Bahrain launches first ever national competitiveness report

Published November 8th, 2005 - 12:39 GMT

The first ever Bahrain Competitiveness Report was released today by the newly formed Bahrain National Competitiveness Council (BNCC).  Delving into the areas affecting Bahrain’s competitiveness ranking against other regional and international countries, the report examines in detail the factors driving the macro-economic competitive situation in the Kingdom.

 

The report highlights where the Kingdom stands, and explains how Bahrain’s economy has evolved over the past three decades and why it has suffered from certain competitive disadvantages. It also sheds new light on how oil-dependent revenue stimulates economic activity, but at the same time distorts the relative process of labour, land, energy, utilities and key services, thus hindering the necessity of structural reforms to transition towards a more high-tech, capital-intensive economy.

 

“This essential report is a great achievement of collective effort and resources.  Once we succeed in raising greater 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 by our efforts to improve our competitive positioning,” 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 determine a country’s competitive strengths compared to its weaknesses in an increasingly liberalizing global market.  The higher a country ranks on the indices, the more likely businesses are to consider it for possible future business ventures.  Bahrain currently ranks 3rd in the Arab World and 28th globally according to the WEF’s Arab World Competitiveness Report 2005 and the Global Competitiveness Report 2004-2005, respectively.

 

The timing of the launch is particularly relevant as the Arab Business Council’s annual meeting, which takes place in Bahrain on 9 and 10 November, 2005, will include discussions about competitiveness in the Arab World.

 

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.

 


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