Best Flourishing Business of Bahrain
The booming construction industry
- The best flourishing business of Bahrain as at now is the construction industry. Although this industry previously experienced challenges that hindered the growth of the real estate due to global financial meltdown, its growth has since improved.
- This growth has been facilitated by the government’s efforts to ensure that the citizens of Bahrain have access to affordable housing. In a bid to provide cheap housing, the private sector is expected to initiate construction of residential buildings and handing them over to the government for redistribution.
- Due to housing shortage, the construction industry is expected to realize good returns going by the high demand where more than 54,000 people seeking for government accommodation. The Bahrain’s housing department also records approximately 8000 applications seeking for state housing per year thus this portrays the potential this industry has
- Moreover, the Bahrain government is focused on increasing social amenities such as health and education facilities and therefore signs of growth for the construction industry are high.
Reasons to invest in Bahrain
- Easy accessibility to Arab countries
-Bahrain is in a prime location being at the center of the gulf. This strategic location enhances investor’s easier accessibility to other markets in the Middle East. For example, it will take you approximately one hour to reach Saudi Arabia by car and four hours to get to Riyadh. If you opt to take a plane, it will take you one hour to reach Dubai and quarter of an hour to reach Qatar.
-The mode of transport between Bahrain and Middle East countries is open to rail, sea and by air. Bahrain is the headquarters of the Gulf air, the largest means of air transport in the Gulf making it reliable means of transport. Furthermore, a modern port, which opened in 2009, increases accessibility to other countries in the gulf region.
- Modernized economy
-Bahrain enjoys a modernized economy that was established over four decades ago especially in its financial sector. It is also ranks among the best financial market internationally.
- Low Operational costs
-Bahrain boasts low operational costs such as rent and utility expenses when compared to other Gulf States.
A Moreover, the government provides subsidies and has privatized major utility providers hence energy and water costs are low due to competition.
-Due to low costs of living, labour costs are also competitive.
- Skilled work force
-Bahrain’s workforce is the best in the whole of gulf region regarding education and skills. As an investor, you will save costs of expatriate packages.
- Conducive business environment
– Bahrain offers a liberal environment for business operations where private companies are charged zero taxes.
-In addition, the country offers full ownership of real estate assets. The Bahrain government is steadfast in offering conducive business environment to achieve its vision 2030 goals of attracting foreign investment.
- Flexible visa policies
-Bahrain stands among the best country in the gulf region for provision of supportive visa policies.
-Bahrain visa offers several advantages including extension of visiting periods for investors, issuance of multiple visas without restrictions for any nationality, electronic processing of visa upon a visitors arrival and efficient processing of visas and visitor screening.