UOB Academic: 9 Strategic Reforms Established Bahrain as a Regional Business Leader

An academic at the University of Bahrain stated that the nine reforms undertaken by the Kingdom of Bahrain to improve the business climate have helped it rank 43rd out of 190 countries, according to reports from the World Bank. This achievement places Bahrain among the top ten economies globally in terms of improvement.

Dr. Mehdi Mili, Associate Professor at the College of Business Administration at the University of Bahrain, explained that these nine reforms, implemented over the past year, have made Bahrain a leader in improving the investment climate within the GCC. The most improved economies are ranked based on the number of economic programs, legislative reforms, and the degree of improvement in the ease of doing business.

Dr. Mili noted that, as part of the Economic Vision 2030, Bahrain has carried out a comprehensive economic reform program that has significantly facilitated doing business in the Kingdom. One of the areas in which Bahrain has excelled is the ease of starting a business. The speed and cost of starting a business in Bahrain are the lowest in the MENA region, costing only 1% of the average per capita income, compared to the regional average of 16.7%. Additionally, it takes just 8 days to start a business in Bahrain, compared to the MENA average of 20 days.

It is also noteworthy that Bahrain is the world’s best performer in terms of tax compliance time, a key achievement of its ambitious reform plan.

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