The Fakhro Group is in the process of expanding out of its core presence in Bahrain to become a more regional Group. A number of factors have contributed to this decision to build on our existing foothold in the Bahrain market to explore setting up ventures in neighboring markets. First, the GCC (Gulf Cooperative Council) countries of Bahrain, Saudi Arabia, Qatar, the UAE, Kuwait and Oman are increasingly beginning to function like a single market.

Tariffs for goods transported between these countries have effectively been removed and steps are being taken to set up a common currency for the entire block over the coming years. Additionally, the business climate in the countries that neighbor Bahrain is becoming increasingly accepting of foreign companies and so the prospect of doing business in these countries is beginning to look increasingly more appealing.

Our current regional presence means that multinationals that are looking for a company to work with in the Gulf are increasingly choosing to work with us rather than dealing with a large number of local players. Our regional customers with offices across the Gulf would also prefer to deal with one company for all of their offices rather than dealing with different companies in each of the countries in which they operate.