Literature Review
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Institution
Literature Review
Business Environment in The Kingdom of Bahrain
Kingdom of Bahrain代写 According to the international indices, since the independence, the Kingdom of Bahrain has been faced with economic challenges.
Economic challenges
According to the international indices, since the independence, the Kingdom of Bahrain has been faced with economic challenges which have resulted in lowering performance (Ali, 2011, Rumaihi, 2018). The political crisis contributed to the economic downturn with people calling for the change in the form of government through democratic reforms. In solving this problem, laws were set to be implemented which will see the paradigm change in the economic operations and performance (Bridge, 2018). The government enacted four laws which included Protection Law, Bankruptcy Law, Competition Law, and Health Insurance Law. Kingdom of Bahrain代写**格式
The Protection Law seeks to nationwide data in support of the Kingdom’s digital economy. Therefore, the law promotes the efficient and secure transfer of data in businesses. The Competition Law aimed at facilitating competition and innovation in the marketplace. The law restricts the formation of monopolies or any anti-competitive practices. The Bankruptcy Law, on the other hand, encourage the reorganization of the of the business to continue with operations. Lastly, health Insurance Law seeks to promote the integration of the health system for Bahrain which also attracts investment in healthcare and insurance. Kingdom of Bahrain代写**格式
The move aimed at enhancing the attractiveness of Bahrain as an investment hub by the opening of new opportunities (Bridge, 2018). The move aimed at raising more than $1.5 trillion from the GCC economy. In the first nine months of enactment of these laws, Bahrain was able to attract more than $810 million of investment.
Government of Bahrain Kingdom of Bahrain代写
The government of Bahrain used a liberal approach to the bid to attract foreign direct investments and businesses (“Export.gov,” 2016, Pahuja, 2014, (Weetas Insight,” 2018). Recently, increasing foreign direct investment has been the primary focus of the government. In so doing, the government allows 100 percent ownership of the foreign investments without the need for local partners. This was an exceptional case in the gulf as no other state will enable this model of foreign investment and business. The GOB also exempts the corporation from taxation of their income. These and other incentives have increased the number of a direct investor in the Kingdom of Bahrain in the last few years.
Economic climate Kingdom of Bahrain代写
According to the report by the Bureau of Economic and Business Affairs (2018), the economic climate in Bahrain had improved and was stable over the last few years. Therefore, the country has entered into bilateral investment treaties which seek to create good investment relationships which are mutual and good for doing business. The agreements protect foreign investors through good treatments such as free financial transfers, adherence to international standards of expropriation and compensation cases, and access to international arbitration. Kingdom of Bahrain代写**格式
For instance, the U.S trade agreement with Bahrain saw the protection of the U.S investors and application of rules that are up to and applicable internationally which has gone a long to strengthening the trade between the two nations.
GDP Kingdom of Bahrain代写
The economy of Bahrain was tremendously growing although the real GDP has gone down to 1.7 percent in 2018 and is predicted to rise to 2.1 percent by the end of 2019. According to The World Bank (2018), the lag in the economy is contributed by the low oil prices which weigh on domestic demand and market uncertainties. However, this trend was likely to be reversed owing to the multilateral and private partnerships. Additionally, the situation is expected to get better after termination of OPEC+ deal at the end of 2018 and when the new pipeline connection between Bahrain and Saudi Arabia is completed.
Similarly, The Heritage Foundation (2018) and Nordea Trade Portal. Kingdom of Bahrain代写
(2018), states that Bahrain is rated 50th as one of the free economies in the 2018 index. Although the overall score is declining attributed to the decrease in fiscal health, government integrity and spending it is ranked top five in the Middle East and North Africa region. The indicators show the economic health which will continue to sustain the economy of Bahrain to its prospects of it being the investment hub.
References Kingdom of Bahrain代写
Ali, J. (2011). Political challenges affect Bahrain rank. Retrieved from https://gulfnews.com/business/analysis/political-challenges-affect-bahrain-rank-1.952617
Bureau of Economic and Business Affairs. (2018). 2018 Investment Climate Statements. Zinj: U.S. Embassy Manama.
Bridge, S. (2018). Bahrain’s king issues new laws to boost investment eco-system. Retrieved from https://www.arabianbusiness.com/politics-economics/405608-bahrains-king-issues-new-laws-to-enhance-investment-eco-system
Export.gov. (2016). Bahrain – Openness to and Restriction on Foreign Investment. Retrieved from https://www.export.gov/article?id=Bahrain-openness-to-foreign-investment
Nordea Trade Portal. (2018). The economic context of Bahrain – Economic and Political Overview. Retrieved from https://www.nordeatrade.com/en/explore-new-market/bahrain/economical-context?&accepter_cookies=oui
Pahuja, R. (2014). Foreign Investment in Bahrain – Al Tamimi & Company. Retrieved from https://www.tamimi.com/law-update-articles/foreign-investment-in-bahrain/
Rhumaihi, K. (2018). Bahrain introduces four new laws to boost investment. Retrieved from http://saudigazette.com.sa/article/544777
The Heritage Foundation. (2018). 2018 index of economic freedom. Retrieved from https://www.heritage.org/index/country/bahrain
The World Bank. (2018). Bahrain’s Economic Outlook. Retrieved from https://www.worldbank.org/en/country/gcc/publication/economic-outlook-april-2018-bahrain
Weetas Insight. (2018). Starting a business in Bahrain, here is all you need to know about commercial registration procedures. Retrieved from https://bahrain.weetas.com/insights/en/starting-business-bahrain-need-know-commercial-registration-procedures.html
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