Bahrain Leads MENA in Financial Freedom for Third Consecutive Year

Bahrain, 30 March, 2024 :  Bahrain has maintained its position as the top performer in financial freedom in the Middle East and North Africa (MENA) region for the third consecutive year, according to the 2024 Index of Economic Freedom by The Heritage Foundation. With an economic freedom score surpassing global and regional averages, Bahrain has climbed 14 positions in global rankings since last year.

Nada Al Saeed, Chief of Strategy at Bahrain Economic Development Board (Bahrain EDB), highlighted the importance of economic freedom in driving progress and sustainable growth. Bahrain aims to sustain its favorable standings and attractiveness to investment through sound regulatory environments and market openness.

The Index assesses economic freedom across four key pillars: rule of law, government size, regulatory efficiency, and open markets. Bahrain performed well across these pillars, offering a streamlined and transparent investment framework that facilitates access to financial services for both foreign and domestic investors.

The Heritage Foundation's 2024 report commended Bahrain's dynamic business environment and its sustained openness to global commerce, supported by competitive regulatory measures. However, it emphasized the importance of further improving the rule of law and fiscal policy to ensure continued economic evolution.

Bahrain's commitment to diversifying its economy and fostering a business-friendly environment has been evident through its investment in a robust, digitally-ready economy and pioneering regulatory policies. Over the past two decades, Bahrain has achieved impressive economic growth, surpassing global averages and significantly increasing its nominal GDP.

Source : www.zawya.com