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Get to Know About Bahrain
Bahrain is an Arabic nation located on a bay on the southwestern coastline of the Persian Gulf. The name Bahrain is derived from the Arabic term al-bahrayn, meaning “two seas.” The State consists of small archipelagos concentrated around Bahrain Island, located between the Qatar peninsula and the northeastern coast of Saudi Arabia. The capital city, Manama, is the prime port situated on the northeastern tip of Bahrain.
The official language is Arabic. Additionally, English, Farsi, and Urdu are widely spoken. Bahrain population is estimated to be around 1.64 million.
The main driver of the economy in Bahrain is oil and natural gas, which comprise 85 percent of budget revenues. Compared to its GCC neighbors, Bahrain still struggles with covering the sizable budget deficits due to lower world energy prices. On the other hand, doing business in Bahrain is facing persistent challenges due to the financial troubles as they try to boost regional competitiveness. However, after the implementation of a Free Trade Agreement (FTA) with the United States, this has diversified its trading activities. Institution reforms and liberal economic policies in the recent past continue to attract more foreign direct investment. The prospects of the Bahrain economy are dependent on the ongoing address of the fiscal deficit and increasing the non-oil revenues. Doing business in Bahrain remains positive despite the challenges witness currently as long as significant reforms are achievable.