Bahrain Among World’s Top 10 Most-Improved Economies

Bahrain
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Bahrain is ranked among the top-10 most improved economies in the world according to a World Bank report that assessed 190 countries.

Bahrain also came among the top 10 countries in the world improving its business climate and ranked 43 globally with a score of 76 in the Doing Business report.

Bahrain has the best global performance in terms of tax compliance time as part of its reform plan and has achieved the most significant improvements in contract enforcement. In addition, it has laid the legal basis for electronic notifications via email or SMS as well as that complaints can now be submitted to the Supreme Court electronically.

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Bahrain has also launched a new online platform, Benayat, which has simplified procedures for building permits making the review process faster and more efficient taking only 71 days, compared with 174 days last year for licensing procedures.

Authorities also have greatly simplified the transfer of ownership, now it only takes two days to register a warehouse in Manama, compared to 31 days a year ago, and businessmen can finish this transaction through two interactions which put Bahrain in 17th place globally on the property registration index.

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In January 2018, the Electricity and Water Authority launched a website and the time required to connect a new warehouse to the unified grid was reduced by 16 days and access to electricity in Bahrain has become faster than in high-income OECD economies.

The full report is available with its data sets at www.doingbusiness.org

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