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Bahrain proceeding confidently on the road to the brightest future in 2013: report
11 : 12 AM - 02/01/2013
Manama: Jan. 2 – (BNA) On the occasion of the beginning of the year 2013, it would be rather insufficient to merely count the Kingdom of Bahrain's common everyday statistical figures in terms of development and growth in various sectors over the past year (2012).

Despite shortage of fiscal resources and unfavorable repercussions of unrest sown by a handful of bust outlaws, the Kingdom of Bahrain has been ranked amongst advanced nations of the world. The wheel of productivity goes on unfettered, as Bahraini citizens and expatriate residents carry on business as usual.


The Kingdom's impeccable human rights record and bright image remain intact and undistorted by any futile false allegations propagated by hostile megaphones at international functions. The rate of economic growth reached 3.1% in the third quarter of last year (2012) and is likely to reach 4% this year with an increase of 0.7% thanks to non-oil-related economic activities of added value which recorded a realistic growth rate of 5.9%, according to the CBB and Finance Ministry reports.
International firms and investments continue to hail into the Kingdom's territory. Bahrain's three economic zones have been ranked amongst the top 20 global economic zones. Bahrain enjoys economic freedom, competitive edge and attractive tourism industry which reflects confidence shown in Bahrain by international financial and economic expertise and consultancy firms.


The Bahrain Chamber of Commerce and Industry (BCCI)'s chairman, Dr. Essam Fakhroo recently stated that the private sector in Bahrain was able during the past year (2012) to surmount the state of recession spurred by the unfortunate incidents of 2011 and ranked the ninth in the Arab world and west Asian countries in terms of attractiveness to overseas investments. Bahrain saw a remarkable improvement in the performance of investment portfolios in terms of the size of investment funds which reached 2.2% in the first quarter of last year (2012) compared with the same quarter of the previous year (2011). The Kingdom ranked amongst the top 7 Arab countries acquiring 82% of the total inter-Arab investments over the past fifteen years. Bahrain ranked ninth Arab-wise in terms of attracting overseas investments over the past five years.


The Kingdom of Bahrain's business environment has always been active as manifested by the registration of more than 1053 companies in 2012 alone. The total volume of capital investments reached circa BD 80 million. Undoubtedly, all of these accomplishments will definitely reflect positively in terms of widening the scope of investments over the next five years that are anticipated to reach USD 45 billion in the next five years 2013-2017) thanks to the promising and assuring investment atmospheres in the Kingdom's industrial, higher education, training institutes, health, finance, transportation, logistics, IT and telecommunications, family tourism, aluminum, projects management, consultancy, international conferences and exhibitions, according to the chairman of BCCI, Dr. Essam Fakhroo.


The Kingdom of Bahrain also ranked the 1st in the Arabian Gulf region and 51st amongst 127 countries in terms of providing education for everybody according to the UNESCO Educational Development Index and other reports.

More than 21,000 jobseekers have been employed in 2012 alone. Around 6,000 jobless received Unemployment Compensation. The jobless rate fell from 4.7% in June to 3.5% in September, according to the CSB. Housing projects were launched in 41 residential neighborhoods thus curtailing applicants' waiting lists.

The Kingdom of Bahrain succeeded in pre-empting the dire consequences of the global fiscal crunch which affected the region, including political unrest and successive transformations which hit the Arab world and which some people tried to bring into Bahrain has it not been for the alertness of the wise leadership and the awareness of the general public.

The Kingdom of Bahrain is confidently and surely heading towards the brightest future in 2013.

(IY)

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