Bahrain’s first ever National Competitiveness Report is set to be launched on 8 November by the newly formed Bahrain National Competitiveness Council (BNCC).
The report highlights the macro-economic competitive situation of Bahrain and its drivers. It also explains how the Bahraini economy has evolved over the past three decades and why it has in the past suffered from certain disadvantages. The report sheds new light on how oil-dependent revenue stimulates economic activity, while at the same time distorts the relative process of labour, land, energy, utilities and key services, thus hindering structural reforms of the economy towards a more high-tech, capital-intensive economy.
“This is the First National Bahrain Competitiveness Report ever launched in the Kingdom. The report will lead the way forward for our efforts to affect positive economic change in Bahrain. Once we raise awareness of Bahrain’s standing among other nations, we can set our sights on becoming even more competitive, encouraging positive reforms within our economy and growth within our market,” said Jawad Habib, Chairman - BNCC.
The regional and international competitiveness indices are tools used by the Davos-based World Economic Forum (WEF) as well as policy makers to decide on the strength of a country’s competitive strengths and weaknesses in an increasingly liberalized global market. The higher a country ranks on the indices, the more likely businesses are to consider it for possible future business ventures.
The timing of the launch is particularly relevant as the Arab Business Council’s World Economic Forum meeting, which takes place in Bahrain on 9 and 10 November, 2005, will include discussions about competitiveness in the Arab World
“This report is one of the many tools we intend to implement in an effort to raise awareness of Bahrain’s ranking in regional and international competitiveness indices. We hope that it will help to clarify people’s understanding of competitive rankings, and their use as policy and business decision making tools,” said Sulaf Zakharia – Secretary-General, BNCC.
The BNCC was established on 29 March 2005 in response to the pressing need to independently assess, diagnose and suggest improvements to Bahrain’s regional and international competitiveness, carving out a niche for itself in those marketplaces. Its members include leaders from Bahrain’s business community, professionals, academics and representatives of state-owned enterprises. In an effort to achieve the best possible results, the BNCC is cooperating closely with international organisations to ensure the Kingdom is consistently aligned with new developments in the global competitive arena.
The launch event will take place at the Diplomat Radisson SAS Hotel at a press conference being held on 8 November, 2005 at
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