Indigenous Publishing Market Profile Of Bahrain Finance Essay

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Bahrain or Kingdom of Bahrain is a island country in the Persian Gulf. This island
country is bordered to the west by Saudi Arabia and to the Southeast by Qatar. A
link, Qatar Bahrain Causeway is expected to connect Qatar and Bahrain to create the
longest fixed link in the globe. The country is mostly known to produce pearls and
oil. Several publishing and trading structures are also found here including Bahrain
Financial Harbor, Bahrain World Trade Center and finally the many skyscrapers
found here. It is common in this region that most of the countries here are rich in oil
but poor in water and this brings to light the advantage of the Bahrain.
This country spends about $630 million every year on its military and this is about
20% of its current expenditure. Its defense force is has about 12000 personnel and is
composed of the air force, army and navy. Most of these revenues come from their
publishing business as it is one of the promising industries of revenue generation.

The government spends around $630 million annually on the military, about 20% of
current expenditures. The parliamentary process has produced spirited debate over
government spending, particularly defense spending, but no actual reductions. The
country has in the recent days made major changes to upgrade its defense systems
and also modernize it.
This economy was the first among the Gulf economies to discover oil and its reserves
are expected to run for the next 1o to 15 years. The country has in the past struggled
to diversify its economy and it has managed to stabilize its production to about 40,
000 barrels everyday. Income from oil and natural gas form 10% of its GDP and this
provide about 75% of the government income. The petroleum company refinery is
owned by the state and its capacity is 260,000 b/d.
Bahrain is business and financial center and it operates both offshore and onshore.
Its financial sector is the largest contributor to GDP. Over three hundred offshore
banking units and representative offices are located here in Bahrain. This country
has made efforts to be the leading Islamic finance centre among the Arab world. The

country has 32 Islamic banks consisting of both financial, investment and leasing
banks as well as what is known as Takaful
` Or else Islamic insurance companies.
The country has been striving to come up with service industries such as information
technology, education, publishing and healthcare. The government has invested the
revenue got from the oil to build a high-tech infrastructure in transport and
communications. Its Airport is one of the busiest in the Gulf since it is one of the
busiest in the area. With an aim of boosting its competitiveness as a regional center,
the country is building new ports.
Tourism is also an important aspect of the country's economy. The government is
working on large projects aimed at promoting tourism. It also has got regional
tourism which is an important source of the country's source of money. It is however
clear that the country gets most of its income from the oil industry.
Like many countries, this small country is striving much to put up with the modern
day technology. It is also investing in technology to fit in the digital world today. This
is more so in communications and transport. Most of the things taught in the schools
have connections with technology. There is the Bahrain Information Technology
Society founded in the year 1981 and its purpose is to uphold the information
technology in the country. It works to educate the public together with the students
about information technology. This body provides a forum for information
interchange in the present and also the future. This body educates the people
through seminars, periodicals, meetings, conferences and also electronic news
letters.
Many government and private organizations have been fitted with the latest
technology gadgets. Computers are found in most offices and paper work has been
reduced to the minimum. Communication has been made easy through the
introduction of the internet. People can hold meetings through the internet. Students
on the other hand are able to learn more about the outside world through the use of
the internet. They are also able to communicate with students from all over the world
through the internet and this has made it easy for them especially when they are
carrying out research about other places that they have not visited.
Bahrain prides itself as a world leader in terms of business. The country has invested
a lot of resources to ensure business is carried out in a friendly environment and at
the same time in competition with other countries. In order to tap into both local and

international publishing markets, Bahraini has developed an attitude which draws

investors and visitors to their country in large numbers. Starting with warm greetings
everybody from all over the world is welcomed to Bahrain.
The local business setup has much to offer in terms of a wide range of products.
These have attracted many foreign investors and a rapid growth is being experienced
due to modern infrastructure and technological advancements. Bahrain is placed on
top as a business partner in the world, ranking at number 13, due to many freedoms
exercised in course of trade. Such include economic, monetary, fiscal and business
freedoms coupled with lack of corporate and income taxes. In the whole Gulf region,
Bahrain ranks highly in relation to its neighbors thus making it more competitive.
The country is very keen in following and respecting law and this has seen it take the
front line in terms of doing business. Apart from acting as a gateway to gulf, Bahrain
also projects the most stable publishing market base in the region. In addition, the
workforce is drawn from the most skilled and educated individuals. The government
also is actively involved to curb corruption and bureaucracy since these factors can
contribute negative to businesses.

Bahrain has been able to compete internationally with countries as China, France,
UK, and India by avoiding red tape. A legal framework is implemented by the Central
Bank of Bahrain which oversees regulation, licensing, transparency and efficiency in
all business operations.
In terms of marketing and promotion, Bahrain has placed emphasis on transport and
communication infrastructure to ensure this is achieved. Land, rail, air and sea
transport systems are in place with some being the best in the region. The living cost
is low as is the business operating cost. In comparison to its neighbors, Bahrain has
the lowest cost figure in all aspects from food, to rent, to taxes.
The distribution of the publishing market is relatively well developed especially when
comparing the situation with the other countries in the same region. Publishing
companies and universities in Bahrain enjoy their own distribution channels inside
Bahrain and also abroad. Some universities and schools in this country also keep
large stocks at various locations and libraries based on their marketing strategies or
their target audience. Generally, distribution and marketing strategies go hand in
hand. Publishers are located in different parts of the major towns and in the
university premises and use different methods to reach wider audiences. More often

than not, the publishers have bookstore at the university companies premises where
they sell the books they publish. Libraries are also stocked with most of the books
published by that particular university. They however establish more sale points
distributed all over the country where orders may take place, and if large enough,
they are forwarded to the main company.
Important thing about the publishing market in Bahrain in terms of Trading Terms is
that the government does not allow foreigners to perform these business activities as
it is permitted only for Bahrainians. All activities associated with publishing
including press and even distribution is exclusive for the citizens of Bahrain.
The government however established the U.S. Bahrain Free trade agreement which
excludes some trade restrictions for the U.S service providers in the publishing sector
to do business in Bahrain. The lifting of these restrictions are reciprocated by nearly
an equal deal for the Bahrain publishers to invest in U.S.
Distribution channels differ in Bahrain. There are direct channels where universities
and other publishers sell their products directly to the customers in bookshops. All
the major publishers have bookshops and the universities too. The universities
however enjoy the benefits of direct sales since some of their customers are already
in the universities. Pirated copies are also sold in some of black market routes.
Although blamed for inadequacy associated with the distribution channels, this is not
always the case.
The main distributors in Bahrain are still the main publishers. These are mainly the
daily news publishers like Bahrain Tribune; which is the leading English Newspaper
in the country, Gulf Daily News, Bahrain; the daily national newspaper and Bahrain.
University of Bahrain is the main distributor in terms of Universities and
Information science and technology publisher also boats some share in the
publishing distribution sector. Other publishers include Arabian Magazines which
publishes and distributes magazines all the gulf. In Bahrain, it distributes the
Bahrain Confidential, GFI, Flash and Bahrain Live; Fanar publishing is also a major
distributor in Bahrain. It publishes Arab traveler and Arab agriculture directory
among other magazines.
8. Terms of Local Trading
This island has been an important place with regards to trade since the past. Several
rulers like the Portuguese and the Arabs have all ruled while taking trade into
consideration. Oil was discovered in the early 1930s and this was a boost into the

trade activity. This oil was the first to be discovered in this region although it is not
much and it is expected to be used up fast.
This place was once a major center of pearling but this went down during the 20th
century. The oil has led to the financing of major projects especially in the education
and health. 60% of the country's export earnings are accounted for by petroleum and
oil. Since the oil in this country is expected to run out in a few years, steps have been
taken in the nonagricultural sector to diversify it. Other activities that have been
established include Ship-repair, banking, and tourism sector. There are several
multinational firms in this country and its government also encourages foreign
investment. Fishing is a major economic activity and there are also fruits, dates and
vegetables. Most of the food grown is however exported.

Most of the food imports for Bahrain are brought in through Manama. The Mina
Sulman's port is well equipped with modern equipment and facilities. A lot of food
stuff such as greens (vegetables), perishable fruits and preserved meat are dispatched
from the Bahrain International Airport. Due to their quick perish ability; some food
stuff need be transported fast enough, that is, by the end of twenty four hours after
their advent. As for the rest, two to three days are required for their transportation to
their destined places.
In order to improve food importation in the country, Bahrain has opted to act in
collaboration with other firms. One way of doing this is by making it known to all
firms as soon as changes occur regarding the regulations in the products to be
imported in a timely basis. Prior to their transportation to the Bahrain, the
authorised persons dealing with imports reassess the food labels to ensure that only
quality products are selected. To fasten the clearance or approval of the imported
products, the exporters of the US are required to give in their food labels for the
purpose of getting pre-export endorsement mostly for current brands of goods.
Bahrain ensures that it offers secure supplies of food stuff by setting a requirement
for most of its products to be non-perishable, that is, products that can stay for a long
time without going bad. There is also five percent taxation on foodstuff that is
brought in from other countries. The duty on alcoholic drinks from other countries is
however quite high, standing at one hundred and twenty five percent and this can be
explained by the classification of the product, that is, it is a luxury good. However,
there are set of laws regarding the importation and subsequent sale of certain

products which are not considered as good among the Muslims since Bahrain is one
such country that embraces the Islamic religion. Such products include pork,
alcoholic drinks among others. For example, there are only four firms that are
permitted to import and vend drinks containing alcohol.
Looking at the cost of living in Bahrain, it is said to be similar to that of most
European countries. There is a general lack of taxation and this has made the cost of
several items high especially the luxurious items. Looking at the cost of
accommodation, it can be said to be high, so is the cost of imported items. The
internationally recognized food is relatively high but the locally produced food is not
that much expensive. Clothing can also be considered as expensive especially the
designer clothes. On the side of wines and spirits, they are cheaper when compared
to UK but they cost more than the average European prices. Other things like
electronics are generally expensive. The cost of living in this country will thus depend
on someone's lifestyle.
Like any other country, this country takes part in computer activities like hosting.
There is one major company which foresees activities of this nature and educates
people about them. Local hosting can not be said to be much when compared to
other countries but it is definitely growing each day.
Bahrain has invested hugely in Information and Communication Technology (ICT).
In terms of Internet and Mobile telephony, the country is far much ahead in the
region. There has been a huge demand for these services from both the private and
public sector. The market share is projected at 180 billion dollars by 2012. The
government has embraced e-Government in order to avail its services to thee people.
Applications and payment of bills are carried out online. E-commerce is another area
where much progress has been achieved. Through e-commerce, the residents can
afford to pay for their bill and purchase items using Internet.