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
 Apr 24 2015 - Pres. Erdogan's talks in Kuwait to focus on bilateral ties upgrade - officialKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Head of Europe Department at the Foreign Ministry Ambassador Waleed Al-Khubaizi said Thursday that the Turkish President Recep Tayyip Erdogan's talks with Kuwaiti ...

 Apr 24 2015 - His Highness Premier congratulates new ALO chiefKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah on Thursday sent a cable of congratulations Kuwait Trade Union Federation (KTUF) ...

 Apr 24 2015 - Egypt won't condone foreign threats to Arab security - Pres. SisiKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Egyptian President Abdelfatah Al-Sisi vowed Thursday that Egypt would not condone any threat to the Arab security and would stand by Arab countries to derail ...

 Apr 24 2015 - Pakistan desires early political solution to Yemen crisis - Foreign OfficeKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Pakistan has said that it desires an early political solution to Yemen crisis, urging the UN and the Organization of Islamic Cooperation (OIC) to take proactive ...

 Apr 24 2015 - EU leaders seek ways to prevent illegal immigration to EuropeKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Leaders of the 28-member European Union began here Thursday afternoon an emergency summit to deal with the illegal immigration crisis after the recent drowning of ...

 Apr 24 2015 - Conf. of diplomatic missions holds evening sessionKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The 8th conference of Kuwaiti diplomatic missions abroad resumed its sessions on Thursday evening in presence of Undersecretary of the Foreign Ministry Khaled ...

 Apr 24 2015 - Brussels Summit to end Med crisis "woefully inadequate" - AmnestyKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Draft Brussels summit proposals are "a woefully inadequate and shameful response" to the crisis in the Mediterranean and will fail to end the spiral of deaths at ...

 Apr 24 2015 - Saudi King meets Pakistan PremierKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Saudi King Salman bin Abdulaziz Al Saud met visiting Pakistani Prime Minister Nawaz Sharif and his accompanying delegation at Al-Ouja Palace here on Thursday.At ...

 Apr 24 2015 - His Highness Amir's Rep. stresses Kuwait's support to Asian-African coop.Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The State of Kuwait has adopted a policy of cooperation, backing dialogue and pushing development efforts for the prosperity of Asian and African countries, said ...

 Apr 24 2015 - Saudi Crown Prince meets Pakistan PremierKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Saudi Crown Prince and Deputy Prime Minister Prince Muqrin bin Abdulaziz Al-Saud met visiting Pakistani Prime Minister Nawaz Sharif and his accompanying ...

more...


 






Google

Internatinal Property Show

 
 

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