Investment havens in the GCC

The Middle East is all set to become a centre-stage in the global arena as the regional industry prospers. Infrastructure projects, rising populations and state of the art technology are muscling their way to ensure that the region bags a huge chunk of the total investment portfolio.
 The GCC has grown in all factors; its real GDP has expanded by an annual average of 5.2% and cumulatively by 65%, whilst the population has grown from over 28 million in 1998 to approximately 39 million in 2008.
 According to a recent study sponsored by the Qatar Financial Centre Authority, "The GCC in 2020: Outlook for the Gulf and the Global Economy", the GCC will grow in importance as an economic and trading hub. In 2020, the GCC is projected to be a $2 trillion economy, providing nearly one-quarter of the world's oil supplies as well as increasing quantities of petrochemicals, metals and plastics.
 Further, there will be greater focus on manufacturing as production of hydrocarbons in the region could rise substantially by 2020. The GCC states will aim to turn more of their oil into refined products or petrochemicals, and use their oil and gas resources as feedstock for industries that will add more value and provide more jobs. Optimistically, the region has what it takes to become a plastics powerhouse as over the next few years, the Gulf market's share of the global petrochemical industry will jump to over 17%, said the study "Plastics: Middle East Market Intelligence Report."

Bahrain's industrial park goes global
Committing to sustain the immense growth potential and investment prospects the region holds, the governments in the Middle East are keen on investing on industrial parks. Such is the Bahrain International Investment Park which offers a tax-free haven to businesses and investors with duty-free access to regional GCC markets. Developed by the Ministry of Industry and Commerce, the Bahrain International Investment Park (BIIP) has access to the international airport and the new Shaikh Khalifa Sea Port, as well as direct motorway access to Saudi Arabia.
Itrecently opened doors to the new Zayani Polymer Factory, set to produce 5, 000 metric tonnes per year of polypropylene woven sacks and polyethylene greenhouse sheets, widely used for agricultural production as they alleviate solar impact and protect the plants from harsh weather conditions. Of the 1.5 million square metre of available industrial land, over 75% has already been allocated. There are now 71 projects approved for the BIIP of which 33 are operational and 19 are under construction. The total investment in these projects reaches BD 489.3 million. Currently, these operational projects are employing more than 2,000 people and this figure is expected to reach 12,000 jobs at completion.
"The Ministry established the Bahrain International Investment Park (BIIP) with the objectives of creating a landmark Business Park in Bahrain, providing low-cost quality location for new value-added Manufacturing and International Services projects, enabling Bahrain to compete with other Middle East locations for new mobile global investment and creating quality employment opportunities for Bahrainis," said Bader Al Saad, Park Chief.
  Since 2006, the facility has succeeded in attracting a range of new local and foreign dirAdidas