Bahrain second best ME country in business environment
(Manama) – The World Bank Group’s annual Doing Business report ranked Bahrain second best country in the Middle East for doing business.
Development of infrastructure, facilitation of the procedures at the King Fahad Causeway, and reduction of the minimum capital requirement for starting business are among the reforms that contributed to improving the kingdom’s business regulatory environment.
According to the “Doing Business 2017: Equal Opportunity for All” report, Bahrain is now 63rd among 190 economies on the ease of doing business, compared to 66th last year.
Bahrain continued its robust performance in many fields, including the issuance of construction permits and property registration, ranking 19th and 25th respectively.
The kingdom’s initiative to ensure easy procedures at the King Fahad Causeway was among the main reforms that contributed to improving Bahrain’s standing in the field of trading across borders. The new procedures have improved links with Saudi Arabia, the largest economy in the region, which will boost the logistics services sector, as well as the industrial sector.
The report also lauded the efforts exerted to create a permanent system for starting business in the kingdom through reducing the minimum capital required for starting business. Moreover, the Kingdom launched the “Sijilat” Commercial Registration Portal last year, which contributed to reducing the complexity of the commercial registration and licensing procedures for all local and foreign investors.
The wide-ranging report ranked 190 economies on their ease of doing business. It covered 10 indicators, including ease of doing business, starting business, dealing with construction permit, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.