The Middle East, December 1st, 1996
Bahrain has been one of the richest countries in the Gulf region even before the exploitable oil reserves were discovered in 1932. Its pearling and agriculture businesses may have lagged considerably, but Bahrain continues to be a major trading base. In recognition of the depleting hydrocarbon reserves, Bahrain has instituted an economic diversification policy in Aug. 1971. It has developed a robust industrial base and has become a principal location for global business. Even before the discovery of exploitable reserves of oil in Bahrain in 1932, the island was one of the most prosperous in t...
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