Bahrain is ranked 15th in world’s most competitive emerging markets

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Bahrain is ranked 15th overall among the most competitive emerging markets in the world and fifth in terms of business fundamentals, according to the 2022 Agility Emerging Markets Logistics Index.

The Index ranks 50 countries by factors that make them attractive to logistics providers, freight forwarders, shipping lines, air cargo carriers, and distributors.

The Index measures logistics performance based on multiple areas: Business Fundamentals, Domestic Logistics Opportunities, International Logistics Opportunities, and Digital Readiness.

In the area of business fundamentals, Gulf countries dominated the rankings with the UAE topping it and Saudi Arabia placing third.

Bahrain followed while improving two places from last year to rank fifth.

The report pointed out that Bahrain is distinguished by providing free zones across a range of manufacturing sectors as well as 100% foreign ownership of enterprises.

It added that the Kingdom plans to attract more manufacturers by investing in increased production of aluminium, petrochemicals and renewable energy as part of its 2022-2026 economic recovery plan.

Ahmed Sultan, Executive Director of Investment Development–Manufacturing, Transport, and Logistics at Bahrain Economic Development Board (EDB) said: “In parallel with the economic recovery plan, we aim to increase the logistics sector’s contribution to 10% of the country’s GDP, by leveraging Bahrain’s strong infrastructure and further expand our logistics offering.

We aim to continue promoting Bahrain’s strategic location, FTAs, and business-friendly environment to attract more manufacturers and logistics service providers.”