Moving Bahrain forward by implementing $32 billion on projects

The kingdom of Bahrain is strengthening its position as a hub for international businesses in the Middle East by investing in interconnected transport infrastructure.

In February 2019, the courier giant FedEx Express signed up as the anchor tenant for a $58.5-million, 25,000-square-meter new cargo area at Bahrain International Airport (BIA). “This demonstrates the kingdom’s strong international reputation as a regional hub for businesses in the Middle East. ......


The Bahrain Airport Modernization Program

The $1.1 billion project will be inaugurated in 2019, increasing airport capacity to 14 million passengers a year.

The launch of Bahrain International Airport’s (BIA) brand-new 210,000-square-meter passenger terminal building in 2019 will reinforce the kingdom’s central position in Middle Eastern air transportation. Four times larger than the current facility, it will be capable of processing 130,000 air traffic movements a year and will have a handling capacity of 4,700 bags an hour. It will increase BIA’s capacity to 14 million passengers a year and is built to the highest technological standards, ensuring a safe, secure and seamless airport experience.....






A new chapter in history

With a major new oil discovery and ongoing investments in multibillion-dollar projects that are now coming on stream, hydrocarbons are set to transform the Bahraini economy.

In April 2018, Bahrain’s Minister of Oil Shaikh Mohamed bin Khalifa Al Khalifa announced the kingdom’s biggest hydrocarbon discovery in decades — an estimated 80 billion barrels of oil, and between 10 and 20 trillion cubic feet of natural gas had been found off the country’s west coast. “We have good reason to believe the find is commercial,” he said: “Wells are being drilled now, will be flowing soon and our plan is to provide a full understanding of what we have toward the end of 2019. In the meantime, we are looking at a conces- sion structure for international companies, which are welcome to either invest or partner with some of our companies to develop this large resource.”.....






Sitting at ACI Asia-Pacific

The CEO of Bahrain Airport Company, Mohamed Yousif Al Binfalah, has been elected as one of three new regional board directors for the Airports Council International.

In 2019, the CEO of Bahrain Airport Company (BAC), Mohamed Yousif Al Binfalah was elected as a director of the Asia-Pacific Regional Board of the Airports Council International (ACI), a global body which represents the world’s airports and works closely with prominent aviation organizations to develop standards, policies and recommended practices......






Empowering local talent

The Tahleeq and Ajwaa training and development programs are placing citizens at the heart of Bahrain’s development.

The Bahrain Airport Company (BAC) is com- mitted to building the skills of Bahraini citizens and helping them to reach their full potential. Currently, an impressive 80 percent of BAC’s employees are drawn from the local population and the goal is to increase that to 90 percent by 2021. But operating its new, state-of-the-art passenger terminal building will require expertise in specialized aviation fields. “Since 2010, we have invested heavily in developing our human talent it is one of our big success stories,” said BAC Chief Executive Officer Mohamed Yousif Al Binfalah. At the center of this success is the Tahleeq program, a milestone training and development initiative aimed at shaping the future leaders of Bahrain’s aviation industry.....






Boosting production to 380,000 bpd

A $5-billion expansion of the kingdom’s oil refinery should double its earning potential.

The Bahrain Airport Company (BAC) is com- mitted to building the skills of Bahraini citizens and helping them to reach their full potential. Currently, an impressive 80 percent of BAC’s employees are drawn from the local population and the goal is to increase that to 90 percent by 2021. But operating its new, state-of-the-art passenger terminal building will require expertise in specialized aviation fields. “Since 2010, we have invested heavily in developing our human talent it is one of our big success stories,” said BAC Chief Executive Officer Mohamed Yousif Al Binfalah. At the center of this success is the Tahleeq program, a milestone training and development initiative aimed at shaping the future leaders of Bahrain’s aviation industry.....






The technology factor

Bahrain is looking to attract technology companies and invites Japanese partners to help it boost recovery rates.

Although oil was first discovered in Bahrain in 1932, 85 percent of its identified reserves still remain in the ground due to the kingdom’s challenging geology. Only one thing is pre- venting higher extraction levels, according to James Eastlack, CEO of Tatweer Petroleum, the company in charge of the country’s hydrocarbon exploration and production activities: “It’s not a matter of money — it’s always possible to get money. Technology really is the whole answer to our problems.”.....






Looking downstream for added value

Investments in gas, fertilizers and petrochemicals are securing future economic advances.

Bahrain is making many investments in its down- stream hydrocarbon sectors to add value to its resources and advance its economy. A notable factor in these investments is the kingdom’s openness to joint ventures and building long-term relationships with international partners. One of its larg- est recent investments went on stream in 2018: a major expansion of the gas processing capability of Bahrain National Gas Company (Banagas). Set up in 1979, 75 percent of Banagas is owned by Bahrain’s oil and gas holding company nogaholding, while Chevron Bahrain and Kuwait’s Boubyan Petrochemical Company each hold a 12.5-percent stake.....






Beyond oil

The Bahrain Economic Development Board is creating an environment to boost investment and talent in order to embrace the ‘Fourth Industrial Revolution’.

Although the outlook is bright for the Bahraini oil industry, the kingdom has no intention of straying off its very successful path of diversification and embracing the Fourth Industrial Revolution by combining Bahrain’s traditional strengths with emerging technologies. “So successful have we been that, over the last 15 years, non-oil sectors have grown from 60 to 80 percent of gross domestic product (GDP),” said Minister of Finance and National Economy Shaikh Salman bin Khalifa Al Khalifa.....






Pioneering in fintech

The agile regulation of the Central Bank of Bahrain and the extensive network of Bahrain FinTech Bay have attracted flagship innovators such as Amazon Web Services to the kingdom.

“Bahrain has developed an extensive fintech ecosystem to future-proof our financial services sector and further transition the country into an innovation-driven economy,” said Khalid Saad, CEO of Bahrain FinTech Bay (BFB), the leading hub for fintech in the Middle East and North Africa region and a key part of that ecosystem. Enabling Bahrain to become a global fintech center is a pioneering regulatory framework for the technologies established by the Central Bank of Bahrain (CBB), probably the region’s most respected and robust financial regulator......