (+973) 17714583 Email: info@shura.bh http://www.shura.bh 23.MINISTRY OF SOCIAL DEVELOPMENT & AFFAIRS PO Box 32868 Manama, Kingdom of Bahrain Tel:+ 973 17682422 Fax:+ 973 17682248 Email:info@social.gov.bh www.social.gov.bh 24.MINISTRY OF TRANSPORTATION P.O. Box 10325 Kingdom of Bahrain Tel: +973 17 534534 Fax: +973 17 534041 http://www.gop.bh 25.MINISTRY OF WORKS P.O. BOX 5, Manama, Kingdom of Bahrain Tel: +973 17545555 http://www.works.gov.bh

GOVERNMENT AUTHORITIES AND PUBLIC COMPANIES 1. BAHRAIN ECONOMIC DEVELOPMENT BOARD (EDB) Seef tower P.O. Box 11299 Manama Kingdom of Bahrain Tel: +973 17 58 99 99 Fax: +973 17 58 99 00 http://www.bahrainedb.com 2. BAHRAIN EXHIBITION AND CONVENTION COMPANY (BECC) P.O. Box 820 Manama Kingdom of Bahrain Tel: +973 17 561111 Fax :+973 17561109 e-mail: contactus@bmhc.bh www.bmhc.bh 3. BAHRAIN LUBE BASE OIL COMPANY Bahraini joint stock company, in which the Government of the Kingdom of Bahrain owns a 55% equity (represented by the Oil and Gas Holding Company which owns a 27.5% share and the Bahrain Petroleum Company (BAPCO) a 27.5% equity) and Neste Oil of Finland at 45%.

Contact details the same as NOGA HOLDING. GBCORP Tower, 19th Floor Building No. 1411, Road No. 4626, Block 346 Bahrain Financial Harbour District, P.O. Box 1435 Manama-Bahrain Email: info@noga.gov.bh Tel: +973 – 17312644 Fax: +973 - 17293007 http://www.noga.gov.bh 4. BAHRAIN NATIONAL GAS COMPANY (BANAGAS) P.O. Box 29099, Kingdom of Bahrain Telephone: +973 17 756222, Fax: +973 17 756991 E-Mail: bng@banagas.com.bh http://www.banagas.com.bh 5. BAHRAIN NATIONAL GAS EXPANSION COMPANY The Bahrain National Gas Company (B.S.C.) (BANAGAS) is 75% owned by the Government of the Kingdom of Bahrain, 12.5% by Chevron Bahrain and 12.5% by the Arab Petroleum Investment Corporation.

Contact details the same as NOGA HOLDING. GBCORP Tower, 19th Floor Building No. 1411, Road No. 4626, Block 346 Bahrain Financial Harbour District, P.O. Box 1435 Manama-Bahrain Email: info@noga.gov.bh Tel: +973 – 17312644 Fax: +973 - 17293007 http://www.noga.gov.bh

6. BAHRAIN PETROLEUM COMPANY (BAPCO) P.O. Box 25555 Awali - Bahrain Email: info@bapco.net Tel: (+973) 17704040 Fax: (+973) 17704070 http://www.bapco.net 7. CENTRAL BANK OF BAHRAIN – CBB PO Box 27, Manama Kingdom of Bahrain Tel: +973 1754 7777 Fax: +973 1753 0399 http://www.cbb.gov.bh 8. CIVIL AVIATION AUTHORITY P.O. Box 10325 Kingdom of Bahrain Tel: +973 17 534534 Fax: +973 17 534041 http://mot.gov.bh 9. CUSTOMS AFFAIRS Customs Affairs – Ministry of Interior PO Box 15,Manama Kingdom of Bahrain Tel: +973 17359999 http://www.customs.gov.bh 10. GOVERNMENT AUTHORITY / BAHRAIN NATIONAL ICT EGOVERNANCE COMMITTEE Al Barsha Building (Opposite Bahrain International Airport) Building no. 145, Road no.

2403, Block no. 224 Muharraq - Kingdom of Bahrain Telephone: +973 17 388 388 Fax: +973 17 388 338 P.O. Box: 75533 Email: info@ega.gov.bh http://www.ega.gov.bh 11. GENERAL ORGANISATION FOR SOCIAL INSURANCE (GOSI) Diplomatic Area P.O. Box 5319 Bahrain Tel: +973 17-532222 Fax: +973 17-530209 www.gosi.org.bh/ 12. GENERAL ORGANISATION FOR YOUTH AND SPORTS BAHRAINI OLYMPICS COMMITTEE P.O.Box 26406 Manama, Kingdom of Bahrain Tel: +973 1717 6666 Fax: +973 1717 6634 Email: info@boc.bh http://www.olympic.org/

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Who is Who

13. GENERAL ORGANISATION OF SEA PORTS & BAHRAIN LOGISTICS ZONE (BLZ) PO Box 75315 Hidd, Kingdom of Bahrain Tel: +973 17 359608 Fax: +973 17 359564 Email: blz_inquiry@mot.gov.bh http://www.gop.bh 14. GULF PETROCHEMICAL INDUSTRIES CO. (GPIC) P.O. Box 26730, Manama, Kingdom of Bahrain Telephone: (00973) 17731777 Fax: (00973) 17731047 http://www.gpic.com 15. INFORMATION AFFAIRS AUTHORITY (IAA) Isa Town, PO.BOX:5421 Kingdom of Bahrain Tel:+973 17 870 888 Fax: +973 17 871 888 Email : info@iaa.gov.bh http://www.iaa.bh 16. MUMTALAKAT HOLDING COMPANY P.O. Box 820 Manama Kingdom of Bahrain Tel: +973 17 561111 Fax:+973 17561109 e-mail: contactus@bmhc.bh www.bmhc.bh/ 17. NATIONAL BANK OF BAHRAIN P.O. Box 106 Manama Tel: +973 17228800 Fax: +973 17228998 Email: nbb@nbbonline.com http://www.nbbonline.com 18. NOGAHOLDING (THE OIL & GAS COMPANY) GBCORP Tower, 19th Floor Building No. 1411, Road No. 4626, Block 346 Bahrain Financial Harbour District, P.O. Box 1435 Manama-Bahrain Email: info@noga.gov.bh Tel: +973 – 17312644 Fax: +973 – 17293007 http://www.noga.gov.bh 19. PUBLIC COMMISSION FOR THE PROTECTION OF MARINE RESOURCES, ENVIRONMENT & WILDLIFE P.O. Box 5479 Diplomatic Area, Manama, Kingdom of Bahrain Email: info@moic.gov.bh Tel: +973 17568000 www.moic.gov.bh

20. SUPREME COMMITTEE FOR INFORMATION AND COMMUNICATION TECHNOLOGY (SCICT) Al Barsha Building (Opposite Bahrain International Airport) Building no. 145, Road no.

2403, Block no. 224 Muharraq - Kingdom of Bahrain Telephone: +973 17 388 388 Fax: +973 17 388 338 P.O. Box: 75533 Email: info@ega.gov.bh http://www.ega.gov.bh 21. TAMKEEN Seef District, Manama Kingdom of Bahrain P.O. Box: 18131 Manama, Kingdom of Bahrain, BCCI Tower (Beit Al Tijjar) Building 519 Road 1010 410 Sanabis Tel: +973 17383333 Fax: +973 17382700 http://www.lf.bh 22. TATWEER PETROLEUM COMPANY PO Box 25888, Awali, Kingdom of Bahrain T: (0973) 1714-8000 F: (0973) 1714-8001 E:info@tatweerpetroleum.com http://tatweerpetroleum.com 23. TELECOMMUNICATIONS REGULATORY AUTHORITY (TRA) PO Box 10353 Manama, Kingdom of Bahrain 5th Floor Building No. 852 Road No. 3618 Seef 436 Te: +973 1752 0000 Fax: +973 17532125 www.tra.org.bh 24. THE BAHRAIN AVIATION FUELLING COMPANY (BAFCO) Airport Road Muharraq Area P.O.Box 50500 Bahrain Tel: +973 17329400 Fax: +973 17336464 www.noga.gov.bh 25. BAHRAIN AIRPORT COMPANY Airport Avenue, Muharraq, Kingdom of Bahrain Tel: +973 17 353333 http://bahrainairport.com 26. BAHRAIN ALUMINIUM COMPANY (ALBA) PO Box: 570, Kingdom Of Bahrain T: + 973 - 17 830000 F: + 973 - 17 830083 www.aluminiumbahrain.com 27. BAHRAIN DEVELOPMENT BANK Diplomatic Area, Manama Kingdom of Bahrain Tel: + 973 17 511111 Fax: + 973 17 530116 http://www.bdb-bh.com

BUSINESS ASSOCIATIONS 1. BAHRAIN ASSOTIATION OF BANKS P.O. Box 1034 Manama Kingdom of Bahrain Tel:+973 1782 3000 Fax:+973 1782 0700 Email: admin@banksbahrain.org http://www.banksbahrain.org 2. BAHRAIN BRITISH BUSINESS FORUM (BBBF) P.O.Box : 10051 Manama, Kingdom of Bahrain Tel : +973 1781-3488, Fax : +973 1781-3489 Email : bbbforum@batelco.com.bh http://www.bbbforum.org 3. BAHRAIN CHAMBER OF COMMERCE P.O. Box 248 Manama Kingdom of Bahrain Phone +973 17380000 Fax +973 17380123 E-mail bcci@bcci.bh http://www.bcci.bh 4. BAHRAIN PROPERTY DEVELOPMENT ASSOCIATION P.O. Box 75858, Manama Kingdom of Bahrain Tel : +973-7722 2277.

Fax : +973-7766 6677 www.bapda.bh 5. CAPITAL CLUB BAHRAIN Financial Harbour PO Box 76181 Manama T +973 17 100100 E info@capitalclubbahrain www.capitalclubbahrain.com 6. ENTREPRENEUR ASSOCIATION *** no address in Manama, see below offices avalible: Entrepreneurs’ Organization – Global Headquarters 500 Montgomery Street, Suite 700 Alexandria, VA 22314 USA T +1.703.519.6700 F +1.703.519.1864 Entrepreneurs’ Organization – Asia/South Asia/Pacific 20A West Coast Road, #05-32 The Stellar #06-07 Pavillion 11 Singapore 126820 T +65.6778.2248 Entrepreneurs’ Organization-Canada 2777 Claude Road V9B 3T9 Victoria, BC Canada T +703.519.6700 F +250.391.2959 Entrepreneurs’ Organization – Europe/Africa/Middle East T +353.1.668.9984 Entrepreneurs’ Organization – Latin America/Caribbean World Trade Center Panama, Suite 5414 PO Box 0832-1276

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Panama City, Panama T +507.6672.1084 General questions and information: info@eonetwork.org http://eoaccess.eonetwork.org/ 7. SUPREME COUNCIL FOR WOMEN PO Box: 38886 Manama Kingdom of Bahrain Tel: (+973) 17417171 E-mail: info@scw.bh http://www.scw.gov.bh 8. UNIDO (NAME OF THE PROJECT :EDIP - THE ENTERPRISE DEVELOPMENT AND INVESTMENT PROMOTION (ALSO KNOWN AS THE BAHRAIN MODEL) ***No address Telephone: +973 17536881 Fax: +973 17536883 Email: registrar@arceit.org http://www.arceit.org

ENERGY SOURCES 1.AL DUR POWER AND WATER COMPANY Orchid Business Center Street 2853 Seef Area Block 428 11753 Manama Kingdom of Bahrain Tel: +973 17-561888 Fax: +973 17-583233 http://www.gic.com.kw 2.ARAB PETROLEUM INVESTMENT CORPORATION (“APICORP”) Al-Moayyed Tower Building (26th Floor) PO Box 18616, Road 2832, Block 428, Al-Seef District Manama, Kingdom of Bahrain Telephone: +973 (0) 17 563 777 Telefax: +973 (0) 17 581 337 http://www.apic.com 3. BAHRAIN AVIATION FUELLING COMPANY Airport Road Muharraq Area P.O.Box 50500 Bahrain Tel: +973 17329400 Fax: +973 17336464 www.noga.gov.bh 4. BAHRAIN LUBE BASE OIL COMPANY Bahraini joint stock company, in which the Government of the Kingdom of Bahrain owns a 55% equity (represented by the Oil and Gas Holding Company which owns a 27.5% share and the Bahrain Petroleum Company (BAPCO) a 27.5% equity) and Neste Oil of Finland at 45%.

Contact details the same as NOGA HOLDING. GBCORP Tower, 19th Floor Building No. 1411, Road No. 4626, Block 346 Bahrain Financial Harbour District, P.O. Box 1435 Manama-Bahrain Email: info@noga.gov.bh

Tel: +973 – 17312644 Fax: +973 - 17293007 http://www.noga.gov.bh 5. BAHRAIN NATIONAL GAS COMPANY (BANAGAS) P.O. Box 29099, Kingdom of Bahrain Telephone: +973 17 756222, Fax: +973 17 756991 E-Mail: bng@banagas.com.bh http://www.banagas.com.bh 6. BAHRAIN NATIONAL GAS EXPANSION COMPANY The Bahrain National Gas Company (B.S.C.) (BANAGAS) is 75% owned by the Government of the Kingdom of Bahrain, 12.5% by Chevron Bahrain and 12.5% by the Arab Petroleum Investment Corporation.

Contact details the same as NOGA HOLDING. GBCORP Tower, 19th Floor Building No. 1411, Road No. 4626, Block 346 Bahrain Financial Harbour District, P.O. Box 1435 Manama-Bahrain Email: info@noga.gov.bh Tel: +973 – 17312644 Fax: +973 - 17293007 http://www.noga.gov.bh 7. BAHRAIN PETROLEUM COMPANY (BAPCO) P.O. Box 25555 Awali - Bahrain Email: info@bapco.net Tel: (+973) 17704040 Fax: (+973) 17704070 http://www.bapco.net 8. BP P.O Box 50500 Building 175, Road 2403, Block 224 Muharraq, Kingdom of Bahrain Phone: +973 329 400 Fax: +973 336 464 http://www.bp.com 9. CHEVRON Building 936 Road 4522 Awali Area 25125 Kingdom of Bahrain Tel: +973 17-753101 Fax: +973 17-753122 Email: main@caltex.com.bh www.chevron.com 10. DUPONT Yateem Oxygen Shaikh Sulman Road P.O. Box 60 Bahrain Arabian Gulf Ph: +973 17 404 758 Fx: +973 17 400 446 http://www2.dupont.com 11. EWA - ELECTRICITY AND WATER AUTHORITY Electricity and Water Authority (EWA) Customer Services Directorate P.O.Box: 2098 Manama Kingdom of Bahrain Email : customercare-ewa@ewa.bh Tel: (00973) 17 515555 http://www.mew.gov.bh

Who is Who 12. GULF PETROCHEMICAL INDUSTRIES CO. (GPIC) P.O. Box 26730, Manama, Kingdom of Bahrain Telephone: (00973) 17731777 Fax: (00973) 17731047 http://www.gpic.com

3. ALI RASHID AL AMIN CO Building No. 733 Road No.113 Sitra Industrial Area P. O. Box 643 Manama Kingdom of Bahrain Tel. : +973 17732220 Fax : +973 17730078 Email : aralamin@batelco.com.bh http://www.aralamin.com

13. NOGAHOLDING (THE OIL & GAS COMPANY) GBCORP Tower, 19th Floor Building No. 1411, Road No. 4626, Block 346 Bahrain Financial Harbour District, P.O. Box 1435 Manama-Bahrain Email: info@noga.gov.bh Tel: +973 – 17312644 Fax: +973 – 17293007 http://www.noga.gov.bh

4. ALUMINIUM BAHREIN (ALBA) PO Box: 570, Kingdom Of Bahrain T: + 973 - 17 830000 F: + 973 - 17 830083 www.aluminiumbahrain.com

14. OCCIDENTAL PETROLEUM Occidental Petroleum Corporation (NYSE:OXY), Mubadala Development Company (Mubadala) and the National Oil and Gas Authority of Bahrain (NOGA) announced the creation of a new joint operating company, Tatweer PetroleumBahrain Field Development Company (Tatweer Petroleum), which will serve as the operator for the Bahrain Field.

No address in Bahrain , see contact details of Tatweer: PO Box 25888, Awali, Kingdom of Bahrain T: (0973) 1714-8000 F: (0973) 1714-8001 E:info@tatweerpetroleum.com http://tatweerpetroleum.com 15.TATWEER PETROLEUM PO Box 25888, Awali, Kingdom of Bahrain T: (0973) 1714-8000 F: (0973) 1714-8001 E:info@tatweerpetroleum.com http://tatweerpetroleum.com 16. THE BAHRAIN AVIATION FUELLING COMPANY (BAFCO) Airport Road Muharraq Area P.O.Box 50500 Bahrain Tel: +973 17329400 Fax: +973 17336464 www.noga.gov.bh

RETAIL & COMMERCE 1. AHMED ZAYANI & SONS Post Box No: 26332, 131 Shaikh Salman Highway, Zinj 358, Manama, 358, Kingdom of Bahrain Tel: +973-1723882 www.ahmedzayani.com 2. AL HADDAD MOTORS P.O. Box 242 Manama Kingdom of Bahrain Tel. (+973) 1 7785454 Fax (+973) 1 7785241 Email: sales@alhaddadmercedesbenz.com http://www.alhaddadmercedesbenz.com

5. ALUMINUM EXTRUSION COMPANY (BALEXCO) Sitra, Kingdom of Bahrain Tel: +973 – 17734353 Fax: +973 - 17736924. www.balexco.com.bh 6. BAHRAIN FLOUR MILLS CO. P.O. Box 26787 Manama Kingdom of Bahrain Phone: +973 17729984 Fax: +973 17729 312 E-Mail: bfmbsc@batelco.com.bh http://www.bfm.bh 7. BAHRAIN INTERNATIONAL INVESTMENT PARK Building Shaikh Khalifa bin Salman Port street Muharraq Area 50502 Hidd Kingdom of Bahrain Tel: +973 17-467373 Fax:+973 17-467300 http://www.biip.com.bh 8. BAYTIK INDUSTRIAL OASIS P.O. Box 50845, Al Hidd, Kingdom of Bahrain Tel: +973 77 00 300 Fax: +973 77 00 3707 Email: info@bio.bh http://www.bio.bh 9. FIRST MOTORS PO Box 11173 Kingdom of Bahrain Tel: +973 17121121 Fax: +973 17121122 email: sales@1stmotors.com http://www.1stmotors.com 10. GENERAL TRADING & FOOD PROC. CO. (TRAFCO) P.O Box: 20202 Manama Kingdom of Bahrain Telephone: 00973 17 729 000 Fax: 00973 17 727 380 E-mail: info@trafco.com http://www.trafco.com 11. GULF ALUMINIUM ROLLING MILL COMPANY (“GARMCO”) North Sitra Industrial Area, PO Box 20725, Manama, Kingdom of Bahrain Tel: +973 17734600 Fax: + 973 17730542 Email: wajdi@garmco.com www.garmco.com

CONGLOMERATES 1. A. K. ALMOAYYED INTERNATIONAL GROUP Head Office Address: Refinery Road No. 3501 Area 635, Mameer, P.O. Box 26259, Manama, Kingdom of Bahrain Tel: (00973) 17 700777 Fax: (00973) 17 701211 E-Mail: aigbah@ almoayyedintl.com.bh http://www.almoayyedintl.com 2. A.A BIN HINDI - BSC © P.O. Box 632, Manama, Kingdom of Bahrain Tel:+973 17408000 Fax: +973 17400761 http://www.binhindi.com

3. AHMED ZAYANI & SONS P.O Box 26322, Manama, Kingdom of Bahrain Tel: +973 1723 8822 Fax: +973 1723 8806 Email: azco@ahmedzayani.com http://www.ahmedzayani.com 4. AL ZAYANI INVESTMENTS (GROUP) Zayani House P.O. Box: 5553 Manama, Kingdom of Bahrain Tel : +973 1753 1177 Fax : +973 1753 2912 http://www.alzayani.com 5. AMA GROUP (AHMED MANSOOR AL AALI GROUP) P.O Box 778 146 Shaikh Salman Highway, Salihiya 356 Manama, Kingdom of Bahrain Tel. +973 17 265555 Fax. +973 17 262323 Email: amagroup@al-aali.com www.al-aali.com 6. BEHBEHANI BRO Government Avenue Bldg, 2nd Floor,Manama Kingdom of Bahrain Telephone: +973 17 53 15 02 Fax: +973 17 53 60 70 Government Avenue Bldg, www.behbehani.com.bh 7. DADABHAI GROUP P.O. Box 20531, Manama, Kingdom of Bahrain Tel: +973 17 255 209 Fax: +973 17 251 995 Email: info@ dadabhaiconstruction.com http://www.dadabhai.com 8. JAWAD GROUP P. O. Box 430 Manama, Kingdom of Bahrain Tel: 00973 1725303 http://www.jawad.com

9. KANOO GROUP P.O.Box : 119 Bldg:510,Qassim Al-Mehzaa Road Road No: 225,Block: 302 Manama Kingdom of Bahrain Telephone: (+973) 17262262 Fax: (+973) 17258865 http://www.ekkanoo.com.bh 10. NASS GROUP Building 453, Road 4308, Block 343, Mina Salman Industrial Area, Post Box: 669, Manama, Kingdom of Bahrain.

Phn: +973 17 725 522 Fax: +973 17 728 18 http://www.nassgroup.com 11. PEPSI FACTORY (AHMEDI FAMILY) PO Box 34. Salmaniya Kingdom of Bahrain.

Telephone: +973 17271333 Fax: +973 17271712 12. Y. K. ALMOAYYED & SONS P.O. Box 143, Kingdom of Bahrain Tel: (+973) 17 211 211 Fax: (+973) 17 211 885 Email: almoayyed@ almoayyed.com.bh www.almoayyed.com 13. YATEEM GROUP P.O: 128, Manama Kingdom of Bahrain Tel: +973-17-253397 Fax: +973-17-242264 Email: aayateem@batelco.com.bh http://www.yateemgroup.com 14. YUSUF BIN AHMED KANOO GROUP Building No.2, Abu Obeidha Avenue, Block: 304 Road: 302, P.O. Box: 45, Manama, Kingdom of Bahrain Phone: +973 1722 0220 Fax: +973 1722 9122 Email: infobah@ybakanoo.net http://kanoo.com

REAL ESTATE & CONSTRUCTION 1. AL AREEN HOLDING COMPANY Sakhir Kingdom of Bahrain P.O.Box: 18108 Manama Kingdom of Bahrain Tel: +973 17838666 Fax: +973 17837778 Email: info@alareenholding.com www.alareenholding.com 2. AL HAMAD GROUP OF COMPANIES Al Hamad Construction & Development (Bahrain) P.O.Box : 1125 Manama Kingdom of Bahrain Tel : +973-17213212 Fax : +973-17213910 Email: info.bahrain@al-hamad.com www.al-hamad.com

3. AMWAJ PROPERTY DEVELOPMENT COMPANY (OSSIS PROPERTY DEVELOPERS) P.O.Box 7534 Manama, Kingdom of Bahrain T: +973 16033100 F: +973 16033101 E: info@amwaj-islands.com www.amwaj-islands.com 3. BAHRAIN BAY PO Box 5092 Manama, Kingdom of Bahrain Tel: + 973 17 50 5555 Fax: + 973 17 50 5550 Email : info@bahrainbay.com www.bahrainbay.com 4. BAHRAIN FINANCIAL HARBOUR HOLDING COMPANY (BFHHC) - (49% stake Emaar, a Bahrain based investment company ) Bahrain Real Estate Investment Company (“Edamah”) Manama, Kingdom of Bahrain Tel: +973-17563563 Fax: +973-17104746 Email: info@bfharbour.com www.bfharbour.com 5. CEBARCO BAHRAIN P. O. Box 28812, Manama, Kingdom of Bahrain.

Tel. +973 17722237, Fax. +973 17722001, Email: cebarco@kar-group.com www.cebarco.com.bh 6. DIYAR AL-MUHARRAQ P.O.Box 75777 Manama, Kingdom of Bahrain Tel:+973 77155555 Fax:+973 77055555 www.diyar.bh 7. DTZ (MANAGING AND LEASING COMPANY OF BWTC) P.O. Box 10676 Bahrain Kingdom of Bahrain Tel:+973 1769 2476 Fax+973 1713 1244 http://www.dtz.com 8. DURRAT AL BAHRAIN HOLDING COMPANY (Durrat Al Bahrain Project, 50/50 partnership between Kuwait Finance House and the government’s investment arm Mumtalakat & Durrat Marina project) P.O.Box 820 Manama Kingdom of Bahrain Tel: +973 1756111 Fax:+973 17561109 http://www.bmhc.bh/ 9. FIRST BAHRAIN Almoayed Tower, Suite501, Al Seef, P.o.Box 75622, Manama Kingdom of Bahrain Tel:+973-17567555 Fax: +973-17567556 Email:info@firstbahrain.com www.firstbahrain.com

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Who is Who 10. HARBOUR 360 BUSINESS CENTRE Bahrain Financial Harbor, East Tower, 11th Floor Manama, Kingdom Of Bahrain Tel: +973 165360000 Fax: +973 165360001 Email : Info@h3sixty.com *** NO WEB 11. ITHMAAR DEVELOPMENT COMPANY (IDC) - DILMUNIA HEALTH ISLAND P.O. Box 2820, Seef Tower, Manama, Kingdom of Bahrain Fax:+973-17583772 Email:Info@dilmuniaatbahrain.com Address: Manama, Bahrain http://ithmaarbank.com 12. KOOHEJI CONTRACTORS P.o.Box 1041, Manama, Kingdom of Bahrain Tel: +97317786500 Fax: +973 - 17786565 http://www.koohejicontractor.com/ 13. MANARA DEVELOPMENT P.O.Box 2194 Manama Kingdom of Bahrain Tel: +973 1751 8666 Fax: +973 1713 1074 Email: info@manara.bh http://www.manara.bh 14. NASEEJ PROPERTIES P.O. Box 75858, Manama Kingdom of Bahrain Tel : +973-7722 2277 Fax : +973-7766 6677 Email : info@bapda.bh www.naseejproperties.com 15. Riffa Views Development Tel: +973-17757999 Email : www.riffaviews.com *** NO ADRESS 16. SEEF PROPERTIES (OWNERS OF SEEF MALL, FRASER SUITES, ISA TOWN MALL) P.O. Box 20084, Manama Kingdom of Bahrain Phone: +973 17582888 Fax: +973 17581888 E-mail Address: mailbox@ seefproperties.com www.seefproperties.com 17. TAMEER - AL KHALEEJ DEVELOPMENT COMPANY B.S.C.(DURRAT MARINA PROJECT) Bahrain-Financial-Harbor, East Tower P.O. Box 18334 , Manama Kingdom of Bahrain Tel: (+973) 17 155 755 Fax: (+973) 17 155 855 Email: info@tameer.com www.tameer.com

18. THE BAHRAIN INVESTMENT WHARF (BIW) P.O.Box : 21903 Manama, Kingdom of Bahrain Tel: +973 69990000 Fax: +973 69990011 Email: info@bahiw.com Website: http://www.bahiw.com/

INFRASTRUCTURE, TRANSPORT & LOGISTICS 1. NASS GROUP Building 453, Road 4308, Block 343, Mina Salman Industrial Area, Post Box: 669, Manama, Kingdom of Bahrain.

Phn: +973 17 725 522 Fax: +973 17 728 184 Telex: 8243 NASCON BN Email: nassbah@batelco.com.bh www.nassgroup.com

8. BAHRAIN DUTY FREE P.O.Box 1714 Manama Kingdom of Bahrain Email: info@bdutyfree.com Tel: +973 17 723100 Fax: +973 17 725511 www.bdutyfree.com

18. GULF AIR P.O. Box 138 Manama Kingdom of Bahrain Tel: +973-17373737 Fax: +973-17224494 www.gulfair.com

9. BAHRAIN INTERNATIONAL AIRSHOW ***NO INFO

19. GULF AVIATION ACADEMY P.O. Box 23773 Muharraq Kingdom of Bahrain Tel: +973-17357777 Fax: +973-17357888 Email : info@gaa.aero http://gaa.aero

10. BAHRAIN INTERNATIONAL INVESTMENT PARK (BIIP) ***NO INFO 11. BAHRAIN LOGISTICS ZONE (BLZ) P.O.Box : 75315 Hidd, Kingdom of Bahrain Tel: +973-17359608 Fax: +973-17359564 Email : blz_inquiry@mot.gov.bh http://www.gop.bh

2. APM TERMINAL Khalifa Bin Salman Port PO Box 50490 Hidd, Kingdom of Bahrain Phone: +973 1736 5500 Fax: +973 1736 5505 Email: admbah@apmterminals.com www.apmterminals.com

12. BAHRAIN MARITIME & MERCANTILE INTERNATIONAL. CO. P.O. Box 828, Manama Kingdom of Bahrain Tel: +973 17739444 Fax: + 973 17739444 http://www.bmmigroup.com

3. ARAB SHIPBUILDING & REPAIR YARD - ASRY P.O.Box : 50110, Hidd Kingdom Of Bahrain Tel: +973-17671111 Fax:+973-17670236 Telex 8455 ASRY BN Email: asryco@batelco.com.bh www.asry.net 4. ARAMEX Tel: +973 - 17330434 Fax: +973 - 17330636 Website: www.aramax.com ***NO ADRESS!!

13. CIVIL AVIATION AFFAIRS (CAA) Civil Aviation Affairs Building Bahrain International Airport Area 586 Manama, Kingdom of Bahrain Tel: +973 17-321196 Fax: +973 17-321139 abdulsatar.alalawi@caa.gov.bh www.caa.gov.bh

5. BAHRAIN SHIP REPAIRING & ENGINEERING CO. BASREC Building Block 343 Road 42 Mina Salman Industrial Area 568 Kingdom of Bahrain Tel: +973 17-725300 Fax: +973 17-729891 Email: mainoffice@basrec.com www.basrec.com 6. BAHRAIN AIRPORT COMPANY Airport Avenue, Muharraq Kingdom of Bahrain Tel:+973-17353333 www.bahrainairport.com 7. BAHRAIN AIRPORT SERVICES E-mail : mgmt@bas.com.bh Tel : +973 17-321701 Fax: +97317-321761 www.bas.com.bh

14. CUSTOMS AFFAIRS P.O.Box : 15, Manama , Kingdom of Bahrain Tel: +973 17359999 Email: info@customs.gov.bh http://www.bahraincustoms.gov.bh 15. DHL Noor Building Umm Al Hassam P.O.Box 5741 Manama, Kingdom of Bahrain Tel: +973 17364100 www.dhl.com.bh 16. FEDEX *** NO ADRESS Tel: +973-17-334448 www.fedex.com 17. GENERAL ORGANISATION OF SEA PORTS & BAHRAIN LOGISTICS ZONE (BLZ) P.O.Box 10325 Manama Kingdom of Bahrain Tel: +973 17534534 Fax: +973 17534041 www.gop.bh/

5. ALTAIRA WEALTH MANAGEMENT ***Altaira Wealth Management is a subsidiary in Bahrain, no physical address or any other contact details

20. HAJI HASSAN AL AALI P.O.Box 530, Manama Kingdom of Bahrain Tel : +973 -17551111 Fax: +973 -17552680 Email: headoffice@hajihassan.com www.hajihassan.com 21. UPS P.O. Box 113 Manama Centre Kingdom of Bahrain Tel.: + 0973 -17- 223-123 Fax: + 0973-17-224-467 E-mail: webmaster@ups.com http://www.ups.com

FINANCE AND INSURANCE 1. ABC (ARAB BANKING CORPORATION) ABC Tower, Diplomatic Area P.O. Box 5698, Manama, Kingdom of Bahrain Tel: +97317 543000 Fax: +973 17 533163 http://www.arabbanking.com

2. AHLI UNITED BANK (AUB) Ahli United Bank BSC Building 2495, Road 2832, Al Seef District 428 P.O. Box 2424, Manama, Kingdom of Bahrain Telephone:(973) 17 585858 Facsimile: (973) 17 580569 Email: info@ahliunited.com http://www.ahliunited.com 3. AL BARAKA ISLAMIC BANK Al Baraka Tower , P.O. Box 1882 Manama , Kingdom of Bahrain Tel: +973 17 535 300 Fax: +97317 533 993 Website: www.albaraka.bh 4. AL-AHLIA INSURANCE CO. Old Chamber of Commerce Building Bab Al Bahrain Area 5282, 4th floor Kingdom of Bahrain Email: alahlia@alahlia.com Tel: +973 17-225860 www.alahlia.com

6. BAHRAIN BOURSE Bahrain Financial Harbour P.O.Box 3203 Manama, Kingdom of Bahrain Tel: +97 17261260 Fax: +97317210736 Email: csd@bahrainbourse.com.bh http://www.bahrainbourse.net 7. BAHRAIN INVESTMENT WHARF (BIW) P.O.Box: 21903, Manama Kingdom of Bahrain Tel: +973 6999 0000 Fax: +973 6999 0011 Email:info@bahiw.com http://www.bahiw.com 8. BAHRAIN ISLAMIC BANK PO Box 5240 Manama, Kingdom of Bahrain Tel: +973 17 51 51 51 Fax: +973 17 535 808 http://bisb.com 9. BAHRAIN KUWAIT INSURANCE CO P.O.Box 10166 Manama Kingdom of Bahrain Email: info@gig.com.bh Tel:+ 973 17 119999 Fax: +973 17 921111 http://www.bkic.com 10. BAHRAIN MIDDLE EAST BANK BMB Centre Building 135 Road 1702 Block 317 Diplomatic Area 797 Kingdom of Bahrain Tel: +973 17-532345 Fax: +973 17-530987 Email: requests@bmb.com.bh www.bmb.com.bh 11. BAHRAIN NATIONAL HOLDING BNH Tower, Seef Business District, Email: bnh@bnhgroup.com Tel: +97317 587 300 Fax: +97317 583 099 http://www.bnhgroup.com 12. BANK AL KHAIR Building 2304 Road 2830 Block 0428 Al Seef District 31700 Kingdom of Bahrain Tel: +973 17-566000 Fax: +973 17-566001 Email: contact@bankalkhair.com http://www.bankalkhair.com 13. BANK MUSCAT / BMI BANK P.O. Box 350, Manama Kingdom of Bahrain Tel: +973 17 220 924 Fax: +973 17 215 004 http://www.bmi.com.bh/

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Who is Who

14. BANK OF BAHRAIN AND KUWAIT (BBK) Government Avenue Tel: +973 17 259111 +973 17 207577 Fax: +973 17 210636 Email: main@bbkonline.com Website: http://www.bbkonline.com/ 15. BENEFIT NBB Tower Government Road 2546 Kingdom of Bahrain Tel:+973 17-500400 Fax: +973 17-500401 Email: tbcinfo@benefitco.com.bh www.benefitco.com.bh 16. BNP PARIBAS BAHRAIN Souad Hindawi Telephone: +973 1786 6607 Fax: +973 1786 6601 http://me.bnpparibas.com 17. CAPITAL MANAGEMENT HOUSE (CMH) West Tower Street 365 World Trade Center Area 1001 Kingdom of Bahrain Tel: +973 17-510000 Fax: +973 17-510051 Email: info@capitalmh.com www.capitalmh.com 18. CENTRAL BANK OF BAHRAIN - CBB PO Box 27 Manama Kingdom of Bahrain Tel: +973 1754 7777 Fax: +973 1753 0399 Email: nfo@cbb.gov.bh http://www.cbb.gov.bh 19. CITIBANK BAHRAIN Citibank House Building 1133 Road 2819 Area 428 Al Seef District 548 Kingdom of Bahrain Tel: +973 17-588588 Fax: +973 17-214448 www.citigroup.com 20. ESKAN BANK Khalid Abdul Malik Branch Manager Seef Districts, Almoayyed Tower PO Box 5370, Seef Area,Kingdom of Bahrain Tel: (+973) 17 567777 Fax: (+973) 17 564 114 Email: inquiries@eskanbank.com http://eskanbank.com 21. ESTERAD INVESTMENT COMPANY B.S.C. Seef District, PO Box 1080, Kingdom of Bahrain Tel:+973 17655687 http://www.esterad.net

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22. FIRST ENERGY BANK West Tower, 20th floor Bahrain Financial Harbour PO Box 209 Tel: +973 17170000 Fax: +973 17170170 Manama, Kingdom of Bahrain http://www.1stenergybank.com 23.GENERAL ORGANISATION FOR SOCIAL INSURANCE Diplomatic Area 5319 Manama Kingdom of Bahrain Tel: +973 17-532222 Fax: +973 17-530209 Email: public.relations@ mail.gosi.org.bh www.gosi.org.bh 24. HSBC BAHRAIN P.O. Box 57, Building 2505, Road 2832, Seef 428, Kingdom of Bahrain Tel:+973 17569999 http://www.hsbc.com.bh 25. INVESTCORP BANK PO Box 5340 Manama Kingdom of Bahrain Tel: + 973 17532000 Fax: + 973 17530816 Email: info@investcorp.com www.investcorp.com 26.ITHMAAR BANKING GROUP P. O. Box: 2820, Manama, Kingdom of Bahrain Tel: +973 13 30 30 30 Email: complaint@ithmaarbank.com http://www.ithmaarbank.com 27. KHALEEJI COMMERCIAL BANK (KHCB) Harbour Tower East Bahrain Financial Harbour Area 60002 kingdom of Bahrain Tel: +973 17-505701 Fax; +973 17-104779 Email: info@khcbonline.com http://www.khcbonline.com 28. KUWAIT FINANCE HOUSE Bahrain World Trade Center, West Tower Manama Kingdom of Bahrain P.O. Box 2066 Phone: +973 7777 7777 Fax: +973 77 000 600 http://www.kfh.bh 29.MAWTEN Y AXA INSURANCE CO PO Box 10515 Manama Kingdom of Bahrain Phone: +973 17 530 510 www.axa.com

30. MEDGULF THE MEDITERRANEAN & GULF INSURANCE & REINSURANCE CO *** Saudia Arabia!!!

Futuro Tower Maathar Street 2302 Saudi Arabia +966 1-477-9229 +966 1-405-5588 riyadh@medgulf.com www.medgulf.com.sa 31. MERITAS P.O.Box 54504 Sitra, Kingdom of Bahrain Tel.: +973 17730540 Fax: +973 17737906 E-Mail: abdul@bmco.biz www.meritas.bh 32. NATIONAL BANK OF BAHRAIN P.O.Box 106 Manama, Kingdom of Bahrain Tel: +973 17228800 Fax: +973 17228998 Email: nbb@nbbonline.com http://www.nbbonline.com/ 33. SECURITIES AND INVESTMENT CO BMB Building Diplomatic Area 1331 Kingdom of Bahrain Tel: +973 17-515000 Fax: +973 17-516060 Email: info@sicobahrain.com www.sicobahrain.com 34. STANDARD CHARTERED BANK BAHRAIN Building No. 180 Road:383 Block:315 Government Road Manama Kingdom of Bahrain Tel: +973 17 223 636 Fax: +973 17 225 001 http://www.standardchartered.com 35. TAIB BANK P.O.Box 20485 Manama Kingdom of Bahrain Tel: +97317-549-499 Fax: + 97317-531-213 Email: tsinquiry@taib.com http://www.taib.com 36. TAKAFUL INTERNATIONAL COMPANY Building 680 Road 2811 Seef District 428 3230 Kingdom of Bahrain Tel: +973 17565656 Fax: 973 17582688 Email: akaful@takafulweb.com www.takaful.bh 37. TAS’HEELAT (BAHRAIN COMMERCIAL FACILITIES COMPANY BSC) Bahrain Credit Building , POBox 1175, Manama, Kingdom of Bahrain Phone:+ 973 17786000 Fax:+973 17786010 Email:bcredit@bahraincredit.com.bh www.bahraincredit.com.bh

38. TENMOU *** You can only contact them thru their website! http://www.tenmou.me 39. THE ARAB INVESTMENT COMPANY King Mohammad IV Avenue Al Seef District 428 5559 Kingdom of Bahrain Tel:+973 17-588888 Fax; +973 17-588885 Email: taic@taicobu.com www.arabinv.com 40. UNITED FINANCE COMPANY SAOG *** NO office in Bahrain, only Oman ( in GGC Region ) United Finance Company Building Al Rumaila Street Wattayah Area 3652 Oman Tel:+968 24-577300 Fax; +968 24-561841 Email: ufc@ufcoman.com www.ufcoman.com 41. UNITED GULF INVESTMENT BANK United Gulf Bank Tower Government Road Diplomatic Area 5964 Kingdom of Bahrain Tel: +973 17-533233 Fax: +973 17-533137 Email: info@ugbbah.com www.ugbbh.com 42. UNITED GULF INVESTMENT CORPORATION B.S.C (PREVIOUSLY KNOWN AS UNITED INDUSTRIES CORPORATION) Almoayyed Tower, Seef District P.O.Box: 10177 Manama, Kingdom of Bahrain Tel: +973 17 581654 Fax: +973 17 581644 E-mail: info@ugiccorp.com http://www.ugiccorp.com 43. Venture Capital Bank Building 247. Road 1704, Block 317. Diplomatic Area, Manama Kingdom of Bahrain T +973 17 518 888 F +973 17 518 880 E info@VC-Bank.com http://www.vc-bank.com

EDUCATION, TRAINING & EMPLOYMENT 1. TAMKEEN Seef District, Manama Kingdom of Bahrain P.O. Box: 18131 Manama, Kingdom of Bahrain, BCCI Tower (Beit Al Tijjar) Building 519 Road 1010 410 Sanabis Tel: +973 17383333 Fax: +973 17382700 http://www.lf.bh

2. BAHRAIN INSTITUTE OF BANKING AND FINANCE P.O. Box 20525 Manama Kingdom of Bahrain Tel: +973 1781 5555 Fax: +973 1772 9928 http://www.bibf.com 3. BAHRAIN SCHOOL PO Box 934. Juffair, Kingdom of Bahrain Telephone: +973 1771-9829 Fax: +973 1772-7828 www.bahr-ehs.eu.dodea.edu/ 4. BAYAN SCHOOL *** No physical address!

Tel: +973 - 77122244 Fax: +973 - 17780019 Email: bayanschool@bayan.edu.bh http://www.bayanschool.edu.bh 5. INJAZ BAHRAIN *** No physical office! +973 1722505 http://injazbh.org 7. NATIONAL INSTITUTE NIT *** Before it used to be NIIT, now it is NIT P.O.Box 933, Manama, Kingdom of Bahrain Tel: Tel (+973) 17 74 00 33 Fax: (+973) 17 740 500 Email: info@nit-me.com http://www.nit-me.com 7. SAINT CHRISTOPHER SCHOOL PO Box 32052, Isa Town, Kingdom of Bahrain Tel: +973 17 598 500 Fax: +973 17 598 492 Email: admissions.school@st-chris.ne http://www.st-chris.net 8. UNIVERSITY OF BAHRAIN (UOB) P.O Box Manama Kingdom of Bahrain Tel: 17438855-973 E-mails: ralbaker@admin.uob.bh http://www.uob.edu.bh 9. AL AHLIA UNIVERSITY Gosi Complex Post Office Box 10878 Manama, Kingdom of Bahrain Telephone: +973 17 298999 www.ahlia.edu.bh/

ICT 1. BATELCO P.O. Box 14, Manama, Kingdom of Bahrain Email: biz@btc.com.bh Tel: +97339611196 Fax: +97317919191 www.batelco.co

Who is Who 2. ARAB SATELLITE COMMUNICATIONS ORGANISATION (“ARABSAT”) *** No office or other contact details in Bahrain only in Saudi Arab Satellite Communications Organization Building Abdullah Bin Hutafa Al Sahmy Street Diplomatic Quarter 1038 Saudi Arabia Tel: +966 1-482-0000 http://www.arabsat.com 3. EGOVERNMENT AUTHORITY / BAHRAIN NATIONAL ICT EGOVERNANCE COMMITTEE Al Barsha Building (Opposite Bahrain International Airport) Building no. 145, Road no.

2403, Block no. 224 Muharraq - Kingdom of Bahrain Telephone: +973 17 388 388 Fax: +973 17 388 338 P.O. Box: 75533 Email: info@ega.gov.bh http://www.ega.gov.bh 4. MENA TELECOM (KUWAIT FINANCE HOUSE) P.O. Box 3173, Manama, Kingdom of Bahrain Tel: +9737077077 Fax: +973-77360000 http://www.menatelecom.com 5. MICROSOFT Microsoft Bahrain Al Moayyed Tower 34th floor Seef District Manama.

Kingdon of Bahrain Phone: +97317563625 http://www.microsoft.com 6. TELECOMMUNICATIONS REGULATORY AUTHORITY (TRA) PO Box 10353 Manama, Kingdom of Bahrain 5th Floor Building No. 852 Road No. 3618 Seef 436 Te: +973 1752 0000 Fax: +973 17532125 www.tra.org.bh 7. VIVA BAHRAIN (STC TELECOM) Viva Bahrain Building Block 428 Seef District 21529 Manama Kingdom of Bahrain Tel: +973 33124124 Email: customercare@viva.com.bh www.viva.com.bh 8 ZAIN BAHRAIN Zain Bahrain Tower Road 2806, Building 401, Block 428 P.O.Box 266 Manama, Kingdom Bahrain http://www.bh.zain.com/

AGRICULTURE 1. PUBLIC COMMISSION FOR THE PROTECTION OF MARINE RESOURCES, ENVIRONMENT & WILDLIFE P.O. Box 5479 Diplomatic Area, Manama, Kingdom of Bahrain Email: info@moic.gov.bh Tel: +973 17568000 www.moic.gov.bh

TOURISM 1. BAHRAIN EXHIBITION AND CONVENTION COMPANY (BECC) P.O. Box 820 Manama Kingdom of Bahrain Tel: +973 17 561111 Fax :+973 17561109 e-mail: contactus@bmhc.bh www.bmhc.bh 2. BAHRAIN INTERNATIONAL CIRCUIT COMPANY S.P.C. (“BIC”) P.O.Box 26381 Sakhir Kingdom of Bahrain Tel: +973 1745 0000 Fax: +973 1745 1111 Email: info@bic.com.bh www.bahraingp.com 3. BAHRAIN INTERNATIONAL GOLF COURSE COMPANY & ROYAL GOLF CLUB Royal Golf Club PO Box 39117 Riffa Kingdom of Bahrain Tel: +973 17 750777 Fax: +973 17 750756 http://theroyalgolfclub.com 3. GOLDEN TULIP P.O. Box 1090, Manama Kingdom of Bahrain Tel: +973 17 535 000 Fax:+973 17 523 020 Email: info@goldentulipbahrain.com http://www.goldentulipbahrain.com 4. GULF HOTEL BAHRAIN P.O. Box 580, Manama, Kingdom of Bahrain Tel: +973 1771 3000 Fax: +973 1771 3040 http://gulfhotelbahrain.com 5. INTERCONTINENTAL REGENCY King Faisal Highway P.O. Box 777 Manama 0000 BAHRAIN Tel:+973-17-227777 www.intercontinental.com 6. KEMPINSKI GRAND & IXIR HOTEL BAHRAIN CITY CENTRE Kempinski Grand & Ixir Hotel Bahrain City Centre Al Seef District, Manama P.O. Box 18394, Manama, Bahrain Tel +973 1717 1000 Fax +973 1717 1555 Email: reservation.bahrain@ kempinski.com www.kempinski.com.bh

7. MARRIOTT Building 864, Road 2414, Block 324, Al Fateh Manama, Kingdom of Bahrain Tel: +973 17 363999 Fax:+ 973 17 36388 http://www.marriott.com 8. NATIONAL (ALLIED CAR RENTAL) PO Box 33214 Kingdom of Bahrain Tel: +973 17231156 Fax: +973 17243174 http://www.national-bahrain.com 9. NATIONAL HOTELS CO. Diplomat Hotel Building Street 1701 Diplomatic Area 5243 Kingdom of Bahrain Tel: +973 17-53083 Fax: +973 17-530991 Email: nhcbah@batelco.com.bh http://www.nhcbahrain.com 10. RADISSON BLUE P.O. Box 5243 Manama, Kingdom of Bahrain Tel: +973 17 531666 Fax: +973 17 530843 Email: info.diplomat@ radissonblu.com www.diplomatdadissonblue.com.bh 11. RITZ CARLTON HOTEL MANAMA Ritz Carlton PO Box 55577 Manama Phone: +973 1758 0000 Fax: +973 1758 0333 www.ritzcarlton.com.bh 12. SHERATON MANAMA Sheraton Bahrain Hotel 6 Palace Avenue, P.O. Box 30 Manama, Bahrain Phone: +97317 533533 Fax: +97317 534069 www.sheraton.com.bh 13. SEEF MALL Shaikh Khalifa bin Salman Highway Seef District Manama, Kingdom of Bahrain, Tel: 17582888 Fax: 17581888 Email: Fatima@seefproperties.com http://www.seef.net

14. CITY CENTRE MALL Biulding 2758, Road 4650, Block 346, Sh. Khalifa Highway, Manama Kingdom of Bahrain Tel: +973 17 17 77 77 http://www.bahraincitycentre.com

HEALTH 1. GENERAL ORGANISATION FOR YOUTH AND SPORTS - BAHRAINI OLYMPICS COMMITTEE P.O.Box 26406 Manama, Kingdom of Bahrain Tel: +973 1717 6666 Fax: +973 1717 6634 Email: info@boc.bh http://www.olympic.org/ 2. AL KINDI SPECIALISED HOSPITAL BAHRAIN Building 960 Road 3017, New Zinj 330.

P.O Box 75685, Manama, Kingdom of Bahrain.

Tel : +973 17 240 444 Fax: +973 17 240 043 Email: info@alkindihospital.com www.alkindihospital.com 3. ALJISHI CORPORATION P.O. Box 617 Manama.

Kingdom of Bahrain Tel: +973 17 233544 Fax: +973 17 25560 http://www.aljishi.com

4. AMERICAN MISSION HOSPITAL PO Box No. 1 Manama, Bahrain.

T: +973 1725 3447 www.amh.org.bh 5. AWALI HOSPITAL Awali, Kingdom of Bahrain Telephone: (973) 1775-3300 www.hospitalsworldwide.com 6. BAHRAIN INTERNATIONAL HOSPITAL Building no 1140 Road 80 Jidhafs Town 426 Kingdom of Bahrain Tel: +973 1759 8222 Email: health@ihb.net http://www.ihb.net 8. BAHRAIN SPECIALIST HospitalTel: +973 1781 200 Fax: +973 1781 2012 Email: bshinfo@bsh.com.bh http://www.bsh.com.bh

9. ROYAL BAHRAIN HOSPITAL Road 29, Building 119, King Abdul Aziz Avenue, Block 329, Salmaniya Manama, Kingdom of Bahrain Tel: +973 1724 6800 Fax: +973 1723 3470 Email: mail@royalbahrainhospital.com http://www.royalbahrainhospital.com 9. SALMANIYA MEDICAL COMPLEX Salmaniya Medical Complex Building Al Salmaniya Area 12 Bahrain Tel: +973 17-28888 Fax: +973 17-275612 http://www.moh.gov.bh

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312 路 W Guides: Find me in Saudi

Qatar, the future host country for the World Cup 2022, is undergoing a massive development that will see the birth of entire new cities, a multimodal transportation system and dozens of new hotels and entertainment spaces opening.

But one element has remained intact since its opening right after the Asian Cup in 2006 and has become one of the capital Doha´s landmarks: the towers of Ezdan Hotel & Suites, located in the West Bay area, close to downtown and the Doha Exhibition Centre. Ezdan Hotel & Suites is a subsidiary company of Ezdan Real Estate Company, one of the biggest companies by market capitalization in Qatar, owned and chaired by Sheikh Thani bin Abdulla Al-Thani. It is one of the largest complexes in the Middle East and the only hospitality facility in Doha large enough to meet the residential needs of major conventions as well as business and sports events.

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Ezdan Hotel and Suites, which was opened on March 1st, 2007, consists of four towers offering spectacular city and sea views. Three towers contain serviced apartments, 1,500 studios, one-, two- and three-bedroom flats.

The fourth tower combines a four-star hotel offering 200 rooms and suites with 344 more serviced apartments, bringing the complex’s maximum capacity, short and long term lease combined, to 4,311 rooms. Satellite and internet connectivity is offered in all units and residents have access to swimming pools, health clubs, spas, salons, supermarkets, food courts and restaurants. The complex further contains a conference centre with six banquet halls.

Ezdan Hotel & Suitesâ&#x20AC;&#x2122; distinctive character lies in its huge dimensions and its ability to accommodate large groups. It has become a favoured destination of sports associations and local and regional sports teams who appreciate its wide range of facilities and its capacity to provide quality service to thousands of residents simultaneously.

Ezdan is more than a hotel. Hundreds of expats call the complex home, with large transnational companies electing to house their employees in this unique environment with all facilities at hand. Tourists also appreciate the convenience of staying at Ezdan as its location in the heart of the city and its excellent price-quality ratio make it the obvious choice. 60% of Ezdan occupancy is made by long-term corporate clients, people who actually live and work here in Doha. For short-term stays, one of our towers contains a four-star hotel and serviced apartments.

The Ezdan Real Estate Company has recently unveiled a new project in West Bay, Doha, which is to include four residential towers with medium to large-sized apartments in addition to commercial and entertainment facilities. Hotel apartments are also planned.

Ezdan Hotel & Suites is located in the West Bay area at the heart of the downtown and close to the Doha Exhibition Centre.

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EZDAN Hotel and Suites is the place to stay when doing business in Qatar. Three Towers are serviced apartments comprised of 1,500 units - studios, one, two or threebedrooms; while the Fourth Tower is a combination of a four-star hotel and serviced apartments having 200 rooms/suites and 344 apartments respectively. Rooms are equipped with satellite and Internet connectivity.

Ezdan Hotel & Suites is ideally located in the West Bay area of Doha, in the heart of the new business district, 5 minutes walking distance to the Corniche, 10 minutes to the biggest shopping mall in the city and 15 minutes by car from Doha Airport.

It offers long and short-term leases. The complex is elegantly designed with spectacular city and sea views. Its maximum capacity is 4,311 rooms in total.

F&B Concepts Cherry Berry Coffee Shop (Lobby of tower 4) Coffee Shop, Bakery and All Day Dining with Lunch and Dinner menus (open 24 hours). Serving freshly brewed coffee, delicious home made French and oriental pastries, cakes and sandwiches, Room Service deliveries.

Pool Grill (4th Floor) Located steps away from the Swimming Pool on the 4th Floor. Snacks, light meals and drinks.

Ungaare (4th Floor) Specializes in Seafood and World Cuisine

Al Rafale Restaurant (4th Floor) Traditionally cooked Arabic and Lebanese Food.

Colombiano Coffee House (4th Floor) Pastries, cakes and drinks.

Coffee Counter in Towers 1 and 2

Banqueting The Convention Centre is located on the Ground Floor of the Third Tower next to the Lobby area with easy access from different directions. The Convention Center at Ezdan Hotel & Suites was purposely designed for large and small congress. The banquet / conference rooms offer a flexible configuration, with a multipurpose room featuring wireless communications connectivity.

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The complex comprises of a Swimming Pool, Health Club, Supermarket, Spa, Male and Female Salons and several types of restaurants in the Food Court around the Pool.

Recently Ezdan Hotel & Suites has also opened the Conference Centre with six Banquet Halls.

Ezdan is like a city itself. Visitors will be able to enjoy a meal in one of the different restaurants, go for a drink, do their shopping and work out at the Health Club. People will be able to enjoy the best services without leaving the complex.

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iCredits Managing Director and Editor in Chief Nayra Delgado Executive Director and Sales Manager Yevgeniya Vygulyar Marketing Director Hind Fakir Project Trainee Ayman Hilal Senior Journalist Marc Adams Journalists Bonnie Bagger John Landon Stephanie Andrews Photographer Rogier Van Zeventer A Dutch national but Bahraini resident for four years, thus offering both a local and an international perspective to the audience. Contact vanzeventerimages@gmail.com for more information.

Corporate graphic material of Nass, Banagas, BBK and others Proofreader Andrew Hights Marketing and Sales Amal Sharif Javier Gonzalez Peter Willow Design Juan Antonio Ă lvarez vs onetree Distribution Omar Stevens, DHL and Oriental Press Print Press Oriental Press Special Thanks We would like to thank all people of Bahrain for their kindness, friendliness and hospitality.

Specially we would like to thank all the people that contributed directly to the production of @ findmeinbahrain remarkably Nass Corporation, Banagas, Ministry of Culture and Tourism, Electricity and Water Authority (EWA), Information Affairs Authority (IAA), Golden Tulip Hotel, Serene Landmark, DHL and BBK. Copyright Global Gulf Consulting Š2013

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