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Bahrain - The world’s best labour market regulations

Global Arab Network - - John Short

Wednesday, 23 September 2009 10:12

Bahrain has the world’s best labour market regulations and is among the 20 freest economies according to the independent Economic Freedom of the World 2009 report published by the Fraser Institute, 17th September 2009. The Kingdom jumped 17 places since 2006, and is the only Gulf nation to register an upward trend. The annual report measures the degree to which the policies and institutions of the countries are supportive of economic freedom.

Ratings of Bahrain’s regulatory environment as a whole improved, climbing 29 places to 5th best of the 141 global economies surveyed in the Index. The area of regulation took into consideration Credit Market Regulation, Labour Market Regulation and Business Regulation. Bahrain’s strong position in the index further emphasises the findings of the Heritage Foundation’s 2009 Index of Economic Freedom which earlier this year found Bahrain to be the 16th freest economy worldwide and the only country from the Middle East and North Africa region (MENA) to feature in the top 20 worldwide.

Shaikh Mohammed bin Essa Al Khalifa, Chief Executive of the Bahrain Economic Development Board (EDB) said, “In Bahrain our tried and tested regulatory environment and commitment to international standards have long offered an attractive business environment, particularly to companies looking to access the growing trillion dollar GCC market. Recent reforms, specifically in the areas of labour regulation, education and training, together with the continued investment in Bahrainis, ensure that companies in Bahrain continue to benefit from our skilled and professional national workforce.”

Recent reports highlighted Bahrain’s strength in its openness and commitment towards commerce. Earlier this month Bahrain was ranked among the world’s top 20 for ‘ease of doing business’ by the World Bank Group in its Doing Business 2010 report. The World Economic Forum (WEF) released its Global Competitiveness Report 2009-10 last week, highlighting significant improvements in the Kingdom especially with regard to the labour market, where Bahrain was ranked 35th out of the 133 countries reviewed, up 29 places from its previous ranking.

Shaikh Mohammed added “The consensus of these independent reports is testament to the proven measures Bahrain has taken to encourage further private sector growth, economic diversification and to create better opportunities for Bahrainis, all goals of the Bahrain Vision 2030 and National Economic Strategy”.

Global Arab Network

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Last Updated on Wednesday, 23 September 2009 20:57

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