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Bahrain Implements Government Projects Worth $1.9 Bn During Q1 of 2018

A scene in Bahrain’s capital, Manama. Asharq Al-Awsat
A scene in Bahrain’s capital, Manama. Asharq Al-Awsat
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Bahrain Implements Government Projects Worth $1.9 Bn During Q1 of 2018

A scene in Bahrain’s capital, Manama. Asharq Al-Awsat
A scene in Bahrain’s capital, Manama. Asharq Al-Awsat

Bahrain has established investment projects worth $1.9 billion in various sectors during the first quarter of 2018, with oil, gas, infrastructure and health sectors topping these projects.

Oil and gas sectors accounted for 32 percent of the total value of these projects at $623 million.

The momentum of investment in this sector was mainly due to the construction and expansion project of the Bahrain Petroleum Company (Bapco) refinery through which Bahrain plans to raise its production capacity in oil refining from 260 thousand barrels per day (bpd) to about 360 thousand bpd.

The increase in production capacity comes in line with the expansion of the oil pipeline linking Saudi Arabia to the Kingdom of Bahrain, which will increase its capacity to 350,000 bpd.

Second came the infrastructure sector with 31.9 percent of the total value of the established projects, which amounted to $615 million. The third place was taken by the health sector with 22 percent and a total value of about $440 million.

Aviation sector, for its part, accounted for about seven percent of the projects implemented during the first quarter of 2018, with aviation contracts amounting to $136 million.

Bahrain’s government also continues to invest in the housing sector by accelerating steps to reduce the waiting period of the Bahraini citizen between submitting the application and receiving the property.

The percentage of government investments in this sector is about 1.5 percent, at more than $28 million.

This was followed by the information sector with a rate of 1.2 percent, with contracts worth about $24 million, then the youth and sports sector by 1.1 percent and the volume of investment contracts of about $21 million.

Accordingly, 190 projects were implemented in the infrastructure sector, 79 projects in the oil and gas sector, 53 projects in the aviation sector and 38 projects in the health sector.

These were followed by the education and youth sector with 24 projects, 12 projects were implemented in the investment sector and five projects in the housing sector.

The size of these investments reflects the extent of government interest in enhancing the Kingdom's infrastructure, which holds the largest share of the value of the projects.

These investments are mainly related to the infrastructure projects the government is working on in cooperation with the private sector.

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Tourism Minister: Saudi Arabia Sees 27% Increase in Incoming Tourists in 9 Months

Saudi Minister of Tourism Ahmed Al Khateeb speaks at the 2025 Budget Forum in Riyadh. (SPA)
Saudi Minister of Tourism Ahmed Al Khateeb speaks at the 2025 Budget Forum in Riyadh. (SPA)
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Tourism Minister: Saudi Arabia Sees 27% Increase in Incoming Tourists in 9 Months

Saudi Minister of Tourism Ahmed Al Khateeb speaks at the 2025 Budget Forum in Riyadh. (SPA)
Saudi Minister of Tourism Ahmed Al Khateeb speaks at the 2025 Budget Forum in Riyadh. (SPA)

Saudi Arabia's tourism sector continues to achieve remarkable growth, as incoming tourist numbers surged by 27% in the first nine months of 2024 compared to a 14% increase during the same period last year, said Minister of Tourism Ahmed Al Khateeb on Wednesday.

Speaking at the 2025 Budget Forum in Riyadh, Al Khateeb underscored the sector's significant progress toward realizing the goals of Vision 2030.

International tourist arrivals for recreational purposes increased by an extraordinary 600% in 2023 from 2018, he revealed, adding that the rise has been complemented by a boost in visitors arriving for religious purposes, with the Kingdom encouraging such visitors to explore other cities to experience natural and archaeological sites.

The minister said rural tourism has also gained popularity, with increasing demand reported across the Kingdom's diverse regions. By the end of 2023, tourism's contribution to gross domestic product (GDP) reached 5%, and efforts are underway to achieve a 10% contribution by 2030.

Al Khateeb highlighted the economic impact of the sector, noting a surplus of over SAR 41 billion in the balance of payments during the first half of 2024, compared to SAR 48.1 billion for the entirety of 2023. This marks a significant turnaround from 2018 when the balance recorded a deficit of SAR 10 billion, said the minister.

Employment in the tourism sector has also grown substantially, with the number of jobs increasing from 750,000 to 960,000, and localization within the hospitality sector reaching 35%, he added.

The Ministry of Tourism, under the leadership of Prince Mohammed bin Salman, Crown Prince and Prime Minister, is investing heavily in training and developing local talent.

The ministry allocates an annual budget of SAR 375 million to support the qualification and training of up to 100,000 Saudis, including over 10,000 opportunities at world-class institutes, enabling them to take on leadership roles within the industry, Al Khateeb stressed.