Bahrain Attracts Investment In Health and Medicine
Bahrain already boasts a modern, technologically advanced and comprehensive healthcare system and the US Bahrain Free Trade Agreement will open further opportunities for the health and medical services industry. The Bahraini government is committed to attracting foreign investment in this expanding sector.
His Highness, Prime Minister Shaikh Khalifa bin Salman Al Khalifa, recently weighed-in that the government encourages the expansion of the private medical sector through the opening of new hospitals and clinics. He also confirmed that the government was determined to develop the health sector and upgrade services offered, urging all ministry staff to maintain the superb quality of their services.
The effort to expand foreign investment comes in response to changing demographics in Bahrain. In government projections, the proportion of the population 65 years or older will increase from 2.2% today to more than 6.5% by 2020. The Bahrain government recognizes that action must be taken now to address the increased demand on health resources. The Ministry is seeking alternative health care financing to be achieved by inviting the private sector to increase its investment in health services and development. Both channels are open to direct investment, possible joint ventures, and the importation of US products and services to Bahrain.
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Dr. Naser M. Y. Al BelooshiEconomic Representative of the Kingdom of Bahrain
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OERB Sets Course for Business Development in 2005
The Office of the Economic Representative is focusing its attention in 2005 on broadening and strengthening economic ties between the U.S. and Bahrain. There are a number of business development trips meant to foster bilateral trade in six vital sectors of the Bahraini economy: Information and Communications Technology, Tourism, Healthcare Services, Education and Training Services, Business Services and Downstream Industries
During the trips, the Economic Representative will introduce U.S. companies to Bahraini counterparts, and vice versa, in an effort to establish advantageous partnerships. Upcoming missions in the first half of 2005 include:
- Virginia-based Tech/Telecom trade mission to Bahrain in February
- Trips to Chicago and Texas to meet with educational, healthcare and IT companies
- A proposed economic development conference in Chicago slated for April
- A presentation before the New York Chamber of Commerce in May
The Office of the Economic Representative is seeking to build on the momentum of 2004 - a year that saw the signing of a full-fledged Free Trade Agreement between the United States and Bahrain, a first in the Gulf region.
These days, Bahrain is enjoying renewed focus as a regional trade hub owing to its liberal business environment and welcoming culture. A longstanding center of international finance, Bahrain is emerging as a leader in all major market sectors. Today, the downtown business center of Manama is home to a number of leading international financial and commercial institutions, including Salomon Smith Barney, HSBC, Coca-Cola, IBM, UPS, Ericsson, Citicorp, American Express, Nomura Investment Banking, Arab Banking Corporation, Gulf International Bank, DHL and Investcorp.
New Bahraini Cabinet Committed To Market Liberalization
The Government of Bahrain announced recently sweeping changes in its Cabinet. With the move, Bahrain appears decidedly on the path to market liberalization, free trade and economic diversification. Bahrain is committed to its existing global and regional bilateral trade agreements, which benefit the economies of Bahrain and its trading partners in the Gulf region and elsewhere.
"The changes have stepped-up Bahrain's efforts to stimulate the economy and attract additional foreign investment," said Prime Minister Shaikh Khalifa bin Salman Al Khalifa yesterday. "Economic development remains our national priority," he added, welcoming new Cabinet members to the day's council session. He wished outgoing members every success.
"The government has made a top priority of jobs creation and an improved standard of living for all Bahrainis. These two objectives are only possible through an easing of bureaucratic regulations and hard work," the Prime Minister commented further.
Among the new Cabinet is Dr. Fatma Al Belooshi, a former University of Bahrain professor, who received the social affairs portfolio. She becomes only the second female Cabinet member in Bahrain's history, following Nada Haffadh, who was appointed Health Minister in April 2004.