Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

MENA economic freedom: Bahrain remains on top  Join our daily free Newsletter

MENAFN - Arab News - 16/01/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) According to the annual Index of Economic Freedom published by The Heritage Foundation and the Wall Street Journal, Bahrain remains the Middle East North Africa (MENA) region's most economically free country



Overall, Bahrain is ranked 13th out of 178 economies worldwide, between the United States and the United Kingdom which rank 12th and 14th respectively, and is the only MENA country to rank in the top 20. In the 20-year history of the index, Bahrain has consistently achieved a score greater than 70, well above the world average. The kingdom's 2014 economic freedom score is 75.1



The report highlights that the Kingdom's "transition to greater openness and diversification is based on foundations of economic freedom" and that Bahrain "continues to be a financial hub for dynamic economic activity, with high levels of trade and investment bolstered by a competitive and efficient regulatory environment.



According to the report, Bahrain has improved its economic freedom score in a number of categories at an above-average rate since index grading began 20 years ago, particularly in the areas of financial freedom, investment freedom and labor freedom



Kamal bin Ahmed, minister of transportation and acting chief executive of the Bahrain Economic Development Board (EDB), said: "We are delighted that Bahrain's efforts to improve economic freedom and the kingdom's strong economic fundamentals have again been recognized in the Index of Economic Freedom. Bahrain's leading position and consistent high ranking over the last 20 years is a reflection of efforts to ensure we provide investors with the free and open business environment they need so we can continue to deliver sustainable growth for Bahrainis.




The 2014 Index of Economic Freedom measures the level of economic freedom in 10 pillars - business freedom, trade freedom, fiscal freedom, government size, monetary freedom, investment freedom, financial freedom, property rights, freedom from corruption and labor freedom



The report has positive comments on Bahrain's open market environment, stating that the Kingdom has a low average tariff rate and relatively few non-tariff barriers, favorable tax regime with most businesses exempt from taxation and no personal tax, and on the ease of starting a business which costs less than 1 percent of the level of average annual income



Bahrain's ranking reflects the Kingdom's competitive advantage as a location for investment into the Gulf market, an economy now worth 1.5 trillion. Strategically located at the heart of the Gulf, Bahrain has long been considered the gateway to the region, with easy access to the large economies of Saudi Arabia, Kuwait and Qatar. In September 2013, the Fraser Institute's annual Economic Freedom of the World Index ranked Bahrain as the eighth freest economy in the world

 


Arab News




  MENA News Headlines
 May 31 2016 - Qatari Emir heads to Saudi Arabia to participate in GCC 16th Consultative MeetingEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DOHA, 31st May, 2016 (WAM) -- H.H. the Qatari Emir, Sheikh Tamim bin Hamad Al-Thani, left Doha on Tuesday morning for the Kingdom of Saudi Arabia to take ...

 May 31 2016 - DP World future leaders visit UAE Embassy in SingaporeEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) SINGAPORE / DUBAI, 31st May, 2016 (WAM) -- Future leaders of DP World UAE Region met Abdullah Al Mandoos, Acting Charge d'Affaires of the UAE Embassy in ...

 May 31 2016 - UAE- EAD organises workshop on mercury emissions inventoryEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI, 31st May, 2016 (WAM) -- The Environment Agency - Abu Dhabi, EAD, yesterday organised a workshop to highlight the main findings of the Mercury ...

 May 31 2016 - UAE- Automation is key to sustaining operation efficiency and productivity: GASCOEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI, 31st May, 2016 (WAM) - Sultan Al Muhairi, Senior Vice President for Technical Affairs of Abu Dhabi Gas Industries, GASCO, has affirmed that ...

 May 31 2016 - UAE- UN envoy to Yemen says violations to cessation of hostilities in Yemen unacceptableEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) KUWAIT, 31st May, 2016 (WAM) -- UN Special Envoy to Yemen, Ismail Ould Cheikh Ahmed, has expressed concerns about violations of the cessation of hostilities ...

 May 31 2016 - UAE- Ajman sees 20% rise in visitors and tourism revenue in Q1 2016Emirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) AJMAN, 31st May, 2016 (WAM) -- The number of guest arrivals into the Emirate of Ajman during the first quarter of the year increased by 20 percent, ...

 May 31 2016 - Saudi Foreign Minister hails strong ties with EUEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) JEDDAH, 31st May, 2016 (WAM) -- Saudi Foreign Minister, Adel bin Ahmed Al-Jubeir, has said that the Kingdom of Saudi Arabia and the European Union enjoy ...

 May 31 2016 - UAE- Mohammed bin Rashid arrives in JeddahEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI, 31st May, 2016 (WAM) -- His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, today arrived in ...

 May 31 2016 - Major fire at Indian arms depot kills 17Emirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) NAGPUR, Indian, 31st May, 2016 (WAM) -- At least 17 security personnel, including two young Army officers, were killed today in a major fire that broke out ...

 May 31 2016 - Secretariat of Abu Dhabi Executive Council delegation visits UAE-Jordanian Refugee CampEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI, 31st May, 2016 (WAM) -- A delegation from the General Secretariat of the Abu Dhabi Executive Council has visited the UAE-Jordanian camp for ...

more...


 





Google

Join Our Newsletter

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help