Thursday, 11 February 2016

Why Should I Take My Business to Bahrain?



Did you know that Katch Kan Holdings Ltd. celebrated a year of its presence in the GCC Market, as it had inaugurated its Bahrain Regional Office branch in February 2015? This is according to the press release initiated by the Canadian international oil and gas company on January 21, 2015. Located in the diplomatic area of Manama, this company is one of the many to have established a foothold in Bahrain and through it, in the entire Gulf region. The Export Development Canada (EDC) has assisted as many as 32 Canadian companies to establish themselves in Bahrain, having generated a business volume of 4.05 million Canadian Dollars. Through its financing and risk management services in industries such as infrastructure, knowledge, telecommunications, oil and gas and transport, it has proven instrumental in forging a strong trade relation between Canada and the Kingdom of Bahrain.

Why Bahrain Bodes Success

 

Controls Two Important Industries: Did you know that the Gulf controls 40 per cent of the world's oil as well as 40 per cent of global financial reserves? This gives the GCC market a large amount of control over world trade in the two most lucrative segments. Having a presence in Bahrain, the heart of the Gulf, is therefore like having a foot-in-the-door to the world's wealth. Harnessing the opportunity could yield high returns for other economies as well as individual businesses.

Booming Economy: The GCC market yields a nominal GDP of 1.7 trillion USD and is expected to realize the 2 trillion mark by 2020. Given that economic development across the world has been sluggish, it is important to note that the Gulf has been realizing IMF forecasts by achieving a steady growth of above 2 per cent in the past years. The young and skilled population of the region is also cited as a cause of medium term growth, thereby predicting an increase in consumption in the coming years.

Ease of Conducting Business: The reason why you should position your business in the Gulf by locating yourself in Bahrain is because it is one of the most business friendly countries, not only in the region but in the world. The Index of Economic Freedom generated by The Heritage Foundation and The Wall Street Journal ranked Bahrain as the 18th freest economy in the world in the year 2016. Moreover, the lack of corporate income tax along with free repatriation of profits makes it an extremely lucrative place for conducting business.