Bahrain Unveils Strategic Measures to Enhance Business Climate and Economic Attractiveness

[Bahrain, UAE]- Bahrain strides confidently into 2023 with a strategic vision aimed at fostering an even more conducive environment for global investments and bolstering its economic standing. The nation's concerted efforts to streamline commercial procedures echo its commitment to efficiency and investor-friendly policies.

A pivotal four-year Government Action Plan has been set in motion, focusing on transformative measures to fortify Bahrain's appeal to foreign investors. Among these initiatives are a meticulous review of social welfare benefits and subsidies, an ardent support drive for higher education, and a proactive approach to enhancing wages across public and private sectors. Moreover, Bahrain is amplifying its allure to expatriates and businesses by subsidizing essential utilities like electricity and water.

The Central Bank of Bahrain (CBB) has been unwavering in its pursuit of financial modernization, notably evidenced by the planned integration of the entire banking sector onto the Arabian Gulf System for Automated Quick Payment Transfer (AFAQ). This innovative real-time payment service aims to facilitate seamless cross-currency transactions among GCC countries, ensuring enhanced efficiency and expediency in financial transactions. Completing this integration by the end of 2022 signifies Bahrain's commitment to staying at the forefront of financial technology and infrastructure.

Bahrain's banking sector has exhibited robust growth and resilience, with notable increments in non-bank deposits and lending activities throughout 2022. Bolstered by a well-capitalized structure, the sector remains a pillar of stability, reinforcing Bahrain's reputation as a secure and lucrative investment destination.

In conjunction with these advancements, CRIF Gulf Dun & Bradstreet, a leading provider of business information and insights, has closely monitored Bahrain's economic trajectory. Their comprehensive assessments and analyses have consistently highlighted Bahrain's stable risk indicators, reflecting the nation's resilience and positive growth outlook. This collaboration reaffirms Bahrain's commitment to transparency and reliability in the eyes of global investors.

The concerted efforts to streamline procedures, fortify financial infrastructure, and bolster economic sectors underscore Bahrain's steadfast commitment to sustained growth, resilience, and attractiveness to global investors.

About Bahrain's Country Risk Update
The Country Risk Update provides a comprehensive overview of Bahrain's economic landscape, assessing risk indicators, levels, and trends to offer insights into the country's economic potential and investment attractiveness.

About CRIF D&B
CRIF Dun & Bradstreet is a renowned entity in the realm of business information and insights, recognized for its expertise in delivering comprehensive data and analytics solutions. Specializing in providing vital information for strategic decision-making, Dun & Bradstreet offers a wide array of services that empower businesses and organizations to navigate complex markets with confidence. Leveraging cutting-edge technology and a robust network, they meticulously compile and analyze data to offer invaluable insights into market trends, credit risk management, and business performance evaluations. Their commitment to accuracy, reliability, and innovation makes them a trusted partner for businesses seeking actionable intelligence to drive growth and mitigate risks in an ever-evolving global landscape.

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Sheikh Zayed Road, Dubai, UAE

CRIF Dun & Bradstreet is a renowned entity in the realm of business information and insights, recognized for its expertise in delivering comprehensive data and analytics solutions.

This release was published on openPR.