Skyscrapers in Bahrain capital Manama stands testament to its efforts to follow a more diverse economy. There have been investments issues in the past leaving Bahrain’s public finances in a challenging situation.
The government’s plan in the pipeline include developing industries such as metal, tourism and global business, reported Arabian Business. Zayed Al Zayani, the minister of industry, commerce and tourism, said in an interview, growth and stability ‘comes through economic prosperity.’
The completion of a new airport terminal should happen within a year’s time and there are talks to build a second causeway to Saudi Arabia, according to Kamel Ahmed, minister of transportation and telecommunications.
Global tourism is growing strong by creating new jobs and heavily contributing to economic growth. This development could uplift Bahrain’s growth plan to lure global business and tourists from around the world. Additionally, its less restricted rules on alcohol and entertainment attracts more visitors from Saudi Arabia over the weekends.
State-controlled Aluminium Bahrain is said to rise its produce by 50% to 1.5mn tons in Q1 2019. Al Zayani said: “That’s an incentive for the private sector to invest.”