We need to hear the truth

As a person whose primary career as a seaman was all about facing Nature in its different moods and learning to face the challenge, I am always ready for the unvarnished truth. I believe that it is only if we have the information and knowledge about our circumstances that we shall have the power to shape a solution.  This is why I say that it is difficult to plan for the future when we insist on sugar-coating facts. A look at our immediate neighbourhood gives us an idea that we are going through challenging times. Homes are being advertised for sale in the Emirates at Dhs. 300,000, an unheard-of figure for even a studio flat just three years ago. One businessman with property in a neighbouring GCC country shared with me that he had seen rentals drop by as much as 40 per cent. In Bahrain too, rentals have dropped, home purchase has slowed and even property development is on a slowdown.  But are we hearing anything about these facts? Every quarter, we hear the false assurance that rents have gone up, that commercial property is going up in demand. Nobody seems to have taken the time to probe and find out what the truth is. When I look around, I see so many rental signs for commercial as well as residential spaces. That in itself is not bad. However, I also see several closing down sale signs and together, these signs speak of low energy in the market. The market is cyclical and I have no doubt that this dip will be complemented by a rise. Our focus should be on acknowledging this truth and making room for change and meeting this challenge. There are so many professional organisations in Bahrain – we need them to take a more pro-active role in upskilling their members, in conducting clear-eyed surveys to ensure that the government and decision-makers know the lay of the land and how to build for the future.  In particular, I come to the role of the BCCI in making available information about the state of the private sector and empowering businesses by being more assertive about governmental interaction. For instance, we all know that expatriates are welcome to do business in Bahrain and that the ‘business-friendly’ image of Bahrain has attracted many foreign companies and entrepreneurs. Till date, I have not heard of one survey to assess the contribution of foreign businesses to Bahrain. Such a survey would make it easier for Bahrain to work with the world, tweak rules to make it even easier for companies to be more productive and gain more from this interface with businessmen and women from other countries. The BCCI is the right organisation to supervise the conducting of such a survey by a professional agency.  we need in the first place. The lack of data can be a barrier holding us back. We also need to stimulate think-tanks that will carry out studies on a variety of socio-economic-political topics without fear. Does anybody recall the Bahrain Centre for Studies & Research (BCSR) that presented some fascinating findings on topics ranging from date palm cultivation to obesity?  In fact, the BCSR rang alarm bells about the Kingdom’s obesity levels long before international organisations like the WHO.  More importantly, such think tanks cultivate the habit in us of indigenous data collection, research and scientific query. As we prepare for a greater role in the Knowledge Revolution, we must hone our knowledge processing skills and be ready.