Manama, February 21 (BNA): According to the Index of Economic Freedom for the year 2022 issued by the Heritage Foundation, Bahrain ranked first in the Middle East and North Africa region in terms of financial, investment and commercial freedom. Among the countries of the Middle East and North Africa, Bahrain ranked fourth in overall economic freedom.
According to the report, “The overall framework for investment in Bahrain remains transparent, and foreign and local investors are treated equally. The financial system remains active and generally free from government interference. No restrictive measures have been implemented in the banking sector over the past year,” and “ The government maintains a pro-business business environment and supports business start-up.”
The 2022 Index of Economic Freedom measures the level of economic freedom based on 12 factors, grouped into four categories: rule of law, size of government, regulatory efficiency, and open markets.
Commenting on the report, Ali Al Madhaifa, Chief Investment Officer, Bahrain Economic Development Board, said: “Bahrain’s high ranking among the countries in the region reflects the country’s business-friendly environment and forward-looking regulations. We have exciting plans ahead in line with the Economic Recovery Plan, which aims to attract US$2.5 billion in investments into the country by 2023 by enhancing our overall business environment.” Companies in Bahrain benefit from a range of competitive advantages and opportunities, which can be identified and leveraged Including the support of an EDB team that has the expertise and resources to launch companies on the ground.These competitive advantages include a 45% operational cost savings for the country compared to the rest of the region, and its pioneering regulations, which is reflected in Bahrain being ranked second globally in terms of tax burden in the 2022 Index of Economic Freedom.
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