Manama, May 24 (BNA): Bahrain ranked second in the Arab world, and 34th globally, on the 2023 Logistics Performance Index issued by the World Bank, as “the most improved country in the GCC.”
Bahrain has risen 25 places since 2018, due to the outstanding projects and initiatives that have been implemented in the logistics services sector over the past year, the Kingdom has advanced 58 places in the “Timeliness Subindex” index to reach the second place in the Middle East and North Africa (tenth globally) in light of the lowest Time taken to import aviation on average.
Bahrain ranked first in the GCC countries in terms of minimal delay notices in imports and exports.
The World Bank report provides a comprehensive review of the performance of commercial logistics services, collecting data from May to October 2022 across 139 countries, using six components to assess customs clearance efficiency, trade quality and transport infrastructure, ease of arranging international shipments at competitive prices, quality of logistics services and ability to track shipments. And timely.
“Bahrain has earned the high ranking and outstanding performance given its strong supply chain and advanced logistical infrastructure. Bahrain acts as a gateway to the Gulf, with unparalleled access to the Middle East and North Africa region and beyond, where companies can benefit from free trade agreements covering 22 countries offering,” he said. Ahmed Sultan, Executive Director of Business Development in Manufacturing, Transportation and Logistics at the Bahrain Economic Development Board, says premium duty-free access to 30% of global GDP.
“In line with the economic recovery plan, this historic classification is a step in the right direction towards achieving the objectives set out in the logistics sector strategy that seeks to secure the Kingdom’s position among the leading global logistics services centers.”
The logistics services sector is a priority sector within the framework of the Kingdom’s economic recovery plan, which aims to position Bahrain as one of the top 20 global destinations for logistics services and increase the sector’s GDP contribution in 2030 to 10%. Launched in November 2021, the main pillars of the Logistics Services Sector Strategy (2022-26) feature strategic initiatives focused on revising laws and regulations, developing infrastructure facilities, strengthening policies and procedures, providing incentives for investors, and enhancing investment opportunities, while enhancing participation regional and international.
FKN