Bahrain Business Fundamentals rank 5th in Emerging Markets Index
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
Bahrain’s business climate, among the best offered by emerging markets countries, drove the country’s ranking as 15th most competitive of 50 countries in the 2022 Agility Emerging Markets Logistics Index.
Bahrain ranked 5th for business fundamentals, an area where the UAE was No. 1 and where Gulf and MENA countries are clear leaders.
Others near the top in business conditions: Saudi Arabia (3), Oman (6), Morocco (9), Jordan (10), and Kuwait (12).
In the overall rankings, the UAE (3), Saudi Arabia (6) and Qatar (7) ranked among the top 10 emerging markets in the 2022 Index, which was led by China (1) and India (2).
Also performing well: Oman (14), Bahrain (15) and Kuwait (17).
The 2022 Agility Emerging Markets Logistics Index is the company’s 13th annual ranking of the world’s 50 leading emerging markets.
The Index ranks countries for overall competitiveness based on their logistics strengths, business climates and, for the first time, their digital readiness -- factors that make them attractive to logistics providers, freight forwarders, air and ocean carriers, distributors and investors.
The Index includes a survey of 756 supply chain industry professionals.
The UAE ranked highest for digital readiness, a new category in the Index.
Top 10 in digital readiness: UAE, Malaysia, China, Saudi Arabia, India, Thailand, Qatar, Indonesia, Chile and Philippines.
Kuwait (12) and Oman (15) also ranked highly.
Bahrain was 22nd.
Digital readiness assesses digital skills, training, Internet access, e-commerce growth, investment climate, and ability to nurture startups, as well as sustainability factors such as renewable energy mix, lower emissions intensity and green initiatives.
“The competitiveness of emerging markets countries will be determined by their ability to develop digitally skilled businesses and talent pools, and find the resolve to lower their emissions in ways that spur growth rather than sacrificing it,” Agility CEO Tarek Sultan said.
The importance of digital readiness was apparent in the survey.
Logistics executives identified adoption of technology as the leading driver of economic and business growth for emerging markets.
The top focus areas for their companies: technology and sustainability.
Most logistics industry executives see moderate-to-strong economic growth and little or no chance of recession in 2022, even without immediate relief from the snarled supply chains and sky-high ocean and air freight rates triggered by the COVID-19 pandemic.
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