Outstanding achievement

Bahrain has figured among the top 10 improvers globally and second among the Arab countries in the World Bank’s Doing Business 2020 report. The Kingdom’s advancement, by 19 ranks to 43 on a measure of 190 economies, is the “direct result of Bahrain’s progress in accelerating investment-driven economic development, in line with the vision of HM King Hamad bin Isa Al Khalifa,” said the Minister of Finance and National Economy.

Congratulating His Majesty the King on the Kingdom’s achievement, Shaikh Salman bin Khalifa Al Khalifa said the global recognition further bolsters Kingdom’s development efforts and competitiveness. The minister also congratulated HRH Prince Khalifa bin Salman Al Khalifa, the Prime Minister and HRH Prince Salman bin Hamad Al Khalifa, the Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister on the achievement.

Shaikh Salman further highlighted the efforts of (Executive, Legislative and Judicial Authorities, private sector and NGOs) Team Bahrain in improving the Kingdom’s business environment alongside the introduction of new initiatives and upgradations to the Kingdom’s regulatory framework. Thanks to Benayat, Bahrain’s construction permit issuing process improved significantly also moving the Kingdom up 40 places to 17th globally.

Property registration in just two-days time managed a significant boost to Bahrain’s business-friendly atmosphere and a nine-place lift in global rankings to 17 worldwide. Electricity and Water Authority (EWA) reduced the overall time required to connect to the grid by 16 days, leading to an improvement of 10 ranks globally in the indicator for getting electricity.

Adopting new technologies also resulted in improving the Kingdom’s cross-border trade, with exports playing a vital role in boosting the country’s economy. Bahrain further strengthened access to credit, which helped to improve the Kingdom’s position by 18 ranks globally. The Kingdom’s ranking improved by 69 places to 59th globally in enforcing contracts and 33 places to 60th globally for resolving insolvency following the enactment of the Reorganisation and Bankruptcy Law.