68 July 2013 France In Bahrain www.bahrainthismonth.com A Growing Influence As the 1,000-strong French community observes Bastille Day on July 14, the ethos of liberty, equality and fraternity once again springs to the fore. Modern-day France is a nation on the move, embracing economic reform that is aimed at improving its competitiveness and business environment. French relations with Bahrain gained new momentum following HM King Hamad’s visit to France last summer and his meeting with President François Hollande. Sharing a common outlook on their foreign policies, the two sides have set up a joint committee to enhance cooperation on all fronts, with a special focus on the business front. Trade between the two sides touched a record €1 billion in 2012, courtesy the Airbus delivery to Gulf Air, notes French Ambassador to Bahrain, His Excellency Christian Testot. Key investor “With its excellent quality of life and good human resources, Bahrain remains a top investment destination for businesses. The cost of living is lower than other business centres in the Gulf, the regulations are business friendly and so are the personnel. The air connectivity is good. It’s no wonder that BNP Paribas and other French companies have chosen to operate from Bahrain,” says Ambassador Testot. In the last decade, French companies have invested around US$8 billion in electricity and infrastructure sectors in the Kingdom. There is further potential for growth, especially in the energy sector, one of the key areas where France remains interested. “Around 70 per cent of the electricity produced in Bahrain is currently being generated by French players. Our companies are keeping an eye on the proposed airport modernisation project in the Kingdom. On another front, we are happy to see BNP win the contract for the financial engineering for the proposed sixth potline of the Alba smelter,” he observes. For its own part, France is keen to attract investments from the Gulf region. Foreign investments account for around 42 per cent of the 26,000 jobs created or maintained in France last year, he points out. This message was delivered to Bahrain’s people and private investors at a workshop on the “Attractiveness of France” last month at the Ambassador’s residence. “Foreign collaborators who invest in France stand to earn very generous tax rebates if they invest in research and development initiatives. The French Embassy in Bahrain is happy to forward any queries from investors to the regional Invest in France Agency in Dubai,” the Ambassador adds. Simi Kamboj A longstanding player in the cultural sphere, France is increasingly emerging as a key participant on the business front in Bahrain. francesupplement H.E. Christian Testot Culture remains one of France’s top priorities in Bahrain. Cultural cooperation with France has touched new heights thanks to initiatives by the Ministry of Culture under Shaikha Mai and further collaboration on museums and archaeology is on the cards. On the education front, around 5,000 school children are currently studying French in Bahrain, and more children will learn the language as it is now a compulsory language in public schools. The French government would like to attract more foreign students to France and there are plans to expand the scholarships being offered for study there. Culture and Education
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