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Tue 24 Mar 2009 07:20 AM

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Bahrain, UAE shine in 2009 global business list

Bahrain is top Gulf country while UAE is one of best improvers on 2008 - Forbes.

Bahrain has been ranked the best country for doing business in the Gulf by Forbes while the UAE is one of the best improving countries in the list.

Bahrain was ranked number one in the GCC and 33rd of 127 economies in Forbes’ Best Centres for Business 2009 report, confirming that the kingdom is better placed than many other nations to weather the current global economic downturn.

The UAE was also one of the biggest movers up the list, ranked 46th, up 28 places compared to 2008.

The US-based publication’s fourth annual list, which ranked Denmark on top globally, assesses business conditions which entrepreneurs and investors consider desirable.

The report highlights a number of factors that have already attracted numerous multinational firms to Bahrain, seeking access to the Gulf and MENA region including a "well established financial services sector and leading position in Islamic finance".

Kamal Ahmed, chief operating officer of the Bahrain Economic Development Board (EDB), said: “Bahrain provides the most attractive business environment for international companies looking to access the markets of the Gulf and wider Middle East.

"Our strong business track record and long term strategy of economic diversification is backed by the highest and most transparent regulatory and supervisory standards in the region.”

The Forbes analysis of various socioeconomic indicators was drawn from expertise, research and published reports from the World Economic Forum, the World Bank, Transparency International, Freedom House, Deloitte Tax, the US Chamber of Commerce and Central Intelligence Agency, and the Heritage Foundation.

Mansoor 10 years ago

If they are best for the business then why all the firing of the innocent employees.

Mahmoud 10 years ago

Would like to know the ranking is based on WHAT?? And what type of business or investments that actually could be done in a country that lacks natural resources, infrastucture, and its Government is very slow in decisions and impelmentation for its own projects.