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\b\i\fs28\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {Contents
\par }\pard\plain \qj \li0\ri0\sl403\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 \fs24\lang2057\langfe1033\cgrid\langnp2057\langfenp1033 {\b\i\fs22\lang1033\langfe1033\langnp1033 
\par }\pard\plain \s2\qj \li0\ri0\sl182\slmult0\keepn\nowidctlpar\faauto\outlinelevel1\rin0\lin0\itap0 \b\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 Preface
\par }\pard\plain \qj \li0\ri0\sl182\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 \fs24\lang2057\langfe1033\cgrid\langnp2057\langfenp1033 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard\plain \s2\qj \li0\ri0\sl240\slmult0\keepn\nowidctlpar\faauto\outlinelevel1\rin0\lin0\itap0 \b\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 Chapter 1
\par }\pard\plain \qj \li0\ri0\sl240\slmult0\nowidctlpar\tldot\tx5361\faauto\rin0\lin0\itap0 \fs24\lang2057\langfe1033\cgrid\langnp2057\langfenp1033 {\fs22\lang1033\langfe1033\langnp1033 General information on Bahrain\tab 3 
\par An overview\tab 3
\par Life-style/quality of life\tab 3
\par Physical characteristics\tab 4
\par Population and employment\tab 4
\par Government\tab 5
\par Transportation and communications\tab 5 
\par Tourism\tab 6
\par }\pard\plain \s2\qj \li0\ri0\sl240\slmult0\keepn\nowidctlpar\tldot\tx5361\faauto\outlinelevel1\rin0\lin0\itap0 \b\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 Chapter 2
\par }\pard\plain \qj \li0\ri0\sl235\slmult0\nowidctlpar\tldot\tx5361\faauto\rin0\lin0\itap0 \fs24\lang2057\langfe1033\cgrid\langnp2057\langfenp1033 {\fs22\lang1033\langfe1033\langnp1033 Business and economic background\tab 7 
\par The economy\tab 7
\par Government economic policy\tab 8
\par Economic performance\tab 9
\par Market location\tab 10
\par Economic sectors\tab 11
\par Financial services\tab 13
\par Capital market\tab 15
\par Other services\tab 16
\par }\pard\plain \s2\qj \li0\ri0\sl235\slmult0\keepn\nowidctlpar\tldot\tx5361\faauto\outlinelevel1\rin0\lin0\itap0 \b\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 Chapter 3
\par }\pard\plain \qj \li0\ri0\sl240\slmult0\nowidctlpar\tldot\tx5361\faauto\rin0\lin0\itap0 \fs24\lang2057\langfe1033\cgrid\langnp2057\langfenp1033 {\fs22\lang1033\langfe1033\langnp1033 Commercial entities and their regulation\tab 16 
\par Types of commercial entities\tab 16
\par Incorporation procedures\tab 18
\par Costs of incorporation\tab 19
\par Incentives and attractions\tab 19
\par }\pard\plain \s2\qj \li0\ri0\sl240\slmult0\keepn\nowidctlpar\tldot\tx5361\faauto\outlinelevel1\rin0\lin0\itap0 \b\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 Chapter 4
\par }\pard\plain \qj \li0\ri0\sl240\slmult0\nowidctlpar\tldot\tx5366\faauto\rin0\lin0\itap0 \fs24\lang2057\langfe1033\cgrid\langnp2057\langfenp1033 {\fs22\lang1033\langfe1033\langnp1033 Taxation and regulations in Bahrain.\tab 20 
\par Corporate and individual taxation\tab 20 
\par Relevant Statutes\tab 20
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\fs22\lang1033\langfe1033\langnp1033 Chapter 5
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\tldot\tx5356\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Other information on Bahrain\tab 21
\par Flight times to major cities from Bahrain\tab 21
\par Entry and visa requirements\tab 21
\par Commercial hours\tab 22
\par Official holidays\tab 22
\par Media\tab 22
\par }{\b\fs22\lang1033\langfe1033\langnp1033 Chapter 6}{\fs22\lang1033\langfe1033\langnp1033 
\par KPMG Bahrain\tab 23
\par An overview\tab 23
\par Services for international investors\tab 23 
\par Planning the investment\tab 23
\par Organising the operation\tab 24
\par Maintaining operations\tab 24
\par Contact information\tab 24
\par }\pard \qj \li0\ri0\sl196\slmult0\nowidctlpar\tldot\tx5220\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Service Worldwide\tab   25
\par }\pard \qj \li0\ri0\sl249\slmult0\nowidctlpar\tldot\tx5400\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Countries in which KPMG operate\tab 26
\par 
\par }\pard \qj \li0\ri0\sl249\slmult0\nowidctlpar\tldot\tx6624\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 \sect }\sectd \linex0\sectdefaultcl \pard\plain \s1\qj \li0\ri0\sl403\slmult0\keepn\nowidctlpar\faauto\outlinelevel0\rin0\lin0\itap0 
\b\i\fs28\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {Preface
\par }\pard\plain \qj \li0\ri0\sl403\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 \fs24\lang2057\langfe1033\cgrid\langnp2057\langfenp1033 {\b\i\fs22\lang1033\langfe1033\langnp1033 
\par }\pard\plain \s2\qj \li0\ri0\sl240\slmult0\keepn\nowidctlpar\tldot\tx5361\faauto\outlinelevel1\rin0\lin0\itap0 \b\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {To our clients and friends:
\par }\pard\plain \qj \li0\ri0\sl182\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 \fs24\lang2057\langfe1033\cgrid\langnp2057\langfenp1033 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Investment in Bahrain has been prepared by the partners of the Bahrain office of KPMG as a guide
 for new and existing business in Bahrain. This booklet is intended to provide a summary of Bahrain's fiscal, economic, legal and social framework and to highlight certain important factors which should be examined if Bahrain is considered as a potential 
investment location.
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
While the utmost care has been taken in compiling this document, its contents are not intended to be a substitute for independent professional advice or as a basis for formulating business decisions. This document is therefore intended
 for information purposes only.
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
Before finalising your investment plans, you should compare your business and personal needs with the opportunities Bahrain offers. If you wish, the partners of the Bahrain office can guide you through this important proces
s. We can also recommend other professionals who should be key advisers in your decision-making process and introduce you to the appropriate government officials.
\par 
\par As one of the largest public accounting and business-consulting firms in Bahrain, we have in
 depth knowledge about our country that should prove valuable to you in your decision-making. We are committed to providing you with the highest level of quality service that will meet, if not exceed, your expectations. Serving the needs of companies wish
ing to establish a presence in Bahrain is an important part of our practice. We have worked closely with many start-up companies and helped them to mature and succeed.
\par 
\par We hope that you will find this booklet useful. If you need further information or assistance, please call us on (973) 224807 or fax (973) 227443 e-mail: kpmgbh@batelco.com.bh. Your inquiry will be promptly addressed.
\par 
\par KPMG Bahrain March 2000
\par 
\par For use by clients and associates of KPMG _2000 KPMG
\par 
\par }\pard\plain \s1\qj \li0\ri0\sl403\slmult0\keepn\nowidctlpar\faauto\outlinelevel0\rin0\lin0\itap0 \b\i\fs28\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\page }{Chapter 1
\par }\pard\plain \s2\qj \li0\ri0\sl240\slmult0\keepn\nowidctlpar\tldot\tx5361\faauto\outlinelevel1\rin0\lin0\itap0 \b\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {General Information on Bahrain
\par }{\fs22 An overview
\par }\pard\plain \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 \fs24\lang2057\langfe1033\cgrid\langnp2057\langfenp1033 {\fs22\lang1033\langfe1033\langnp1033 
Bahrain, which loosely translated from Arabic means 'two seas', is an island state situated halfway down the western shore of the Arabian Gulf. An archipelago of 33 islands, the State of Bahrain is connected to the industrial Eastern Province of th
e Kingdom of Saudi Arabia by a 25km bridge the King Fahad Causeway. To the east, 50kms away, is Qatar; 400kms northwest is Kuwait and 400kms southeast, the United Arab Emirates.
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Bahrain, or Dilmun as it was known originally, has always been, because of it
s strategic position and its plentiful freshwater springs, an important trading centre. Its sea-faring people traded between the Indus Valley and Mesopotamia (modem-day Iraq) as far back as the third millennium B.C. One of the archaeological relics in the
 National Museum is a letter of credit carved in stone, which bears testimony to the importance of Bahrain as an ancient trading post.
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 The Bahrain of the twenty-first century complements the rich heritage of the past. The famous Bahraini natural pearl indu
stry was eclipsed by the Japanese artificial version at about the same time that oil was discovered in Bahrain. The first Bahrain oil well, still to be seen today, came on stream in 1932.
\par 
\par Although not a significant oil producer, Bahrain has become a major financial and trading centre, thanks to:
\par 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-346\li346\ri0\sl326\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls1\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls1\rin0\lin346\itap0 {
\fs22\lang1033\langfe1033\langnp1033 A stable, progressive and liberal government, supportive of private enterprise; A legacy of over a century of peace and prosperity;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl326\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls1\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls1\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Industrious, enterprising population who have long valued education; Established, fair legal system;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl326\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls1\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls1\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Excellent communications and telecommunications;
\par }\pard \ql \li0\ri0\sl326\slmult0\nowidctlpar{\*\pn \pnlvlcont\ilvl0\ls0\pnrnot0\pndec }\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl220\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls1\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls1\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Easy access to the Internet and web for information and communication purposes;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl331\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls1\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls1\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Plentiful supplies of natural gas; and
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl331\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls1\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls1\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Strategic geographical location accessing major population centers.
\par }\pard \qj \li0\ri0\sl244\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par All these factors combine to make Bahrain a natural centre for distribution and services in the Middle East.
\par 
\par }\pard \qj \li0\ri0\sl297\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Life-style/quality of life
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Life is pleasant in Bahrain. In comparison with major European and American cities the costs of hotel, labor, office
 rents, electricity and water are reasonably priced.
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
With virtually a crime-free environment, very low rates of inflation and its central location, Bahrain is also proving to be an attractive destination for tourists, both within the Middle East and for o
ther visitors. Some factors contributing to the high quality of life are:
\par 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl225\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls2\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls2\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Stable currency: The Bahraini dinar (= 1,000 fils) has been pegged to the United States dollar for more than a decade (US$1 = BD 0.377).
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sb148\sl225\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls2\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls2\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Low inflation: As measured by the Bureau of Statistics, 1998 = 0.4 percent (1997 = 1.7 percent).
\par }\pard \qj \li0\ri0\sl230\slmult0\nowidctlpar{\*\pn \pnlvlcont\ilvl0\ls0\pnrnot0\pndec }\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl230\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls2\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls2\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Rents: Three-bedroom suburban villa: BD 350-650 per month ($925-1,600); suburban apartments average BD 200 per month ($530) and two/three bedroom town apartments BD 300-400 per month ($800-1,070).
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sb148\sl230\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls2\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls2\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Healt
h and medical facilities: The World Health Organization rates Bahrain's health service in the top three in the world for readily accessible service to the population. State medical services are largely free and full primary, secondary and tertiary care is
 available within the private sector as well.
\par }\pard \qj \li0\ri0\sl230\slmult0\nowidctlpar{\*\pn \pnlvlcont\ilvl0\ls0\pnrnot0\pndec }\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl230\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls2\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls2\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Education and libraries: State education is free and there are good public library facilities. There is a wide range of private schools catering to the Arabic, British, American, Japanese, German, Indian, Pakis
tani and other communities. These include multinational nursery schools and playgroups.
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sb144\sl230\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls2\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls2\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Air fares: The major airlines charge regular lATA fares between Bahrain and Europe (for example economy Bahrain-London-Bahrain = BD 358/US$ 947). However, by shopping a
round, considerably lower fares can be found and promotional packages are common.
\par }\pard \qj \li0\ri0\sl230\slmult0\nowidctlpar{\*\pn \pnlvlcont\ilvl0\ls0\pnrnot0\pndec }\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl230\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls2\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls2\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Sports, clubs and societies: Apart from water - sports, other active sports are football, tennis, cricket, road-running, hashing, volleyball, rugby, horse riding, golf, cycl
ing, squash, basketball, netball, softball, hockey, motor rallying, ice skating etc. There are numerous social clubs providing both sports facilities and entertainment. Other clubs cater to groups with special interests and organize exhibitions of paintin
gs and works of art, musical and theatrical presentations, cultural dance festivals and educational seminars. There are service clubs such as Rotary and Lions.
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sb153\sl230\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls2\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls2\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Dining out: Bahrain has some of the best restaurants in the Gulf states, with attractively priced
 cuisine to suit all tastes; offering local Arabic food as well as American, British, Indian, French, Chinese, Mexican, Japanese, Thai, Turkish and Greek cuisine.
\par }\pard \qj \li0\ri0\sl216\slmult0\nowidctlpar{\*\pn \pnlvlcont\ilvl0\ls0\pnrnot0\pndec }\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl216\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls2\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls2\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Shopping: Ranging from world-class department stores and supermarkets to jewelers, tailors, electrical shops, cold stores and markets.
\par }\pard \qj \li0\ri0\sl216\slmult0\nowidctlpar{\*\pn \pnlvlcont\ilvl0\ls0\pnrnot0\pndec }\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl220\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls2\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls2\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Media and entertainment: Abundant English-language entertainment including all major satellite television channels.
\par }\pard \qj \li0\ri0\sl220\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl182\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl297\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Physical characteristics
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Bahrain, a group of 33 islands, with an area of 676 square kilometer
s, is situated in the Arabian Gulf, off the East Coast of Saudi Arabia. The local time is GMT + 3 hours.
\par 
\par The state takes its name from the largest island Bahrain, which is 586.5 square kilometers. It is linked by causeways to Muharraq (international airpo
rt) and Sitra (industrial area and tank farm). There are numerous other tiny islands, but they are _: mainly uninhabited and are best known for the variety of migrating birds which pass through in spring and autumn.
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 The climate is hot in summer and mild i
n winter. It is very pleasant from November to April, with temperatures from 15 to 24 degrees centigrade. Temperatures are coolest between December and March when northerly winds prevail. From July to September temperatures average 36 degrees centigrade w
ith high humidity.
\par 
\par }\pard \qj \li0\ri0\sl254\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 The annual average rainfall is approximately 77 millimetres.
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 The Arabian Gulf has an average depth of only 35 meters and most of it, which is in the vicinity of Bahrain, is much shallower than this.
\par 
\par }\pard \qj \li0\ri0\sl312\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Population and employment
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 The total
 population in 1998 is estimated to be 643,000, 61 % of whom are Bahrainis and the balance foreigners. A full census has recently been completed. Islam is the state religion and 85 percent are Muslims. There are also Christians, Jews, Hindus and Zoroastri
ans. There are also places of worship for different faiths. Arabic is the official language, although English is widely spoken and is an accepted commercial language.
\par 
\par Total population growth has been in the range of 3.4% during the past few years. Much of the growth has come from the steady increase in expatriate workers (mostly from Asia) who make up over 50% of the economically active population.
\par 
\par The government is taking steps to increase the Bahraini presence in the workforce through its "Bahranisation"
 programme. Government policy is, however, not with a goal to replace all foreign workers but to assure the full and effective utilization of the human resources of the state. An educated indigenous workforce, proficient in English, at half of the cost of
 industrialized countries, is available. Processing work permits for employing foreign workers is fairly straightforward.
\par 
\par }\trowd \trrh220\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1292 \cellx3528\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth916 \cellx4444\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx5347\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth811 \cellx6158\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {
\b\i\fs22\lang1033\langfe1033\langnp1033 Population\cell \cell \cell \cell \cell \cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh220\trbrdrt\brdrs\brdrw10 \trbrdrl
\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236
\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1292 \cellx3528\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth916 \cellx4444
\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx5347\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth811 \cellx6158
\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\row }\trowd \trrh225\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh
\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 
\clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1292 \cellx3528\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth916 \cellx4444\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb
\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx5347\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth811 \cellx6158\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone 
\clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {
\b\fs22\lang1033\langfe1033\langnp1033 1994\cell 1995\cell 1996\cell 1997\cell 1998a\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh225\trbrdrt\brdrs\brdrw10 \trbrdrl
\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236
\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1292 \cellx3528\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth916 
\cellx4444\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx5347\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth811 \cellx6158\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\row }\trowd \trrh249\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb
\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236\clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1292 \cellx3528\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth916 \cellx4444\clvertalc
\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx5347\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth811 \cellx6158
\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Total\cell }\pard 
\qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 562\cell 578\cell 599\cell 620\cell 643\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 
\trowd \trrh249\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1292 \cellx3528\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr
\brdrnone \cltxlrtb\clftsWidth3\clwWidth916 \cellx4444\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx5347\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone 
\clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth811 \cellx6158\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\row }\trowd \trrh230\trbrdrt\brdrs\brdrw10 \trbrdrl
\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236
\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1292 \cellx3528\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth916 
\cellx4444\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx5347\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth811 \cellx6158\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {
\fs22\lang1033\langfe1033\langnp1033 % Increase\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 4.0\cell 2.9\cell 3.6\cell 3.5\cell 3.6\cell }\pard 
\ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh230\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv
\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1292 \cellx3528\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth916 \cellx4444\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr
\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx5347\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth811 \cellx6158\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 
\clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\row }\trowd \trrh249\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1292 \cellx3528
\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth916 \cellx4444\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 
\cellx5347\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth811 \cellx6158\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Bahrainis\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 352\cell 
359\cell 369\cell 380\cell 394\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh249\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr
\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1292 \cellx3528\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth916 \cellx4444\clvertalc\clbrdrt\brdrs\brdrw10 
\clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx5347\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth811 \cellx6158\clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\row }\trowd \trrh230\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 
\trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1292 \cellx3528\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth916 \cellx4444\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr
\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx5347\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth811 \cellx6158\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 
\clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 % Of total\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {
\fs22\lang1033\langfe1033\langnp1033 62.7\cell 62.1\cell 61.6\cell 61.3\cell 61.3\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh230\trbrdrt\brdrs\brdrw10 \trbrdrl
\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236
\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1292 \cellx3528\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth916 
\cellx4444\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx5347\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth811 \cellx6158\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\row }\trowd \trrh264\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb
\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236\clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1292 \cellx3528\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth916 \cellx4444\clvertalc
\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx5347\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth811 \cellx6158
\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Expatriates\cell }\pard 
\qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 209\cell 219\cell 230\cell 240\cell 249\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 
\trowd \trrh264\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1292 \cellx3528\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr
\brdrnone \cltxlrtb\clftsWidth3\clwWidth916 \cellx4444\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx5347\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone 
\clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth811 \cellx6158\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\row }\trowd \trrh216\trbrdrt\brdrs\brdrw10 \trbrdrl
\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236
\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1292 \cellx3528\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth916 
\cellx4444\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx5347\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth811 \cellx6158\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {
\fs22\lang1033\langfe1033\langnp1033 % Of total\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 37.3\cell 37.9\cell 38.4\cell 38.7\cell 38.7\cell }\pard 
\ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh216\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv
\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1292 \cellx3528\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth916 \cellx4444\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr
\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx5347\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth811 \cellx6158\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 
\clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\row }\trowd \trrh273\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1292 \cellx3528
\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth916 \cellx4444\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 
\cellx5347\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth811 \cellx6158\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\pard \qc \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Population under 21\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 
225\cell 231\cell 238\cell 244\cell 25\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh273\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr
\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1292 \cellx3528\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth916 \cellx4444\clvertalc\clbrdrt\brdrs\brdrw10 
\clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx5347\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth811 \cellx6158\clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\row }\trowd \trrh192\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 
\trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1292 \cellx3528\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth916 \cellx4444\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth903 \cellx5347\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth811 \cellx6158\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 % Of total\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 40.0\cell 
39.9\cell 39.7\cell 39.4\cell 38.9\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh192\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr
\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb
\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1292 \cellx3528\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth916 \cellx4444\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb
\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx5347\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth811 \cellx6158\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb
\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\row }\trowd \trrh235\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc
\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1292 \cellx3528
\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth916 \cellx4444\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 
\cellx5347\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth811 \cellx6158\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 % Of Bahrainis\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 63.8
\cell 64.2\cell 64.1\cell 64.6\cell 64.0\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh235\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 
\trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236\clvertalc\clbrdrt\brdrnone \clbrdrl
\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1292 \cellx3528\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth916 \cellx4444\clvertalc\clbrdrt\brdrnone 
\clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx5347\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth811 \cellx6158\clvertalc\clbrdrt
\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\row }\trowd \trrh340\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 
\trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1292 \cellx3528\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth916 \cellx4444\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr
\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx5347\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth811 \cellx6158\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr
\brdrnone \cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 a = Mid-year\cell \cell \cell \cell \cell \cell }\pard 
\ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh340\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv
\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1292 \cellx3528\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth916 \cellx4444\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr
\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx5347\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth811 \cellx6158\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr
\brdrnone \cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\row }\trowd \trrh532\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone 
\clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth3528 \cellx3528\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth916 \cellx4444\clvertalc\clbrdrt\brdrnone 
\clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx5347\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth811 \cellx6158\clvertalc\clbrdrt\brdrnone 
\clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Source: Central Statistical Organisation\cell \cell \cell \cell 
\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh532\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 
\trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth3528 \cellx3528\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth916 \cellx4444\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx5347\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth811 \cellx6158\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\row }\trowd \trrh422\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb
\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236\clvertalc\clbrdrt\brdrnone 
\clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2208 \cellx4444\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx5347\clvertalc\clbrdrt\brdrnone 
\clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth811 \cellx6158\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\pard 
\ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\b\i\fs22\lang1033\langfe1033\langnp1033 \cell }\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {
\b\i\fs22\lang1033\langfe1033\langnp1033 \cell \cell \cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh422\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb
\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2236 \cellx2236\clvertalc\clbrdrt\brdrnone 
\clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2208 \cellx4444\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx5347\clvertalc\clbrdrt\brdrnone 
\clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth811 \cellx6158\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth667 \cellx6825\row }\pard 
\ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\trowd \trrh422\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth2208 \cellx2208\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx3111\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {
\b\i\fs22\lang1033\langfe1033\langnp1033 Government\cell \cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\b\i\fs22 \trowd \trrh422\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr
\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2208 \cellx2208\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb
\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth903 \cellx3111\row }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par Bahrain gained full independence from British protection in 1971 and the government is administered by a cabinet, comprising members of the ruling Al\-Kha1ifa family and prominent citizens. The Head
 of State is His Highness the Amir, Shaikh Hamad Bin Isa Bin Sulman AI-Khalifa.
\par 
\par Apart from providing a stable government, Bahrain has an active policy to encourage foreign investment and support private enterprise.
\par 
\par Bahrain became a member of the United Nations and the Arab League in 1971. In 1981 it joined its five neighbours }{\fs22\lang1033\langfe1033\langnp1033 - }{\fs22\lang1033\langfe1033\langnp1033 
Saudi Arabia, Oman, Kuwait, the United Arab Emirates and Qatar }{\fs22\lang1033\langfe1033\langnp1033 - }{\fs22\lang1033\langfe1033\langnp1033 
to form the strategic alliance called the Gulf Co-operation Council (GCC). The GCC plans to have a common market by 2005 similar to that of the European Union, through the implementation of unified Economic Agreements.
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Bahrain has an independent legal and judicial system with a framework of commercial laws and has become an international and GCC arbitration center.

\par 
\par }\pard \qj \li0\ri0\sl297\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Transportation and communications
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
Bahrain International Airport, which handles over 3.7 million passengers a year, has a fully automatic landing system, a large automated air cargo terminal and an attractive duty-free shopping complex. It is a scheduled st
op for 23 airlines, including Gulf Air, British Airways, Cathay Pacific, Saudi Air, Kuwait Air, KLM, Air India and Emirates.
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 The newly designed passenger terminal can handle up to ten million passengers a year. Gulf Air has its headquarters in Bahrain and
 offers a service to most Middle East destinations. Bahrain is also a regional hub for major courier companies.
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 The major seaport, Mina Sulman, was established in 1954 and can accommodate vessels up to 65,000 tons. It has a container capacity of 150,000}{
\fs22  TEU's}{\fs22\lang1033\langfe1033\langnp1033 
 per year, a competitive port tariff service, large covered storage area, and bonded area with minimum documentary requirements and comprehensive marine engineering and repair facilities. Construction of a new port near Hidd is in progress and is expec
ted to be completed by 2005. With a deeper access channel, it will be able to receive larger ships.
\par 
\par Bahrain has good road systems, which are being continually improved. The 25 kilometers link to Saudi Arabia the King Fahad Causeway, puts Bahrain drivers w
ithin an hour of the major population centres of the Eastern Province of Saudi Arabia and about four hours drive to Kuwait and Riyadh. The Causeway provides fast direct accessibility to the markets of Kuwait, Saudi Arabia, Qatar, UAE, Oman and the rest of
 the Middle East.
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par Bahrain was the first country in the Middle East to install a satellite communication system and its telecommunication system is among the most advanced in the region with its entire network equipped with digital transmission. The compreh
ensive range of services available includes:
\par 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl355\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls3\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls3\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Direct dialing and fax transmission facilities to 156 countries;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl355\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls3\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls3\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Three satellite systems for voice and picture transmission and television;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl360\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls3\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls3\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Access to Internet, Web network and E-commerce. Access to international databases;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl355\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls3\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls3\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Competitive charges;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl355\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls3\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls3\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Prompt availability of mobile/cellular phones; and
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl374\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls3\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls3\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Use of radio communication networks for individual companies. Tele - conferences.
\par }\pard \qj \li0\ri0\sl374\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Tourism
\par 
\par }{\fs22\lang1033\langfe1033\langnp1033 Bahrain attracts tourists from the neighboring Gulf States, mainly by road via the Causeway. Features which make Bahrain an attractive tourist destination are:
\par 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl350\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls4\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls4\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Generally pleasant, stress-free lifestyle;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl355\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls4\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls4\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Water sports, golf, pearl diving expeditions, scuba diving and dhow trips;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl355\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls4\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls4\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 First class hotel accommodation and restaurants; Excellent and varied clubs;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl360\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls4\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls4\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Amusement and wildlife parks and social amenities for families; and Friendly, hospitable, crime-free environment.
\par }\pard \qj \li0\ri0\sl360\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 \page 
\par }\pard \qj \li0\ri0\sl499\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs28\lang1033\langfe1033\langnp1033 Chapter }{\b\fs28\lang1033\langfe1033\langnp1033 2
\par }\pard \qj \li0\ri0\sl336\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Business and economic background
\par }\pard \qj \li0\ri0\sl292\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 The economy
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Prior to the discovery of oil, Bahrain's economy was one of the
 most prosperous on the northern shores of the Arabian Peninsula. Its geographical position made it a natural trading hub. Bahrain's waters are patterned by coral reefs and shallow banks, which support a rich sea-life. For much of the 18th and 19th centur
y, Bahrain was an important pearl fishery centre.
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
With the discovery of oil in 1932, Bahrain was the first country in the southern Gulf region to have an oil-based economy. This prompted rapid industrialisation and a shift away from traditional activities 
such as agriculture, pearl fishing, etc. However,: lf the reserves proved to be small, measures were taken to expand the economy in the construction, industrial and services sectors.
\par 
\par At current rates of production, oil reserves are likely to be exhausted 
by 2010. Offshore exploration activity is currently being pursued by the government. Gas _reserves have an estimated life of 60 years and this resource has provided much of the basis for energy-intensive industrial development undertaken in Bahrain.

\par 
\par After a decade of rapid growth in the seventies, followed by the recession of the eighties caused by the Iran-Iraq war, the Bahrain economy is now in a period of consolidation, with the government exploring ways to expand and diversify its economic base.

\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 While
 oil accounts for over half the country's export, industrial diversification has created a range of downstream business opportunities and has generated infrastructure support. Strategically located as a "gateway" to the Middle East, Bahrain continues to p
romote capital and energy intensive industries with a strong export orientation.
\par 
\par }\pard \qj \li0\ri0\sl177\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Summarized below is the composition of Bahrain's gross domestic product:
\par }\pard \qj \li0\ri0\sl254\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Table (A) }{\b\fs22\lang1033\langfe1033\langnp1033 - }{\b\i\fs22\lang1033\langfe1033\langnp1033 Gross Domestic Product }{
\b\fs22\lang1033\langfe1033\langnp1033 at }{\b\i\fs22\lang1033\langfe1033\langnp1033 Current Prices
\par 
\par }\trowd \trrh523\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\pard 
\ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Sectors\cell }\pard \qc \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 1996\cell 1997\cell 1998\cell }\pard 
\ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh523\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv
\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\row }\trowd \trrh235\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv
\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 
\clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \cell }\pard \qc \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {
\fs22\lang1033\langfe1033\langnp1033 BD Millions\cell BD Millions\cell BD Millions\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh235\trbrdrt\brdrs\brdrw10 \trbrdrl
\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 
\cellx3340\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\row }\trowd \trrh259\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 
\trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340
\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\pard \qc \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {
\fs22\lang1033\langfe1033\langnp1033 1. The Non- Financial Corp. Sector\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 1,665.1\cell 1,709.9\cell 1,592.1\cell }\pard 
\ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh259\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv
\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 
\clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 
\clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\row }\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 - Crude petroleum & natural gas\cell 
}\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 411.8\cell 441. 7\cell 311.4\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd 
\trrh259\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200
\row }\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 - Manufacturing\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 336.8\cell 350.6\cell 296.1\cell }\pard 
\ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh259\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv
\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 
\clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 
\clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\row }\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 - Real estate\cell }\pard 
\qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 216.2\cell 230.2\cell 238.9\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh259
\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 
\clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\row }\trowd 
\trrh249\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200
\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 - Trade\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 243.9\cell 221.1\cell 235.0\cell }\pard 
\ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh249\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv
\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 
\clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 
\clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\row }\trowd \trrh268\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 
\trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb
\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 - Transport and communication
\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 166.1\cell 168.7\cell 192.7\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 
\trowd \trrh268\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200
\row }\trowd \trrh249\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 
\clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 
\clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 
\cellx7200\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 - Social & personal services\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 84.7\cell 90.8\cell 100.1
\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh249\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 
\trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb
\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\row }\trowd \trrh268\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh
\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 
\clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc
\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 - Construction\cell 
}\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 98.8\cell 93.7\cell 94.5\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd 
\trrh268\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200
\row }\trowd \trrh249\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 
\clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 
\clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 
\cellx7200\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 - Hotels & restaurants\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 45.9\cell 48.7\cell 53.9\cell 
}\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh249\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 
\trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb
\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\row }\trowd \trrh259\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh
\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 
\clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc
\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 - Electricity & water
\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 35.6\cell 39.4\cell 43.8\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd 
\trrh259\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200
\row }\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 - Agriculture & fisheries\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 21.5\cell 20.5\cell 21.0\cell 
}\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh259\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 
\trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb
\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\row }\trowd \trrh249\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh
\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 
\clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc
\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 - Mining & quarrying\cell 
}\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 3.8\cell 4.5\cell 4.7\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh249
\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 
\clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\row }\trowd 
\trrh268\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200
\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \cell \cell \cell }\pard 
\ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh268\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv
\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 
\clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 
\clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\row }\trowd \trrh249\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 
\trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb
\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 2. The Financial Corp. Sector
\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 453.6\cell 504.5\cell 532.9\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 
\trowd \trrh249\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200
\row }\trowd \trrh268\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 
\clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 
\clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 
\cellx7200\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 -}{\fs22\lang1033\langfe1033\langnp1033  Financial Institutions\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {
\fs22\lang1033\langfe1033\langnp1033 110.7\cell 126.8\cell 140.3\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh268\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 
\trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340
\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\row }\trowd \trrh249\trbrdrt\brdrs\brdrw10 \trbrdrl
\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 
\clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\pard 
\ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 - Offshore financial institutions\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 212.8\cell 244.4\cell 265.8\cell 
}\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh249\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 
\trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb
\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\row }\trowd \trrh259\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh
\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 
\clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc
\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 - Insurance\cell }\pard 
\qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 130.1\cell 133.3\cell 126.8\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh259
\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 
\clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\row }\pard 
\ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \cell \cell \cell }\pard 
\ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh259\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv
\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 
\clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 
\clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\row }\trowd \trrh249\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 
\trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb
\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 3. Government Services\cell 
}\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 395.7\cell 408.3\cell 433.7\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd 
\trrh249\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200
\row }\trowd \trrh268\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 
\clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 
\clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 
\cellx7200\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \cell \cell \cell }\pard 
\ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh268\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv
\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 
\clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 
\clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\row }\trowd \trrh249\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 
\trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb
\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 4. Producers of Private Non Profit
\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 0.3\cell 0.4\cell 0.5\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd 
\trrh249\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200
\row }\trowd \trrh259\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 
\clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 
\clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 
\cellx7200\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Services to households\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \cell \cell \cell }\pard 
\ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh259\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv
\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 
\clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 
\clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\row }\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \cell }\pard 
\qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \cell \cell \cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh259\trbrdrt
\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 
\clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\row }\pard 
\ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 5. Household Services\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 15.1\cell 15.6\cell 16.2\cell }\pard 
\ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh259\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv
\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 
\clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 
\clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\row }\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \cell }\pard 
\qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \cell \cell \cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh259\trbrdrt
\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 
\clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\row }\trowd 
\trrh249\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200
\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 6. Less: Imputed Services Charge\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 (280.4)\cell (306.8)\cell 
(313.6)\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh249\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh
\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 
\clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc
\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\row }\trowd \trrh268\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 
\trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884
\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \cell }\pard 
\qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \cell \cell \cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh268\trbrdrt
\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 
\clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\row }\trowd 
\trrh249\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200
\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 7. Import Duties\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 44.9\cell 55.4\cell 63.4\cell }\pard 
\ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh249\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv
\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 
\clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 
\clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\row }\trowd \trrh259\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 
\trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb
\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \cell }\pard 
\qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \cell \cell \cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh259\trbrdrt
\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 
\clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\row }\trowd 
\trrh307\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr
\brdrs\brdrw10 \clcbpat18\cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \clcbpat18\cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \clcbpat18\cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\clcbpat18\cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 TOTAL GDP\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 
2,294.3\cell 2,387.4\cell 2,325.2\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh307\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr
\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \clcbpat18\cltxlrtb\clftsWidth3\clwWidth3340 \cellx3340\clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \clcbpat18\cltxlrtb\clftsWidth3\clwWidth1392 \cellx4732\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\clcbpat18\cltxlrtb\clftsWidth3\clwWidth1152 \cellx5884\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \clcbpat18\cltxlrtb\clftsWidth3\clwWidth1316 \cellx7200\row }\pard 
\ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl259\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Source: Bahrain Monetary Agency, }{\i\fs22\lang1033\langfe1033\langnp1033 Annual Report
\par 
\par }\pard \qj \li0\ri0\sl292\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Government Economic policy
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
While other Gulf States have sufficient oil revenue to enable their citizens to enter business or public service, Bahrain's limited oil and gas reserves have made it the 11y Gulf Co-operation Council (GCC) st
ate with an indigenous working class. An estimated 20,000 Bahrainis are expected to enter the labour market over the next five years.
\par 
\par To compensate for its small hydrocarbon reserves, the government has sought to versify Bahrain's economic base away from 
energy and focused its development ending on the creation of an adequate industrial infrastructure and the establishment of certain major state and joint public-private heavy industries.
\par 
\par In 1990 the services sector employed 68% of the workforce, up from 4
2% in 1960 and dwarfing industry's 30% share. This reflects Bahrain's success in exploiting its location to become an important services and distributive centre for the Gulf, though the sector has been undermined by regional instability. Iraq's invasion o
f
 Kuwait in 1990, for example, badly damaged investor confidence. Since then the situation has improved and Bahrain has retained its position as the region's financial se, although there has been growing competition from the lower Gulf, particularly Dubai.

\par }\pard \qj \fi76\li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
Bahrain has also concentrated on improving the environment for foreign business. It has done this in part by maintaining a stable monetary environment, which has seen exchange rates remain unchanged for almost 20 years. The Bahrain Monetary Agency (BMA, t
he central bank) has also worked hard to build a good reputation as
\par }\pard \qj \fi38\li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 an effective banking regulator to encourage the development of the offshore banking sector.
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 The Bahraini legal system also has a good reputation, and foreign firms have been le to resolve
 disputes satisfactorily through the local courts. There are no restrictions on the use of international arbitration to safeguard contracts. In addition, there has been a steady relaxation of ownership rules, with 100% foreign-owned firms now allowed to o
p
erate on the island without a local partner under certain conditions. In mid 1999 the government also allowed GCC nationals to own 100% stakes in firms listed on the Bahrain Stock Exchange and increased the proportion that may be owned by other foreigners
 to 49%.
\par 
\par The BMA in 1992 established the Bahrain Marketing and Promotion Board (BMPB) to actively seek out foreign investment. The autonomous BMPB also acts as a "one stop shop" to secure permits for foreign firms and help them meet other legal requirement
s for establishing themselves on the island. In 1999 the US-based
\par Heritage Foundation rated Bahrain the world's third most open economy (after Hong Kong and Singapore).
\par 
\par As a result, Bahrain's economy has been transformed from an economy dependent on the e
nergy sector for output and employment, to a modem industrial economy and service centre. Government policies are geared towards the development of the industrial, commercial services and distribution sectors, and encouraging international, regional and l
ocal investors.
\par 
\par The Government issues budget every two years. Historically, the government has run a budget deficit almost every year since the mid 1980s, although the size of the deficit has varied in line with shifts in prices for Bahrain's export commodities. The }{
\fs22\lang1033\langfe1033\langnp1033 budgets for 1999 and }{\fs22\lang1033\langfe1033\langnp1033 2000 }{\fs22\lang1033\langfe1033\langnp1033 forecast a cumulative deficit of BD 320m.
\par 
\par }\pard \qc \li0\ri0\sl244\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Summary }{\b\fs22\lang1033\langfe1033\langnp1033 of }{\b\i\fs22\lang1033\langfe1033\langnp1033 government projected finances }{
\fs22\lang1033\langfe1033\langnp1033 (BD m)
\par 
\par }\pard \ql \li0\ri0\sl278\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\ul\lang1033\langfe1033\langnp1033 Revenue Expenditure \tab Balance
\par }{\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \ql \fi720\li0\ri0\sl283\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 1998 \tab \tab 630 730-100
\par }\pard \qj \fi-96\li0\ri0\sl283\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \ql \fi720\li0\ri0\sl283\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 1999 \tab \tab 566 726-160
\par }\pard \qj \fi-100\li0\ri0\sl283\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \fi720\li0\ri0\sl283\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 2000 \tab \tab 572 732 -160
\par }\pard \qj \fi-96\li0\ri0\sl283\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl196\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Source: Ministry of Finance and National Economy.
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
To meet its fiscal deficit, the government issued BD 40m in bonds in 1998, the first sold directly to the public. The five-year bonds, which carry a coupon of 6.25%, are guaranteed directly and unconditionally by the government. They were op
en to all investors regardless of nationality. There are plans to issue further domestic bonds in the coming years. The government also issues Treasury bills and in 1998 received permission from the Amir to issue bonds & treasury bills up to BD 600m a yea
r.
\par 
\par }\pard \qj \li0\ri0\sl249\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 The key features of current government policies are:
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl364\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls5\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls5\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Expansion and diversification of the economy; }{\fs22\lang1033\langfe1033\langnp1033 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl364\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls5\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls5\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Job creation;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl364\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls5\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls5\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Application of incentives in key sectors; 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl364\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls5\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls5\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Improvement of economic planning and management;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl360\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls5\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls5\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Rationalization of government expenditure; and 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl360\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls5\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls5\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Development of closer ties with the GCC and other regions.
\par }\pard \ql \li0\ri0\sl360\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard\plain \s8\qj \li0\ri0\sl249\slmult0\keepn\nowidctlpar\faauto\outlinelevel7\rin0\lin0\itap0 \b\i\fs22\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {Economic Performance
\par }\pard\plain \qj \li0\ri0\sl249\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 \fs24\lang2057\langfe1033\cgrid\langnp2057\langfenp1033 {\b\i\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
GDP growth rates in Bahrain in recent decades have tended to mirror developments in the international energy markets. Rapid growth following the oil shock of the early 1970s
 gave way to contraction during the weak oil years of the 1980s. During the 1990s the pattern has continued, with the economy showing healthy growth in the aftermath of the Gulf war as prices remained strong, before slowing sharply in 1998 as oil prices c
r
ashed. Since mid 1999 there has been a sharp rise in international energy prices, which saw the price of the benchmark Brent blend exceed $ 25.47 per barrel, from a low of under $101b in early 1999. As a result the economic outlook has brightened consider
ably and the GDP growth rate is expected to be around 2% in 2000. }{\fs22\lang1033\langfe1033\langnp1033 This pattern is similar to those seen elsewhere in the Gulf, but as Bahrain has }{\fs22\lang1033\langfe1033\langnp1033 
a more diverse economic base, the pattern is less pronounced. However, Bahrain is so closely linked to the economies of its neighbours that contraction elsewhere in the Gulf quickly affects Bahrain.
\par 
\par Exports form the largest single component of GDP and changes in value of exports have tended to determine growth. In constant terms there has been a steady expansion o
ver the 1990s, reflecting increased output from Bahrain's refinery and the aluminum plant operated by Bahrain (Alba), which now accounts for about 14% of Bahrain's total exports and 45% of non-oil exports.
\par 
\par Direct government consumption has typically amoun
ted to 20-25% of GDP, but as the state is also the country's most important employer and supplier of capital projects, government spending has a direct effect on private consumption and the activity of much of the private business sector. This largely acc
ounts for the government's willingness to record fiscal deficits rather than allow overall spending to fall.
\par 
\par From the supply side, the services sector has grown to over 65% of GDP. Growth has come in part from the development of Bahrain's port and airport 
facilities, which have turned the island into a regional transport hub. Bahrain has also grown as a regional banking centre, and benefited more than any other country from the exit of financial institutions from Lebanon during the 1975-90 civil war. The g
o
vernment has actively sought to promote further development in the financial services sector, while also developing the island's tourism facilities. The opening of the causeway to Saudi Arabia, coupled with Bahrain's relatively open atmosphere and liberal
 attitude, has led to a boom in visitors from Saudi Arabia. Dubai also provides Bahrain with stiff competition in the services sector.
\par 
\par }\pard \qj \fi38\li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Inflation }{\fs22\lang1033\langfe1033\langnp1033 (% change)
\par 
\par }\pard \ql \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\ul\lang1033\langfe1033\langnp1033 Consumer prices
\par }{\fs22\lang1033\langfe1033\langnp1033 Sources: Bahrain Monetary Agency.
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\tx144\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 1998 \tab \tab 0.2
\par }\pard \ql \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Annual Average 
\par }{\fs22\ul\lang1033\langfe1033\langnp1033 1994-98}{\fs22\lang1033\langfe1033\langnp1033 \tab 0.8
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\tqr\tx1382\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 The BMA'
s tight monetary polices have kept inflation low throughout the 1980s and 1990s, during which time the consumer price index has never risen by more than 3% in anyone year. This is helped by the stability of the exchange rate and the governments continued 
s
ubsidies on many basic goods and services to further support price stability. Inflation is expected to pick up slightly in 1999-2000 as GDP growth begins to recover. The only factor that would prompt a rapid change in prices would be a devaluation of the 
dinar. The BMA is committed to maintaining its peg against the dollar at $BD 0.376: I, but instability in any of the neighbouring countries' fixed rates, particularly Saudi Arabia's, could prompt devaluation.
\par 
\par }{\b\i\fs22\lang1033\langfe1033\langnp1033 Market location
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Bahrain is an attractive base 
for any industry because of its tax free environment, stable currency, well developed infrastructure, low energy and operating costs and its proximity by road, sea and air to major regional markets.
\par 
\par GCC states are taking rapid strikes in increasing their level of economic co-operation and working towards achieving greater economic integration.
\par 
\par }\pard \qj \li0\ri0\sl249\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 The economic potential of the region can be gauged from the following:
\par 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl220\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls6\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls6\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 GCC gross domestic product in 1998 was estimated at $ 235 billion and the average per capita income was approximately $8000;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl374\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls6\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls6\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Two thirds of the world's proven oil reserves are found in the Gulf;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl364\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls6\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls6\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Substantial gas fields throughout the region;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sb139\sl225\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls6\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls6\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 World demand for oil in the first decade of 2000 is expected to rise and as reserves in other regions are depleted, more of the world's oil requirements will be met by the Gulf States;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl360\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls6\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls6\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 High credit rating and excellent debt servicing record;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sb144\sl216\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls6\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls6\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Free cross-border flows of products and services and finance among GCC member states; and
\par }\pard \qj \li0\ri0\sl220\slmult0\nowidctlpar{\*\pn \pnlvlcont\ilvl0\ls0\pnrnot0\pndec }\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl220\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls6\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls6\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 The GCC population in 1998 was estimated at 29.5 million and the projected population growth rate for 2000-2005 is 14.81 %.
\par }\pard \qj \li0\ri0\sl220\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs28\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs28\lang1033\langfe1033\langnp1033 Economic Sectors}{\b\i\fs22\lang1033\langfe1033\langnp1033 
\par 
\par }{\fs22\lang1033\langfe1033\langnp1033 Bahrain has several industrial areas, which are home to manufacturing, assembly, processing, maintenance, repair, warehousing, distributing, fabr
icating and engineering. The larger specialized industries are briefly described below:
\par 
\par }\pard \qj \li0\ri0\sl297\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Agriculture
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
The agriculture sector has declined since the 1960s, largely as a result of heavy demands on Bahrain's limited underground water resources, which have cau
sed the water table to drop and soil salinity to increase. By the late 1970s, 75% of agricultural land in the most fertile northern zone had been abandoned.
\par 
\par }\pard \qj \li0\ri0\sl292\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Fishing
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 In the 1970s the fishing industry declined, largely as a result of pollution in the Gulf,
 which damaged the shrimp population. The sector has recovered since then, with a new fishing port opening on Muharraq in 1984 and a new facility under construction at Sitra. Since 1993 the government has been releasing young fish into local waters to boo
st stocks and reverse a decline in catches. Fish consumption per head in Bahrain is around 25 kg per year, one of the highest levels in the world.
\par 
\par }\pard \qj \li0\ri0\sl292\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Energy
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\fs22\lang1033\langfe1033\langnp1033 Oil and refining }{\fs22\lang1033\langfe1033\langnp1033 Bahrain's oil production and reserves are far smaller than those of other Gulf State
s. Production from Bahrain's only onshore oilfield, Awali, was some 38,000 barrels per day in 1998, compared with production of 2.28m barrels per day }{\b\fs22\lang1033\langfe1033\langnp1033 in }{\fs22\lang1033\langfe1033\langnp1033 
the neighbouring United Arab Emirates. Total reserves are estimated at only 200m barrels, compared with 112bn barrels in Iraq.
\par }\pard \qj \li0\ri0\sl273\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 
\par Table (B) }{\b\fs22\lang1033\langfe1033\langnp1033 - }{\b\i\fs22\lang1033\langfe1033\langnp1033 Selected Oil Statistics
\par 
\par }\trowd \trrh288\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth4468 \cellx4468\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth2400 \cellx6868\pard 
\ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Description\cell }\pard \qc \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 D.S Barrels\cell }\pard 
\ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh288\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv
\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth4468 \cellx4468\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth2400 \cellx6868\row }\trowd \trrh201\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt
\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth4468 \cellx4468\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth2400 
\cellx6868\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \cell }\pard \qc \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 (Thousands)\cell }\pard 
\ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh201\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv
\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth4468 \cellx4468\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth2400 \cellx6868\row }\trowd \trrh259\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt
\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth4468 \cellx4468\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth1191 \cellx5659\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1209 \cellx6868\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {
\fs22\lang1033\langfe1033\langnp1033 \cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 1997\cell 1998\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {
\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh259\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 
\clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth4468 \cellx4468\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1191 \cellx5659\clvertalc
\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1209 \cellx6868\row }\trowd \trrh259\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 
\trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth4468 \cellx4468\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1191 \cellx5659\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1209 \cellx6868
\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Bahrain Crude Oil Production\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 14,159\cell 13,751\cell }\pard 
\ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh259\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv
\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth4468 \cellx4468\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 
\clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1191 \cellx5659\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1209 \cellx6868\row }\pard 
\ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Imports of Saudi Arabian Crude (1)\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 77,540\cell 77,049\cell }\pard 
\ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh259\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv
\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth4468 \cellx4468\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 
\clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1191 \cellx5659\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1209 \cellx6868\row }\pard 
\ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Refined Oil Production\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 91,592\cell 90,586\cell }\pard 
\ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh259\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv
\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth4468 \cellx4468\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 
\clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1191 \cellx5659\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1209 \cellx6868\row }\pard 
\ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Local Sales of Refined Products\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 4,274\cell 4,636\cell }\pard 
\ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh259\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv
\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth4468 \cellx4468\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 
\clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1191 \cellx5659\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1209 \cellx6868\row }\trowd \trrh268\trbrdrt
\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth4468 \cellx4468\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1191 \cellx5659\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 
\clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1209 \cellx6868\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Exports (2)\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 
{\fs22\lang1033\langfe1033\langnp1033 90,748\cell 91,043\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh268\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb
\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth4468 \cellx4468\clvertalc
\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1191 \cellx5659\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth1209 \cellx6868\row }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl321\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Source: Ministry of Oil and Industry
\par }\pard \ql \li0\ri0\sb105\sl216\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 (I) Imported crude used in refined products for import.
\par }\pard \qj \li0\ri0\sl216\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 (2) Includes imports by Bapco and Banagas
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 The Supreme Oil Council oversees the oil industry, while t
he state-owned Bahrain National Oil Company (Banoco) operates the Awali field and is responsible for exploration, drilling and oil production in Bahrain. Unlike other Gulf States, Bahrain exports refined petroleum products rather than crude. All refining 
i
s carried out by the state-owned Bahrain Petroleum Company (Bapco), which has been merged with Banoco, to cut costs. Around 16% of average refinery output of 250,000 bid is met by Bahrain's domestic crude oil production, and the rest, around 207,000 bid, 
is piped in from Saudi Arabia.
\par 
\par Since 1997 Bahrain has received the proceeds of production from Saudi Arabia's offshore Abu Saafa field. At current production rates, however, Bahrain's own }{\fs22\lang1033\langfe1033\langnp1033 resources will be exhausted by }{
\fs22\lang1033\langfe1033\langnp1033 2010 }{\fs22\lang1033\langfe1033\langnp1033 at the latest. The US firm Chevron is carrying }{\fs22\lang1033\langfe1033\langnp1033 
out a major exploration programme covering some 5,900 sq. km north and west of the mainland.
\par 
\par Modest reserves and declining production of oil have stimulated the exploitation of Bahrain's substantial gas reserves.
\par 
\par }{\b\i\fs22\lang1033\langfe1033\langnp1033 Gas
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Bahrain's gas reserve
s were 147bn cu meters in 1997 according to the Organisation of Arab Petroleum Exporting Countries, compared with 6,243bn cu meters in the UAE and 8,985bn cu meters in Qatar. Although relatively small, the reserves are large enough to be of commercial val
u
e and production has risen slowly in recent years from 8.5bn cu meters in 1990 to 11.3bn cu meters in 1997, roughly equivalent to the production of Kuwait. A gas liquefaction plant is operated by the Bahrain National Gas Company (Bangas), which supervises
 the collection and distribution of oil associated gas from the Bahrain oil field.
\par 
\par }\pard \qj \li0\ri0\sl340\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Gas: }{\b\i\fs22\lang1033\langfe1033\langnp1033 reserves and production
\par }\pard \qj \fi2294\li0\ri0\sb134\sl206\slmult0\nowidctlpar\tqr\tx2683\tqr\tx3374\tx3739\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 1993 \tab   1994     1995 
\par }\pard \qj \li0\ri0\sb134\sl206\slmult0\nowidctlpar\tqr\tx2683\tqr\tx3374\tx3739\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Reserves (bn cu meters)\tab 154\tab 147\tab 139
\par }\pard \qj \li0\ri0\sl206\slmult0\nowidctlpar\tqr\tx2683\tqr\tx3374\tx3739\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Production (bn cu meters)\tab 10.3\tab 10.4\tab 10.4
\par 
\par }\pard \qj \li0\ri0\sl206\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Source: Organisation of Arab Petroleum Exporting Countries
\par }\pard \ql \li0\ri0\sl206\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 1996 \tab 1997
\par }\pard \qj \li0\ri0\sl206\slmult0\nowidctlpar\tx115\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 \tab 132 \tab 142
\par 10.2 \tab 11.3
\par }\pard \qr \li0\ri0\sl206\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl297\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Manufacturing
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
The discovery of oil in Bahrain prompted rapid industrialisation and a shift away from traditional activities. Ship repair and light engineering facilities have since been established to serve
 the regional oil industry, while aluminum and petrochemical plants benefit from low-cost power and feedstock. In 1998 manufacturing accounted for 12.7% of total GDP.
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Aluminum
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Aluminum is, apart from oil, Bahrain's oldest and most securely established ind
ustry. Bahrain was chosen as the site to build a smelter as it was strategically placed between sources of bauxite in West Australia and the major potential customers for the finished products in Europe, Asia, the Far East and the United States. A vital i
ngredient, natural gas, is available in ample quantities.
\par 
\par Bahrain's manufacturing sector has been dominated for many years by the Alba smelter, which is majority state-owned, although Saudi Arabia's Public Investment Fund has a 20% stake. The participation
 of Saudi Arabia boosted Alba's fortunes by inducing Saudi Arabia to abandon plans to build a rival smelter in Jubail.
\par 
\par Alumina is imported from Australia and the output is marketed by the Bahrain Saudi Aluminum Marketing Company, Balco. Its capacity of 50
0,000 tonnes per year makes the smelter one of the largest in the world. Alba has secured $400m in financing for a 450,000 tonnes per year coke-calcinating plant, scheduled for }{\fs22\lang1033\langfe1033\langnp1033 completion in }{
\fs22\lang1033\langfe1033\langnp1033 2000. }{\fs22\lang1033\langfe1033\langnp1033 Of this, Alba will use 250,000 tonnes per year and export the }{\fs22\lang1033\langfe1033\langnp1033 
remainder. The smelter has spawned a number of downstream and other industries including:
\par 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl216\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls7\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls7\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Aluminum cables for power transmission }{\fs22\lang1033\langfe1033\langnp1033 - }{\fs22\lang1033\langfe1033\langnp1033 Middle East Aluminum (Midal) Cables;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl302\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls7\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls7\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 A rolling mill for sheet aluminum }{\fs22\lang1033\langfe1033\langnp1033 - }{\fs22\lang1033\langfe1033\langnp1033 Gulf Aluminum Rolling Mill Company;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl302\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls7\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls7\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 An extrusion factory }{\fs22\lang1033\langfe1033\langnp1033 - }{\fs22\lang1033\langfe1033\langnp1033 Bahrain Aluminum Extrusion Company; and
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sb86\sl216\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls7\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls7\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 An atomizing plant for producing aluminum powder for paint and other uses \- Bahrain Atomizers International.
\par }\pard \qj \li0\ri0\sl216\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Petrochemicals
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 The Gulf Petrochemical Industries Corporation (GPIC), a joint venture between B
anoco, Saudi Basic Industries Corporation (Sabic) and Kuwait's Petrochemical Industries Company (KPIC), established its petrochemicals complex at Sitra in 1985. The plant has a capacity of 1,200 tonnes per year of methanol and ammonia, using natural-gas f
e
edstock. In early 1998 the company commissioned a 1,700 tonnes per day urea facility at a cost of $ 180m as part of its plans to diversify. The National Chemical Industries Corporation (Nacic) was set up in early 1993 to build a sulphur derivatives plant 
with a capacity of 9,000 tonnes per year of sodium sulphite and 6,000 tonnes per year of metabisulphite. Feedstock is purchased from the Sitra refinery of Bapco, which has agreed to supply the sulphur at a reduced price.
\par 
\par }{\b\i\fs22\lang1033\langfe1033\langnp1033 Construction
\par 
\par }{\fs22\lang1033\langfe1033\langnp1033 The construction sector is heavily reliant on government infrastructure contracts.
\par The industry experienced rapid growth as the government funded the construction of heavy industrial plants and major infrastructure projects, such as the causeway connecting Bahrain to Saudi Ara
bia. Confidence boomed at the end of the Iran-Iraq war, but was then badly damaged by the Iraqi invasion of Kuwait in 1990. In 1998 the sector accounted for some 4% of GDP, but has been in recession since 1996. There are a number of planned projects that 
could prompt further growth, such as the development of the Hidd industrial zone, the construction of a causeway linking Hidd to Manama and a number of new power and water schemes.
\par 
\par }\pard\plain \s1\qj \li0\ri0\sl403\slmult0\keepn\nowidctlpar\faauto\outlinelevel0\rin0\lin0\itap0 \b\i\fs28\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {Financial services
\par }\pard\plain \qj \li0\ri0\sl278\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 \fs24\lang2057\langfe1033\cgrid\langnp2057\langfenp1033 {\b\i\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl307\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Banking and Financial Center
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Bahrain has used its geographical position to become the financial services centre of
\par the Middle East. There are a large number of financial institutions operating in Bahrain, many of which came to the island when the Lebanese civil war caused the near-collapse of Beirut as a fina
ncial centre in the late 1970s. Bahrain was helped in this by its well-established regulatory system and its proximity to the pivotal markets of Saudi Arabia and Kuwait. Confidence in Bahrain has been dented by periodic regional political crises such as t
h
e 1990-91 Gulf war. The BMA has also established an excellent reputation as an effective and pragmatic banking regulator. Its reputation as the best regulator in the GCC is well deserved. Bahrain is also facing growing competition from Dubai and Cyprus fo
r its existing and new business.
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
However, major regional banks such as the Arab Banking Corporation (ABC) and Gulf International Bank (GIB), (which between them control 45% of total assets) are committed to Bahrain.
\par }\pard \qj \li0\ri0\sb91\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Utilizing modem worldwide communications,
 Bahrain serves both a regional and international clientele and provides a complete range of financial and banking services including offshore facilities.
\par 
\par }\pard \ql \li0\ri0\sl336\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Major attractions of Bahrain for banks are:
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl336\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls8\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls8\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Fair, competent, stable administration by the Bahrain Monetary Agency; .No taxation;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl336\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls8\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls8\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Free foreign exchange movement;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl336\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls8\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls8\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Advanced telecommunications and support services;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl336\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls8\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls8\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Suitability of time zones;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl336\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls8\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls8\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Stable currency and banking environment;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl336\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls8\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls8\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Major regional deposit taking and lending opportunities;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl336\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls8\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls8\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 A trained workforce; and
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl336\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls8\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls8\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 A high quality of life.
\par }\pard \ql \li0\ri0\sl336\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl297\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Offshore banking
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
The offshore banking unit (OBU) sector recorded a 21.5% increase in assets and liabilities in 1998 to a record $87.6bn. Recently, Citibank of the US, Arab Bank of Jordan and British Bank (part of the Hong Kon
g Shanghai Banking Corporation) have all announced plans to build new Head Offices in Manama.
\par 
\par }\pard \qj \li0\ri0\sl297\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Islamic Banking
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Bahrain has also developed into a regional centre for Islamic Banking. Two Islamic Commercial banks, the Bahrain Islamic Bank and Faysal Islamic
 Bank of Bahrain, operate alongside eight Islamic investment banks. In mid 1996 Citibank established an Islamic banking unit, Citi Islamic Investment Bank. Recently several large international Islamic Banks have chosen to establish themselves in Bahrain i
ncluding the Islamic Development Bank. The locally based ABC has started its own Islamic Banking unit.
\par 
\par }\pard \qj \li0\ri0\sl297\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Domestic Banking
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Five banks, which share 80% of local bank assets, dominate the domestic banking sector. The domestic. sector operations are controlled 
by the BMA, which sets minimum reserve requirements, liquidity ratios and limits on loans to directors. Major commercial banks reported rises in profits in 1998.
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 The consolidated balance sheet of Bahrain's banking system (commercial banks, offshore bankin
g units, and investment banks) rose from US$ 83.5 billion at the end of 1997 to US$ 99.4 billion at the end of 1998, an increase of US$ 15.9 billion, or 19.0%.
\par 
\par Total net foreign assets of the banking system rose from US$ 3.5 billion at the end of 1997 to US$ 3.6 billion at the end of 1998.
\par \page 
\par }\pard \qj \li0\ri0\sl254\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\i\fs22\lang1033\langfe1033\langnp1033 Table (C) }{\fs22\lang1033\langfe1033\langnp1033 - }{\i\fs22\lang1033\langfe1033\langnp1033 Consolidated Balance Sheet }{
\fs22\lang1033\langfe1033\langnp1033 of }{\i\fs22\lang1033\langfe1033\langnp1033 the Banking System
\par 
\par }\trowd \trrh326\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth2112 \cellx2112\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth892 \cellx3004\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1556 \cellx4560\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1545 \cellx6105\clvertalc
\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth826 \cellx6931\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \cell }\pard 
\qc \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Banks}{\fs22\lang1033\langfe1033\langnp1033  at\cell End 1997\cell End 1998\cell Annual\cell }\pard 
\ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh326\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv
\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth2112 \cellx2112\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth892 \cellx3004\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1556 \cellx4560\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1545 \cellx6105\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth826 \cellx6931\row }\trowd 
\trrh220\trkeep\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth2112 \cellx2112\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth892 \cellx3004\clvmgf\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 
\clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1556 \cellx4560\clvmgf\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1545 \cellx6105\clvertalc
\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth826 \cellx6931\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Entities\cell }\pard 
\qc \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 the end\cell USD Billion\cell USD Billion\cell Change\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {
\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh220\trkeep\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth2112 \cellx2112\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth892 \cellx3004\clvmgf\clvertalc
\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1556 \cellx4560\clvmgf\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth1545 \cellx6105\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth826 \cellx6931\row }\trowd \trrh201\trkeep\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 
\trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth2112 \cellx2112
\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth892 \cellx3004\clvmrg\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb \cellx4560\clvmrg\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb \cellx6105\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth826 \cellx6931\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \cell }\pard \qc \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 of 1998\cell \cell 
\cell %\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh201\trkeep\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh
\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth2112 \cellx2112\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb
\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth892 \cellx3004\clvmrg\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb \cellx4560\clvmrg\clvertalc\clbrdrt\brdrs\brdrw10 
\clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb \cellx6105\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth826 \cellx6931\row }\trowd \trrh240
\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth2112 \cellx2112\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth892 \cellx3004\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb
\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth845 \cellx3849\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth711 \cellx4560\clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth816 \cellx5376\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth729 \cellx6105\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth826 \cellx6931\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {
\fs22\lang1033\langfe1033\langnp1033 \cell \cell }\pard \qc \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Absolute\cell %\cell Absolute\cell }\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {
\fs22\lang1033\langfe1033\langnp1033 %\cell \cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh240\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 
\trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth2112 \cellx2112\clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth892 \cellx3004\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth845 \cellx3849\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth711 \cellx4560\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb
\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth816 \cellx5376\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth729 \cellx6105\clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth826 \cellx6931\row }\trowd \trrh254\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh
\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth2112 \cellx2112\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 
\clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth892 \cellx3004\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth845 \cellx3849\clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth711 \cellx4560\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth816 
\cellx5376\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth729 \cellx6105\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth826 \cellx6931\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Commercial Banks\cell }\pard \qc \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 19
\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 8.3\cell 10.0\cell 8.7\cell 8.8\cell 4.8\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {
\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh254\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth2112 \cellx2112\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth892 \cellx3004\clvertalc
\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth845 \cellx3849\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth711 \cellx4560\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth816 \cellx5376\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb
\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth729 \cellx6105\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth826 \cellx6931\row }\trowd \trrh259\trbrdrt
\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth2112 \cellx2112\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth892 \cellx3004\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone 
\clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth845 \cellx3849\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth711 \cellx4560\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 
\clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth816 \cellx5376\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth729 \cellx6105\clvertalc\clbrdrt\brdrnone 
\clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth826 \cellx6931\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Offshore Banking Units\cell }\pard 
\qc \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 48\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 72.1\cell 86.3\cell 87.6\cell 88.0\cell 21.5\cell }\pard 
\ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh259\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv
\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth2112 \cellx2112\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth892 \cellx3004\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth845 \cellx3849\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb
\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth711 \cellx4560\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth816 \cellx5376\clvertalc\clbrdrt\brdrnone \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth729 \cellx6105\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth826 \cellx6931\row }\trowd 
\trrh331\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth2112 \cellx2112\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth892 \cellx3004\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 
\clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth845 \cellx3849\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth711 \cellx4560\clvertalc\clbrdrt
\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth816 \cellx5376\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth729 
\cellx6105\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth826 \cellx6931\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 
Investment Banks\cell }\pard \qc \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 42\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 3.1\cell 3.7\cell 3.1\cell 3.2\cell -
\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh331\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 
\trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth2112 \cellx2112\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 
\clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth892 \cellx3004\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth845 \cellx3849\clvertalc\clbrdrt\brdrnone \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth711 \cellx4560\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth816 \cellx5376
\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth729 \cellx6105\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth826 \cellx6931\row }\trowd \trrh470\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 
\clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth2112 \cellx2112\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth892 
\cellx3004\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth845 \cellx3849\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth711 \cellx4560\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth816 \cellx5376\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth729 \cellx6105\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth826 \cellx6931
\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Total\cell }\pard \qc \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 99\cell }\pard 
\qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 83.5\cell 100.0\cell 99.4\cell 100.0\cell 19.0\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {
\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh470\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth2112 \cellx2112\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth892 \cellx3004
\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth845 \cellx3849\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth711 \cellx4560\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth816 \cellx5376\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb
\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth729 \cellx6105\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth826 \cellx6931\row }\pard 
\ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 The consolidated balance of the banking system in Bahrain rose to reach US$ 100 billion in September 1999.
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 A Bahrai
n Development Bank has been set up jointly by the government and private institutions to provide long-term financing for priority projects on soft terms. The banks maximum loan exposure is BD 500,000 per project.
\par 
\par }\pard \qj \li0\ri0\sl249\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 The primary focus of the development bank is likely to be:
\par 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl220\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls9\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls9\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Long-term concessionary loans up to ten years to finance capital equipment and fixed costs;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sb100\sl220\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls9\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls9\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Venture capital subscriptions for select projects in the form of 49 percent equity contribution;
\par }\pard \qj \li0\ri0\sl220\slmult0\nowidctlpar{\*\pn \pnlvlcont\ilvl0\ls0\pnrnot0\pndec }\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl220\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls9\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls9\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Seed capital loans for small businesses and professions for up to eight years to finance start up costs; and
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl316\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls9\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls9\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Working capital loans to fund cash -flow gaps on a revolving basis.
\par }\pard \ql \li0\ri0\sl316\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Bahrain is also }{\fs22\lang1033\langfe1033\langnp1033 a major }{\fs22\lang1033\langfe1033\langnp1033 
insurance centre and there is significant reinsurance business written.
\par 
\par }\pard \qj \li0\ri0\sl307\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs28\lang1033\langfe1033\langnp1033 Capital market
\par }{\b\i\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 To promote th
e economic development of Bahrain and regulate share transactions, the Bahrain Stock Exchange, was established in 1989. Presently it trades in local public company shares and other listed exempt companies and banks. Other securities listed in Stock Exchan
ge include bonds, warrants and investment units.
\par 
\par }\pard \qj \li0\ri0\sl244\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
The plan is to extend its activities into a regional exchange, with a listing of Gulf wide companies. Implementation of the plan began with the listing of certain Omani and Kuwaiti companies.
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Bahrain Stock 
Exchange has recently implemented an automatic trading system, which converted the previously applied manual system into a modem electronic trading system. As a result of the implementation, operations of the Exchange are expected to be dematerialized to 
a great extent.
\par 
\par The Exchange currently lists 42 firms valued at BD 2.6bn. The market has performed poorly since mid-1998, with liquidity drying up and values falling sharply. To remedy these shortcomings the government has relaxed ownership restrictions wi
thin the market: Gulf cooperation Council (GCC) nationals are now allowed to own up to 100% of a listed firm, rather than 49%, as was previously the case. The ceiling on the stake that other foreigners may own has also been raised, from 24% to 49%.
\par \page 
\par }\pard \qj \li0\ri0\sl316\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Table (0) }{\b\fs22\lang1033\langfe1033\langnp1033 - }{\b\i\fs22\lang1033\langfe1033\langnp1033 Trading Activity }{
\b\fs22\lang1033\langfe1033\langnp1033 of }{\b\i\fs22\lang1033\langfe1033\langnp1033 the Bahrain Stock Exchange
\par 
\par }\trowd \trrh508\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3187 \cellx3187\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth777 \cellx3964\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth797 \cellx4761\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth845 \cellx5606\clvertalc
\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1334 \cellx6940\pard \qc \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Particulars\cell }\pard 
\qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 1996\cell 1997\cell 1998\cell }\pard \qc \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Annual change %\cell }\pard 
\ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh508\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv
\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3187 \cellx3187\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth777 \cellx3964\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth797 \cellx4761\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth845 \cellx5606\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth1334 \cellx6940\row 
}\trowd \trrh211\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3187 \cellx3187\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth777 \cellx3964\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 
\clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth797 \cellx4761\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth845 \cellx5606\clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth662 \cellx6268\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth672 \cellx6940\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \cell \cell \cell \cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 
97-96\cell 98-97\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh211\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 
\trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3187 \cellx3187\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 
\clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth777 \cellx3964\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth797 \cellx4761\clvertalc\clbrdrt
\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth845 \cellx5606\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth662 \cellx6268\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth672 \cellx6940\row }\trowd \trrh403\trbrdrt\brdrs\brdrw10 \trbrdrl
\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth3187 \cellx3187\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth777 \cellx3964\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb
\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth797 \cellx4761\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth845 \cellx5606\clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth662 \cellx6268\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth672 \cellx6940\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Number of shares traded (million)\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {
\fs22\lang1033\langfe1033\langnp1033 298.8\cell 630.1\cell 619.8\cell 110.9\cell -1.6\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh403\trbrdrt\brdrs\brdrw10 
\trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth3187 \cellx3187\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth777 \cellx3964\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb
\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth797 \cellx4761\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth845 \cellx5606\clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth662 \cellx6268\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth672 \cellx6940\row }\trowd \trrh297\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 
\clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3187 \cellx3187\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth777 
\cellx3964\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth797 \cellx4761\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth845 \cellx5606\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth662 \cellx6268\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth672 \cellx6940\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Value of shares traded (BD million)\cell }\pard 
\qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 66.6\cell 180.8\cell 217.3\cell 171.5\cell 20.2\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {
\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh297\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3187 \cellx3187\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth777 \cellx3964
\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth797 \cellx4761\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth845 \cellx5606\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth662 \cellx6268\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb
\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth672 \cellx6940\row }\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Number of transactions\cell }\pard 
\qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 6,681\cell 19,087\cell 24,067\cell 185.7\cell 26.1\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {
\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh297\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3187 \cellx3187\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth777 \cellx3964
\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth797 \cellx4761\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth845 \cellx5606\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth662 \cellx6268\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb
\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth672 \cellx6940\row }\trowd \trrh307\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 
\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3187 \cellx3187\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth777 \cellx3964\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth797 \cellx4761\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb
\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth845 \cellx5606\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth662 \cellx6268\clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth672 \cellx6940\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Bahrain index (points)\cell }\pard 
\qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 1,547.4\cell 2,310.1\cell 2,188.9\cell 49.3\cell -5.2\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {
\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh307\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3187 \cellx3187\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth777 \cellx3964
\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth797 \cellx4761\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth845 \cellx5606\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth662 \cellx6268\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb
\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth672 \cellx6940\row }\trowd \trrh302\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 
\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3187 \cellx3187\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth777 \cellx3964\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth797 \cellx4761\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb
\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth845 \cellx5606\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth662 \cellx6268\clvertalc\clbrdrt\brdrs\brdrw10 
\clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth672 \cellx6940\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Market capitalisation of listed\cell \cell \cell \cell 
\cell \cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh302\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh
\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3187 \cellx3187\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 
\clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth777 \cellx3964\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth797 \cellx4761\clvertalc\clbrdrt
\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth845 \cellx5606\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth662 
\cellx6268\clvertalc\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth672 \cellx6940\row }\trowd \trrh264\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr
\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3187 \cellx3187\clvertalc\clbrdrt\brdrnone \clbrdrl
\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth777 \cellx3964\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth797 \cellx4761
\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth845 \cellx5606\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 
\cltxlrtb\clftsWidth3\clwWidth662 \cellx6268\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth672 \cellx6940\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {
\fs22\lang1033\langfe1033\langnp1033 companies (BD billion)\cell }\pard \qr \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 1.9\cell 2.9\cell 2.6\cell 52.6\cell -10.3\cell }\pard 
\ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh264\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv
\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth3187 \cellx3187\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr
\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth777 \cellx3964\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth797 \cellx4761\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 
\clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth845 \cellx5606\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth662 \cellx6268\clvertalc\clbrdrt
\brdrnone \clbrdrl\brdrs\brdrw10 \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrs\brdrw10 \cltxlrtb\clftsWidth3\clwWidth672 \cellx6940\row }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl182\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Source: Bahrain Monetary Agency
\par 
\par 
\par }\pard\plain \s1\qj \li0\ri0\sl403\slmult0\keepn\nowidctlpar\faauto\outlinelevel0\rin0\lin0\itap0 \b\i\fs28\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {Other services
\par }\pard\plain \qj \li0\ri0\sl278\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 \fs24\lang2057\langfe1033\cgrid\langnp2057\langfenp1033 {\b\i\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl297\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Retailing
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 In a mo
ve to boost consumer confidence and meet the recommendations of the World Trade Organisation (WTO), the sole-agency system was abolished in 1998 - a radical step for a Gulf state, where the practice is common. It is now possible for any individual to impo
rt branded goods.
\par 
\par }{\b\i\fs22\lang1033\langfe1033\langnp1033 Tourism
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
The success of the retail sector is partly dependent on the number of tourist visitors, particularly from Saudi Arabia. Although Saudis have generally remained loyal to Bahrain as their favoured tourist spot, competition from Dub
ai for high spending European visitors is intense.
\par 
\par There were 63 hotels in Bahrain in 1998, of which seven were registered as five-star. The government has been encouraging the construction of another 20 hotels, at a cost of around $260m.
\par }\pard \qj \li0\ri0\sl499\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 
\par }\pard\plain \s1\qj \li0\ri0\sl403\slmult0\keepn\nowidctlpar\faauto\outlinelevel0\rin0\lin0\itap0 \b\i\fs28\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {Chapter 3
\par }\pard\plain \qj \li0\ri0\sl355\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 \fs24\lang2057\langfe1033\cgrid\langnp2057\langfenp1033 {\b\i\fs22\lang1033\langfe1033\langnp1033 Commercial entities and their regulation
\par }\pard \qj \li0\ri0\sl307\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Types }{\b\fs22\lang1033\langfe1033\langnp1033 of }{\b\i\fs22\lang1033\langfe1033\langnp1033 commercial entity
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 The principal statute governing the formation, registration and operations of
\par commercial enterprises are the Bahrain Commercial Companies Law 1975, which is amended from time to time. The law 
defines regulations for all types of companies and other commercial entities, including ownership, liquidation, attachments, mortgages, management organisations etc. The principal forms of commercial legal entities are as follows:
\par 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl331\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls11\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls11\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Public joint stock company (BSC),
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl331\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls11\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls11\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Closed joint stock company (BSC(c)), Private company with limited liability (WLL),
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sb115\sl216\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls11\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls11\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Exempt (offshore) company (EC), which may be either resident or non-resident
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl216\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls11\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls11\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 (brass-plate)
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl331\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls11\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls11\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Partnership (with unlimited liability), and
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl331\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls11\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls11\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Branch of foreign company (liability is unlimited). Representative office
\par }\pard \qj \li0\ri0\sl331\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl196\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 The basic characteristics of these entities are as follows:
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Public joint stock company (BSC): A shareholding company enjoying limited liability requiring the approval of the Ministry of Commerce, the Cabinet
 of Ministers and an Amiri Decree. BSC companies are normally incorporated to undertake a specific and major project. Minimum capital required is BD 500,000 and a minimum of 7 promoters is required. According to an amendment in 1999, acquisition and tradi
ng in shares of a BSC Company is open to Bahrainis and GCC nationals without limitation and foreign acquisition is allowed up to 49%. A corporate body may be a shareholder. BSC companies' shares are quoted on the Bahrain Stock Exchange.
\par }{\fs22\lang1033\langfe1033\langnp1033 .}{\fs22\lang1033\langfe1033\langnp1033 Closed joint stock company (BSC(c\'bb
: A joint stock company whose shares are not offered for public subscription. It may be established without an Amiri Decree and can trade in Bahrain. The minimum capital requirement is BD 200,000 ($530,000) with a minimum of 5 promoters. How
ever, the Ministry of Commerce reserves, as a matter of general policy, the right to determine a higher level of capital depending on the activities of the proposed entity. A corporate body may be a shareholder.
\par 
\par Private company with limited liability (WLL): A Bahraini WLL company may be established for any kind of industrial trading or services enterprise. Companies with a foreign partner are confined to industrial and services activities only.
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\tx4142\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 The minimum capital requirement is BD 10,000 ($26,500) and a maximum non\-
Bahraini participation of 49% is allowed.The minimum number of shareholders' required is 2 and a maximum of 50. A WLL company may be a shareholder in another entity.
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par 100% foreign-owned companies: The commercial legislation introduced in 1992 
provides for the registration of companies with 100% non-Bahraini ownership. These include companies setting up an industrial base, or services and distribution companies establishing regional headquarters in Bahrain.
\par 
\par }\pard \qj \li0\ri0\sl244\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Onshore companies registered in Bahrain with 100% foreign ownership may operate both within the domestic market and offshore.
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
Such companies may be registered either as companies with limited liability (WLL) or as closed joint stock companies BSC( c) which may be exempt from the requirement 
of the minimum level capital of normal BSC( c) companies. They may also hold board meetings and general meetings of shareholders outside Bahrain provided that the meetings otherwise comply with the provisions of the Bahrain Commercial Companies Law 1975.

\par 
\par Exempt company (EC): Offshore or EC companies take the form of closed joint stock companies which operate exclusively offshore Bahrain. Such companies may be established with 100% foreign ownership with a minimum of two shareholders.
\par 
\par }\pard \qj \li0\ri0\sl249\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Exempt Companies may be either Resident or Non-Resident.
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\fs22\lang1033\langfe1033\langnp1033 Exempt Company(offshore) Resident
\par }\pard \ql \li0\ri0\sl326\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Minimum capital required is BD 20,000. Minimum number of shareholders: 2 
\par Minimum number of directors: 2
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 One form of resident offshore companies is an Offshore Insurance Company. These
 are regulated by the provisions of the Bahrain Commercial Companies Law, 1975 as amended and the provisions of the Insurance Companies Law 1987, as amended. Minimum capital required for a general insurance company not carrying on the business of medical 
insurance is BD 100,000. A recent amendment has increased the capital for insurance companies carrying on the business of medical insurance to BD 500,000.
\par 
\par }\pard \qj \li0\ri0\sl259\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\fs22\lang1033\langfe1033\langnp1033 Exempt Company (offshore) Non- Resident (Brass-Plate)
\par 
\par }\pard \ql \li0\ri0\sl336\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Minimum capital required is BD 2,000.
\par A non-resident E.C, is not entitled to establish offices or base staff in Bahrain.
\par }\pard \qj \li0\ri0\sb124\sl211\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
Such companies should use either an accounting or law firm licensed to practice in Bahrain, as the registered office of the company in Bahrain.
\par A non-resident E.C. is not permitted to carry on banking, insurance or investment business.
\par 
\par }\pard \qj \li0\ri0\sl230\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\fs22\lang1033\langfe1033\langnp1033 Partnership: }{\fs22\lang1033\langfe1033\langnp1033 
A partnership may be registered where the partners hold joint responsibilities for partnership obligations. Partnerships normally offer professional or advisory services (e.g. accountancy
, engineering). They may be branches of partnerships already established abroad.
\par }\pard \qj \li0\ri0\sb120\sl230\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\fs22\lang1033\langfe1033\langnp1033 Branch: }{\fs22\lang1033\langfe1033\langnp1033 
A foreign company may establish a branch in Bahrain after receiving the permission of the Ministry of Commerce and appointing a Bahraini as its agent or sponsor. Such 
companies may be exempt from the requirement for a Bahraini sponsor if the branch office is the company's regional centre for business activities.
\par 
\par }\pard \qj \li0\ri0\sl230\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\fs22\lang1033\langfe1033\langnp1033 Representative Office: }{\fs22\lang1033\langfe1033\langnp1033 
A foreign company may also establish a representative office in Bahrain, whose activi
ties will be restricted to carrying on market research and rendering technical support. Such a representative office is not permitted to carry on any operations in Bahrain or abroad.
\par }\pard \qj \li0\ri0\sb120\sl230\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\fs22\lang1033\langfe1033\langnp1033 Commercial agency: }{\fs22\lang1033\langfe1033\langnp1033 For companies wishing to export to Bahrain, it is nece
ssary to appoint a local agent. The importer, however, must be in possession of a valid import permit.
\par 
\par }\pard \qj \li0\ri0\sl297\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Incorporation }{\b\i\fs22\lang1033\langfe1033\langnp1033 procedures
\par 
\par }\pard \qj \li0\ri0\sl244\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 The procedures for setting up a company is fairly simple and straightforward, although registration itself is compulsory for a
ll businesses in Bahrain.
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
Since this booklet is intended for potential foreign investors in Bahrain we shall not describe the formalities relating to public BSC companies. The following procedures apply broadly to the 100% foreign-owned WLL and BSC(c) com
panies, exempt companies EC, private companies WLLs, and foreign branches.
\par 
\par }\pard \ql \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
Faced with the need to compete with other Gulf centers, the Bahrain Ministry of Commerce has introduced a "fast track" procedure to facilitate registration of foreign companies which allows registration within 7 days following submission of:
\par 
\par }\pard \qj \li0\ri0\sl249\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Completed registration form, which includes the following:
\par 
\par }\pard \ql \li0\ri0\sl326\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Legal registration of head office,
\par Full name, date and place of birth, nationality of individual shareholders, Full address of Bahrain office,
\par Objects of the proposed entity to be established in Bahrain, and
\par Copy of the memorandum and articles of association;
\par Board resolution to establish a company/branch in Bahrain;
\par 
\par }\pard \qj \li0\ri0\sl326\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Proof of deposit of the share capital into a nominated bank account; and Registration fee.
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
To complete registration formalities, depending upon the type of company applicants should, within 90 days, provide some or all the following information.
\par 
\par }\pard \ql \li0\ri0\sl326\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Memorandum and Articles of Association;
\par List of main projects already carried out by the company; Capital for the Bahrain entity;
\par Most recent audited financial statements of the parent company;
\par }\pard \ql \li0\ri0\sb105\sl220\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Authorised and legalized letter from the parent company to the Ministry to
\par }\pard \qj \li0\ri0\sl220\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 guarantee full financial commitments to the Bahrain branch (for a branch);
\par 
\par }\pard \qj \li0\ri0\sl326\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Power of attorney and specimen signature of the nominated resident manager; Bank references, in case the shareholders are individuals and
\par }\pard \ql \li0\ri0\sb105\sl220\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Bahrain Monetary Agency or Ministry of Industry approval for financial
\par }\pard \qj \li0\ri0\sl220\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 institutions or manufacturing companies.
\par 
\par }\pard \qj \li0\ri0\sl307\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Cost }{\b\fs22\lang1033\langfe1033\langnp1033 of }{\b\i\fs22\lang1033\langfe1033\langnp1033 incorporation
\par 
\par }\pard \qj \li0\ri0\sl225\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 The incorporation process is handled by both accounting and law firms specialised in company formations and flotations.
\par 
\par }\pard \qj \li0\ri0\sl230\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 The cost of incorporation would primarily comprise of fees payable to the accountants or lawyers for draw
ing up the memorandum and articles of association and the registration fees (payable at the time of initial registration and annually thereafter).
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Depending on the nature of the company to be established the registration fees range between BD 100 - 3,000 
($ 265 - 8,000) per annum. However, for certain specialised activities such as banking, insurance and investment payable fees may be higher.
\par 
\par }\pard \qj \li0\ri0\sl230\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 The accountants or lawyers fees to form companies, depending on the nature and size }{\fs22\lang1033\langfe1033\langnp1033 
of companies, can range between BD 600 }{\fs22\lang1033\langfe1033\langnp1033 - }{\fs22\lang1033\langfe1033\langnp1033 3,500 ($ 1,600 }{\fs22\lang1033\langfe1033\langnp1033 - }{\fs22\lang1033\langfe1033\langnp1033 9,260). Translation and }{
\fs22\lang1033\langfe1033\langnp1033 other associated costs are expected to be minimal.
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
For exempt companies there would be an additional requirement to maintain a statutory deposit with the Bahrain Monetary Authority, on which interest is 
payable. Depending on the size and the nature of operations of the company proposed to be established, would range between BD 5,000 - 20,000 ($ 13,250 - 53,000).
\par 
\par }\pard \qj \li0\ri0\sl259\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Incentives and attractions
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 There are a number of incentives and attractions for investing in Bahrain and summarized below is a businessman's snapshot of the principal ones:

\par 
\par }\pard \qj \li0\ri0\sl336\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Assistance available from the Ministry of Industry for manufacturing industries: Identification of suitable industrial sites,
\par }\pard \ql \li0\ri0\sb134\sl201\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Assistance with feasibility studies including evaluation of local costs and
\par }\pard \qj \li0\ri0\sl201\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 market opportunities,
\par }\pard \ql \li0\ri0\sl336\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Provision of services and utilities,
\par 
\par }\pard \ql \li0\ri0\sl326\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Support for the construction of a plant or factory. 100% foreign ownership of a company is allowed; No personal, corporate or withholding taxes;

\par No indirect value added taxes and reasonable duties;
\par 
\par }\pard \qj \li0\ri0\sl254\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 No foreign currency restrictions
\par 
\par }\pard \qj \li0\ri0\sl331\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\fs22\lang1033\langfe1033\langnp1033 Full }{\fs22\lang1033\langfe1033\langnp1033 capital and profit repatriation;
\par }\pard \ql \li0\ri0\sb110\sl220\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Duty-free imports of machinery, raw materials
\par }\pard \qj \li0\ri0\sl220\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 for manufacture or re-export;
\par }\pard \ql \li0\ri0\sl331\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Cheap energy and fuel costs;
\par 
\par }\pard \qj \li0\ri0\sl326\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Administrative ease of company registration; an Stable convertible currency tied to the dollar.
\par }\pard \qj \li0\ri0\sl499\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 
\par }\pard\plain \s1\qj \li0\ri0\sl403\slmult0\keepn\nowidctlpar\faauto\outlinelevel0\rin0\lin0\itap0 \b\i\fs28\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {Chapter 4
\par }\pard\plain \qj \li0\ri0\sl355\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 \fs24\lang2057\langfe1033\cgrid\langnp2057\langfenp1033 {\b\i\fs22\lang1033\langfe1033\langnp1033 Taxation and regulations in Bahrain
\par }\pard \qj \li0\ri0\sl297\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 
\par Corporate and individual taxation
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Bahrain is a tax-free country there is no corporate or personal income in Bahrain and all profits; dividends or any other in
come is tax-free. The only exception is for companies engaged in petroleum extraction and refining. There are no exchange control regulations and accordingly there is no restriction on repatriation of capital, profits', royalties or wages and free movemen
t of foreign exchange is permitted.
\par 
\par There is no withholding tax, capital gains tax, gift tax or estate duty. Similarly, there is no tax on sales such as value added tax. Custom duties:
\par 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl321\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls10\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls10\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 zero tax on foodstuffs and non-luxuries; 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl321\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls10\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls10\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 7.5% on general luxuries;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl331\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls10\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls10\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 20% on cars;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl331\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls10\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls10\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 100% on cigarettes and tobacco; and 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl331\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls10\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls10\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 125% on alcoholic drinks.
\par }\pard \ql \li0\ri0\sl331\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
Duty free access to neighbouring GCC countries is possible from Bahrain. Exported local products should have minimum 40 percent content added locally, to qualify for duty-free statu
s. Unification of customs tariffs in the GCC is scheduled for implementation by 2005. There is no stamp duty and municipal rates (property tax), included in the electricity bills and payable monthly, are 10 percent of rents paid for all commercial and res
idential properties.
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Relevant Statutes
\par 
\par }{\fs22\lang1033\langfe1033\langnp1033 The principal government laws and regulations are:
\par }\pard \qj \li0\ri0\sl182\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par The Law of Commerce 1987\tab \tab \tab Regulates all commercial transactions.
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par Commercial Companies Law 1975\tab \tab For all types of commercial entity.
\par 
\par }\pard \qj \li0\ri0\sl249\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Insurance Companies Law 1987\tab \tab \tab For all insurance companies and organisations
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Monetary Agency Law 1973\tab \tab \tab For all banking business.
\par 
\par }\pard \qj \fi-4320\li4320\ri0\sl244\slmult0\nowidctlpar\faauto\rin0\lin4320\itap0 {\fs22\lang1033\langfe1033\langnp1033 Patents, Designs & Trade Marks Law 1955\tab 
Protection of all patents up to 20 years, 15 years for design and for trade and service marks without limit.
\par }\pard \qj \li0\ri0\sl244\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par Bankruptcy and Composition Law 1987\tab Adjudication of all insolvencies.
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Stock Exchange Law 1987\tab \tab \tab All share dealings of public joint stock companies and exempt companies.
\par 
\par Labour- Law for the Private Sector 1976\tab \tab Protection of workers rights.
\par 
\par }\pard \qj \fi-4320\li4320\ri0\sl192\slmult0\nowidctlpar\faauto\rin0\lin4320\itap0 {\fs22\lang1033\langfe1033\langnp1033 Social Insurance Law 1976\tab Social insurance including pensions, death and disability benefits, employment injuries etc.
\par }\pard \qj \li0\ri0\sl192\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
A compilation of 16 business laws of Bahrain in Arabic and English language including the above statutes may be obtained from KPMG Bahrain for BD 200 for the English language version and BD 155 for Arabic language.
\par 
\par }\pard\plain \s1\qj \li0\ri0\sl403\slmult0\keepn\nowidctlpar\faauto\outlinelevel0\rin0\lin0\itap0 \b\i\fs28\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {Chapter 5
\par }\pard\plain \qj \li0\ri0\sl288\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 \fs24\lang2057\langfe1033\cgrid\langnp2057\langfenp1033 {\b\i\fs22\lang1033\langfe1033\langnp1033 Other information }{\b\fs22\lang1033\langfe1033\langnp1033 on }{
\b\i\fs22\lang1033\langfe1033\langnp1033 Bahrain
\par 
\par }\pard \qj \li0\ri0\sl307\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Flight times }{\b\fs22\lang1033\langfe1033\langnp1033 to }{\b\i\fs22\lang1033\langfe1033\langnp1033 major cities from Bahrain
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Bahrain is well served by a number of airlines. Here are the flying hours to some major cities:
\par 
\par }\trowd \trrh194\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1302 \cellx1302\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2435 \cellx3737\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1491 \cellx5228\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1884 \cellx7112\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {
\fs22\lang1033\langfe1033\langnp1033 Abu Dhabi\cell 1 hour 5 minutes\cell Jeddah\cell 2 hours 25 minutes\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh194\trbrdrt
\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1302 \cellx1302\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2435 \cellx3737\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1491 \cellx5228\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1884 \cellx7112\row }\trowd \trrh247\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb
\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1302 \cellx1302\clvertalc\clbrdrt\brdrnone 
\clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2435 \cellx3737\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1491 \cellx5228\clvertalc\clbrdrt\brdrnone 
\clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1884 \cellx7112\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Dhahran\cell 10 minutes\cell Kuwait\cell 1 hour\cell }\pard 
\ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh247\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv
\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1302 \cellx1302\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth2435 \cellx3737\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1491 \cellx5228\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1884 \cellx7112\row }\trowd \trrh243\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl
\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1302 \cellx1302\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2435 \cellx3737\clvertalc\clbrdrt\brdrnone \clbrdrl
\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1491 \cellx5228\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1884 \cellx7112\pard 
\ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Doha\cell 50 minutes\cell Muscat\cell 1 hour 35 minutes\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {
\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh243\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone 
\clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1302 \cellx1302\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2435 \cellx3737\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone 
\clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1491 \cellx5228\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1884 \cellx7112\row }\trowd \trrh384\trbrdrt\brdrs\brdrw10 
\trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1302 \cellx1302
\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2435 \cellx3737\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1491 \cellx5228
\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1884 \cellx7112\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Dubai\cell 1 hour 10 minutes\cell 
Riyadh\cell 1 hour 10 minutes\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh384\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr
\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1302 \cellx1302\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb
\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2435 \cellx3737\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1491 \cellx5228\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb
\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1884 \cellx7112\row }\trowd \trrh330\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc
\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1302 \cellx1302\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2435 \cellx3737\clvertalc
\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1491 \cellx5228\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1884 \cellx7112\pard 
\ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Amman\cell 2 hours 50 minutes\cell Cairo\cell 3 hours 45 minutes\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {
\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh330\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone 
\clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1302 \cellx1302\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2435 \cellx3737\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone 
\clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1491 \cellx5228\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1884 \cellx7112\row }\trowd \trrh379\trbrdrt\brdrs\brdrw10 
\trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1302 \cellx1302
\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2435 \cellx3737\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1491 \cellx5228
\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1884 \cellx7112\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Beirut\cell 3 hours 10 minutes\cell 
Larnaca\cell 3 hours 25 minutes\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh379\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr
\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1302 \cellx1302\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb
\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2435 \cellx3737\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1491 \cellx5228\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb
\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1884 \cellx7112\row }\trowd \trrh364\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc
\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1302 \cellx1302\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2435 \cellx3737\clvertalc
\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1491 \cellx5228\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1884 \cellx7112\pard 
\ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Frankfurt\cell 6 hours 50 minutes\cell Paris\cell 7 hours 20 minutes\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {
\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh364\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone 
\clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1302 \cellx1302\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2435 \cellx3737\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone 
\clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1491 \cellx5228\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1884 \cellx7112\row }\pard 
\ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 London\cell 7 hours 25 minutes\cell Zurich\cell 7 hours 10 minutes\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {
\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh364\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone 
\clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1302 \cellx1302\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2435 \cellx3737\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone 
\clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1491 \cellx5228\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1884 \cellx7112\row }\trowd \trrh384\trbrdrt\brdrs\brdrw10 
\trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1302 \cellx1302
\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2435 \cellx3737\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1491 \cellx5228
\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1884 \cellx7112\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Bangkok\cell 6 hours 40 minutes
\cell Karachi\cell 2 hours 30 minutes\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh384\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr
\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1302 \cellx1302\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb
\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2435 \cellx3737\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1491 \cellx5228\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb
\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1884 \cellx7112\row }\trowd \trrh243\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc
\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1302 \cellx1302\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2435 \cellx3737\clvertalc
\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1491 \cellx5228\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1884 \cellx7112\pard 
\ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Bombay\cell 3 hours 15 minutes\cell Manila\cell 8 hours 50 minutes\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {
\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh243\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone 
\clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1302 \cellx1302\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2435 \cellx3737\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone 
\clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1491 \cellx5228\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1884 \cellx7112\row }\trowd \trrh238\trbrdrt\brdrs\brdrw10 
\trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1302 \cellx1302
\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2435 \cellx3737\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1491 \cellx5228
\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1884 \cellx7112\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Delhi\cell 3 hours 35 minutes\cell 
Singapore\cell 7 hours 45 minutes\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh238\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr
\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1302 \cellx1302\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb
\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2435 \cellx3737\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1491 \cellx5228\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb
\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1884 \cellx7112\row }\trowd \trrh223\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc
\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1302 \cellx1302\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2435 \cellx3737\clvertalc
\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1491 \cellx5228\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1884 \cellx7112\pard 
\ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0 {\fs22\lang1033\langfe1033\langnp1033 Hong Kong\cell 7 hours\cell Tokyo\cell 10 hours 35 minutes\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {
\fs22\lang1033\langfe1033\langnp1033 \trowd \trrh223\trbrdrt\brdrs\brdrw10 \trbrdrl\brdrs\brdrw10 \trbrdrb\brdrs\brdrw10 \trbrdrr\brdrs\brdrw10 \trbrdrh\brdrs\brdrw10 \trbrdrv\brdrs\brdrw10 \trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone 
\clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1302 \cellx1302\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2435 \cellx3737\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone 
\clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1491 \cellx5228\clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1884 \cellx7112\row }\pard 
\ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl355\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Entry and visa requirements
\par 
\par }\pard \qj \li0\ri0\sl297\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Entry and visa requirements are }{\b\fs22\lang1033\langfe1033\langnp1033 as }{\b\i\fs22\lang1033\langfe1033\langnp1033 follows:
\par 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl220\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls12\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls12\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Visitors to Bahrain require entry visas unless they hold passports of one of the GCC states. Visas are available from all embassies and consulates.
\par }\pard \ql \li0\ri0\sl225\slmult0\nowidctlpar{\*\pn \pnlvlcont\ilvl0\ls0\pnrnot0\pndec }\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl225\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls12\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls12\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 72-hour transit visas are available at Bahrain International Airport, ports or on the King Fahad Causeway. Extensions can be arranged inside Bahrain.
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sb115\sl225\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls12\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls12\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 7-day visitors' visas may be obtained by businessmen, delegat
es, families and dependants from European countries, USA, Canada, Japan, Australia and New Zealand. Tourist groups can arrange 7-day visas through their travel agent.
\par }\pard \qj \li0\ri0\sl249\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }{\b\i\fs22\lang1033\langfe1033\langnp1033 Commercial hours
\par 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl244\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls13\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls13\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 The working week, number of hours worked and timing vary considerably. Here are the main commercial hours:
\par }\pard \qj \li0\ri0\sl244\slmult0\nowidctlpar{\*\pn \pnlvlcont\ilvl0\ls0\pnrnot0\pndec }\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl336\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls13\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls13\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Government offices: 07.00-14.15 Saturday to Wednesday.
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sb110\sl225\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls13\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls13\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Commercial organisations: Hours vary but 08.00-15.30 or 08.00-13.00 and 15.00-17.30 is common. Five-day weeks are becoming favored though many establishments still work Saturday to Thursday.
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sb110\sl225\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls13\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls13\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Shops and supermarkets: Many open 08.30-12.30, 15.30-19.30 six days a week. Markets and shops open Friday mornings (times vary).
\par }\pard \qj \li0\ri0\sl225\slmult0\nowidctlpar{\*\pn \pnlvlcont\ilvl0\ls0\pnrnot0\pndec }\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl225\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls13\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls13\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Commercial banks: }{\fs22\lang1033\langfe1033\langnp1033 07.30-12.00 }{\fs22\lang1033\langfe1033\langnp1033 Saturday to Wednesday, and for many }{\fs22\lang1033\langfe1033\langnp1033 branches, 15.30-17.30 on the sam
e afternoons, 07.30-11.00 Thursdays.
\par }\pard \qj \li0\ri0\sl225\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
During the holy month of Ramadhan, which precedes Eid-AI-Fitr, when Moslems fast during daylight hours business life slows measurably and Moslem employees are allowed shorter working hours than normal.
\par 
\par }\pard \qj \li0\ri0\sl297\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Official holidays
\par 
\par }\pard \ql \li0\ri0\sl273\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 New Year's Day \tab 1 January
\par Eid-AI-Fitra \tab \tab (1-3 Shawal)
\par Eid-AI-Adha\tab \tab (10-12 Dhal AI-Hijja)
\par Islamic New Year \tab (1 Muharram)
\par Ashoora\tab \tab (9-10 Muharram)
\par The Prophet's Birthday \tab (12 Rabi AI-Awal)
\par National Day\tab \tab 16 and 17 December
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Moslem holidays are based on the Islamic calendar, which is lunar. Moslem holidays advance by approximately ten days per Gregorian year.
\par 
\par }\pard \qj \li0\ri0\sl254\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 The Gregorian calendar is used almost universally for business and other purposes.
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Media
\par 
\par }\pard \qj \li0\ri0\sl244\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Bahrain has Arabic and English-language television channel
s, broadcasting _ mixture of news, international programs, films and other material. Additionally English channels can be received from Saudi Arabia, Qatar, Kuwait, Dubai and Abu Dhabi.
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Presently there is a 24-hour transmission of BBC World Service Televi
sion and al other satellite television channels can be directly received by satellite dishes.
\par 
\par All major international radio stations can be received. English language newspapers both locally published and from the DAE, are widely circulated and all international newspapers, magazines and books are available immediately following publication
\par }\pard \qj \li0\ri0\sl499\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 
\par \page 
\par }\pard\plain \s1\qj \li0\ri0\sl403\slmult0\keepn\nowidctlpar\faauto\outlinelevel0\rin0\lin0\itap0 \b\i\fs28\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {Chapter 6
\par }\pard\plain \qj \li0\ri0\sl288\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 \fs24\lang2057\langfe1033\cgrid\langnp2057\langfenp1033 {\b\i\fs22\lang1033\langfe1033\langnp1033 KPMG Bahrain
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 An overview
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 CPMG Bahrain, is a member firm of KPMG, one of the world's largest accounting and consulting firms. The practice is divided into
 six functional departments:
\par 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl331\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls14\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls14\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Audit and Accounting (English and Arabic); 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl331\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls14\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls14\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Management Consulting;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl326\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls14\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls14\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Financial Advisory Services; 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl326\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls14\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls14\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Tax and Legal;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl326\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls14\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls14\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Share Registration; and 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl326\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls14\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls14\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Investigation and Insolvency.
\par }\pard \ql \li0\ri0\sl326\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Each department is responsible for matters relating to pro
fessional performance, technical competence and practice review. The auditing and consulting departments receive KPMG international training of personnel and use KPMG methodologies and techniques.
\par 
\par KPMG is the largest firm of accountants, auditors and consultants in Bahrain with a }{\fs22\lang1033\langfe1033\langnp1033 )personnel strength at 1 January }{\fs22\lang1033\langfe1033\langnp1033 2000 }{\fs22\lang1033\langfe1033\langnp1033 of:
\par 
\par }\pard \ql \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Partners\tab \tab \tab \tab \tab \tab 8
\par Professional staff \tab \tab \tab \tab \tab 115
\par Administrative and support staff\tab \tab \tab \tab 31
\par Total\tab \tab \tab \tab \tab \tab \tab 154
\par }\pard \qj \li0\ri0\sl254\slmult0\nowidctlpar\tx182\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 \tab 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 In the Middle East, KPMG is represented in 12 countries with a personnel strength of o
ver 1,300. In response to a client's needs, we can contact any KPMG office worldwide as part of our global network.
\par 
\par KPMG is a unique organisation that provides a cohesive structure for our Firm, unifying more than 7,000 partners and 103,000 personnel in 1
82 countries. Our network of international offices provides services to local companies and assures our multinational and other clients that the same high-quality services are available to them on six continents.
\par 
\par }\pard \qj \li0\ri0\sl254\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Services for international investors
\par 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 The following is a summary of the range of services we can offer to potential international investors in Bahrain.
\par 
\par }\pard \qj \li0\ri0\sl307\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Planning the investment
\par 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl220\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls15\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls15\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Feasibility studies, including market surveys in Bahrain and the Middle East, competitive analysis, distribution methods and alternatives;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl326\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls15\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls15\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Establishing investment objectives and strategy;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl326\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls15\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls15\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Analysing financial feasibility and modes of financing;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl326\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls15\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls15\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Assessing potential for, and feasibility of, mergers or joint ventures; Assisting in the formation and registration of any type of c
ompany. Advising on investment in Bahrain business and real estate; Providing location-planning studies for new facilities;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl326\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls15\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls15\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Developing short and long-range strategic plans;
\par }\pard \ql \li0\ri0\sl326\slmult0\nowidctlpar{\*\pn \pnlvlcont\ilvl0\ls0\pnrnot0\pndec }\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl249\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls15\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls15\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Conducting a businessman's review or acquisition audit.
\par }\pard \qj \li0\ri0\sl249\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl312\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Organising the operation
\par 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl331\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls16\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls16\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Establishing a business or organisation plan; Human resources;
\par }\pard \qj \li0\ri0\sl331\slmult0\nowidctlpar{\*\pn \pnlvlcont\ilvl0\ls0\pnrnot0\pndec }\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl321\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls16\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls16\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Key personnel requirements }{\fs22\lang1033\langfe1033\langnp1033 - }{\fs22\lang1033\langfe1033\langnp1033 job descriptions, executive search and selection etc; 
\par }\pard \qj \li0\ri0\sl321\slmult0\nowidctlpar{\*\pn \pnlvlcont\ilvl0\ls0\pnrnot0\pndec }\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl321\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls16\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls16\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Executive compensation }{\fs22\lang1033\langfe1033\langnp1033 - }{\fs22\lang1033\langfe1033\langnp1033 salary surveys, designing employee benefit programs etc;
\par }\pard \qj \li0\ri0\sl321\slmult0\nowidctlpar{\*\pn \pnlvlcont\ilvl0\ls0\pnrnot0\pndec }\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sl326\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls16\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls16\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Developing management and accounting control-systems/controls/procedures; and
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \qj \fi-340\li340\ri0\sb100\sl225\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls16\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls16\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Information technology review, selection and implementation of micro to mainframe computer systems.
\par }\pard \qj \li0\ri0\sb100\sl225\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl307\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Maintaining operations
\par 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl326\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls17\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls17\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Public flotation, share registration and secretarial support; 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl326\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls17\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls17\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Operations reviews and improvement studies;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl326\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls17\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls17\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Obtaining new bank facilities or funds for expansion; 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl326\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls17\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls17\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Financial statements compilation, review, and audit; 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl326\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls17\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls17\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Design and conduct of effective internal audits;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl326\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls17\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls17\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Preparing management reports;
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl326\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls17\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls17\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Conduct investigations by direct or Court appointment; and 
\par {\pntext\pard\plain\f14\fs18 \hich\af14\dbch\af0\loch\f14 n\tab}}\pard \ql \fi-340\li340\ri0\sl326\slmult0\nowidctlpar{\*\pn \pnlvlblt\ilvl0\ls17\pnrnot0\pnf14\pnfs18\pnstart1\pnindent340\pnhang{\pntxtb n}}\faauto\ls17\rin0\lin340\itap0 {
\fs22\lang1033\langfe1033\langnp1033 Arbitration of disputes and, if required, acting as legal custodians.
\par }\pard \ql \li0\ri0\sl326\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl254\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\i\fs22\lang1033\langfe1033\langnp1033 Contact information
\par 
\par }\pard \ql \li0\ri0\sl244\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 KPMG, PO Box 710, Manama, Bahrain
\par Address: 5th Floor, Chamber of Commerce Building, Manama
\par 
\par }\pard \qj \li0\ri0\sl249\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Telephone:\tab \tab +973 224807
\par 
\par }{\fs22\lang1033\langfe1033\langnp1033 Contact partner: \tab Jamal Fakhro
\par 
\par }\pard \qj \li0\ri0\sl192\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 e- mail\tab \tab \tab kpmgbh@batelco.com.bh
\par 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Telefax:\tab \tab +973-227443 
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl254\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 \page 
\par }{\b\i\fs22\lang1033\langfe1033\langnp1033 Service Worldwide
\par 
\par }{\fs22\lang1033\langfe1033\langnp1033 For more information please contact your local KPMG office or:
\par 
\par }\pard \ql \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 KPMG International Office PO Box 74111
\par 1070 BC Amsterdam
\par 
\par }\pard \qj \li0\ri0\sl196\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\i\fs22\lang1033\langfe1033\langnp1033 Street Address
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Burg. Rijnderslaan 20 1185 MC Amstelveen Netherlands
\par 
\par }{\fs22\lang1033\langfe1033\langnp1033 Telephone:\tab }{\fs22\lang1033\langfe1033\langnp1033 31 (20) 656 6700 
\par }{\fs22\lang1033\langfe1033\langnp1033 Telefax:\tab }{\fs22\lang1033\langfe1033\langnp1033 31 (20) 656 }{\fs22\lang1033\langfe1033\langnp1033 6777 
\par }\pard \qj \fi720\li720\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin720\itap0 {\fs22\lang1033\langfe1033\langnp1033 31 (20) 656 6778}{\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard \ql \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Tax: \tab \tab 31 (20) 656 6888
\par Website\tab www.kpmg.com
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 \sect }\sectd \linex0\sectdefaultcl \pard\plain \qj \li0\ri0\sl216\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 
\fs24\lang2057\langfe1033\cgrid\langnp2057\langfenp1033 {\b\i\fs22\lang1033\langfe1033\langnp1033 COUNTRIES IN  WHICH KPMG OPERATES
\par 
\par }\pard\plain \s7\ql \li0\ri0\sl235\slmult0\keepn\nowidctlpar\faauto\outlinelevel6\rin0\lin0\itap0 \b\fs28\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {AFRICA
\par }\pard\plain \ql \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 \fs24\lang2057\langfe1033\cgrid\langnp2057\langfenp1033 {\fs22\lang1033\langfe1033\langnp1033 Algeria
\par Angola
\par Benin
\par Botswana
\par Burkina Faso (Upper Volta) 
\par Burundi
\par Cameron
\par Central African Republic Chad
\par Congo
\par Congo Democratic Republic)
\par Djibouti
\par Eritrea
\par Ethiopia
\par Gabon
\par Gambia
\par Ghana
\par Guinea
\par Ivory Coat (Cote de Ivoire) 
\par Kenya
\par Lesotho
\par Libya
\par Madagascar
\par Malawi
\par Mali
\par Mauritius
\par Morocco
\par Mozambique
\par Namibia
\par Niger
\par Nigeria
\par Reunion Island
\par Rwanda
\par Senegal
\par Seychelles
\par Sierra Leone
\par Somalia
\par South Africa
\par }\pard \ql \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Sudan 
\par Swaziland 
\par Tanzania 
\par Togo 
\par Tonga 
\par Tunisia 
\par Uganda 
\par Zaire 
\par Zambia 
\par Zimbabwe
\par \page 
\par }\pard\plain \s6\ql \li0\ri0\sl235\slmult0\keepn\nowidctlpar\faauto\outlinelevel5\rin0\lin0\itap0 \fs28\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\b\caps Asia Pacific/Australasia 
\par }\pard\plain \ql \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 \fs24\lang2057\langfe1033\cgrid\langnp2057\langfenp1033 {\fs22\lang1033\langfe1033\langnp1033 Australia 
\par Azerbaijan 
\par Bangladesh 
\par Brunei
\par Cambodia
\par China
\par Cook Islands
\par Fiji
\par French Polynesia 
\par Hong Kong
\par India
\par Indonesia
\par Japan 
\par Kazakhstan 
\par Korea
\par Laos
\par Macau
\par Malaysia 
\par Maldives
\par New Caledonia 
\par New Zealand 
\par Pakistan
\par Papua New Guinea 
\par Philippines 
\par Singapore
\par Sri Lanka
\par Taiwan
\par }\pard \ql \fi-720\li720\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin720\itap0 {\fs22\lang1033\langfe1033\langnp1033 Tajekistan 
\par Thailand 
\par Vanuatu 
\par Vietnam
\par }\pard \ql \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 
\par }\pard\plain \s7\ql \li0\ri0\sl240\slmult0\keepn\nowidctlpar\faauto\outlinelevel6\rin0\lin0\itap0 \b\fs28\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {EUROPE 
\par }\pard\plain \ql \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 \fs24\lang2057\langfe1033\cgrid\langnp2057\langfenp1033 {\fs22\lang1033\langfe1033\langnp1033 Albania 
\par Austria
\par }\pard \qj \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Armenia 
\par Belgium 
\par Bulgaria
\par }\pard \ql \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Channel Island 
\par Croatia
\par Cyprus (Republic of) 
\par Cyprus (Northern) 
\par Czech Republic 
\par Denmark
\par Estonia
\par Finland
\par France
\par Germany
\par Gibraltar
\par Greece
\par Hungary
\par Iceland
\par Ireland
\par Isle of Man
\par Italy
\par Latvia 
\par Liechtenstein 
\par Lithuania 
\par uxembourg 
\par Macedonia
\par Malta
\par Netherlands 
\par Norway
\par Poland
\par Portugal
\par Romania
\par Russia
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Slovakia 
\par Slovenia 
\par Spain
\par }\pard \ql \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Sweden 
\par Switzerland 
\par Turkey
\par United Kingdom 
\par Yugoslavia
\par 
\par }\pard\plain \s7\ql \li0\ri0\sl240\slmult0\keepn\nowidctlpar\faauto\outlinelevel6\rin0\lin0\itap0 \b\fs28\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {CENTRAL AND SOUTH AMERICA 
\par }\pard\plain \ql \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 \fs24\lang2057\langfe1033\cgrid\langnp2057\langfenp1033 {\fs22\lang1033\langfe1033\langnp1033 Antigua
\par Argentina
\par Belize
\par Bolivia
\par Brazil
\par Chile
\par Colombia
\par Costa Rica
\par Ecuador
\par El Salvador 
\par Guatemala 
\par Honduras
\par }\pard \ql \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Nicaragua
\par Panama
\par Paraguay
\par Peru
\par St. Vincent & Grenadines 
\par Ukraine
\par Uruguay
\par Venezuela
\par 
\par }\pard\plain \s7\ql \li0\ri0\sl240\slmult0\keepn\nowidctlpar\faauto\outlinelevel6\rin0\lin0\itap0 \b\fs28\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {MIDDLE EAST 
\par }\pard\plain \ql \li0\ri0\sl240\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 \fs24\lang2057\langfe1033\cgrid\langnp2057\langfenp1033 {\fs22\lang1033\langfe1033\langnp1033 Bahrain
\par Egypt
\par Iran
\par Jordan
\par Kuwait
\par Lebanon
\par Oman
\par Palestine
\par Qatar
\par Saudi Arabia
\par Syria
\par United Arab Emirates 
\par Yemen
\par 
\par }\pard\plain \s6\ql \li0\ri0\sl235\slmult0\keepn\nowidctlpar\faauto\outlinelevel5\rin0\lin0\itap0 \fs28\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\b NORTH AMERICA AND CARIBBEAN
\par }\pard\plain \ql \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 \fs24\lang2057\langfe1033\cgrid\langnp2057\langfenp1033 {\fs22\lang1033\langfe1033\langnp1033 Anguilla
\par Aruba
\par }\pard \qj \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Bahamas 
\par Barbados 
\par Bermuda 
\par Canada
\par }\pard \ql \li0\ri0\sl235\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 {\fs22\lang1033\langfe1033\langnp1033 Cayman Islands 
\par Dominican Republic 
\par Haiti
\par Jamaica
\par Mexico
\par Puerto Rico
\par St. Maarten
\par Trinidad & Tabago 
\par Turks and Caicos Islands 
\par United State of America 
\par Virgin Islands (British) 
\par Virgin Islands (US)\sect }\sectd \linex0\sectdefaultcl \pard\plain \qj \li0\ri0\sl403\slmult0\nowidctlpar\faauto\rin0\lin0\itap0 \fs24\lang2057\langfe1033\cgrid\langnp2057\langfenp1033 {\fs22\lang1033\langfe1033\langnp1033 
\par }}