Report by Kholoud Al-Enezy
MANAMA, Dec 15 (KUNA) -- Bahrain celebrates its 52nd national day tomorrow Saturday, remembering its establishment back in 1783 as a Muslim Arab country by Ahmad Bin Mohammad Al-Khalifa, better known as Ahmad Al-Fateh, until becoming a UN member in 1971, and the accession of King Hamad Bin Essa Al-Khalifa to the throne in 1999. During the December season, organized by Bahrainآ’s tourism authority, a variety of activities held for the citizens and tourists to enjoy and celebrate the countyآ’s successes and achievements. The Kingdom of Bahrain saw great development and modernity at all levels under King Hamad Bin Essa Al-Khalifa, where it is now considered an economic and financial hub in the Arab Gulf. On the economic level, the Kingdom is striving for economic prosperity and improved living conditions in the manifestation of competency, justice, and sustainability which is part of its 2030 vision announced by the King in 2008. The (2023-26) government program started to achieve sustained progression under the guidance of the King with the aim of boosting the Gulf nationآ’s status at different levels. The methodology of this program focuses on solidifying principles like competency, justice, and sustainability to execute all developmental programs in accordance with the highest standards. The program is built on the collaborative ethos emphasizing teamwork and a commitment to competition and accomplishment in cooperation with the legislative and executive authorities, and strengthening their partnership with the private sector. Bahraini Crown Prince Salman Bin Hamad launched the (Bahrain Team) initiative, which revolves around public-private sector collaboration to find solutions tailored for investors and businessmen who seek to establish their own businesses in the Kingdom. The results of the this initiative were showcased in (Bawabat Al-Khaleej) conference in Manama where projects worth a total of USD 26 billion were presented by different sectors like technology, real estate, housing, energy, water, transportation, public works, and manufacturing. The Kingdom of Bahrain is considered the first country in the Gulf to have a diverse economy which is not dependent on oil as a main source of income. As for international financial standards, Bahrain maintains its leading position in the Arab world as the freest economy, according to the 2023 Economic Freedom of the World report published by the Fraser Institute, and ranks 45 globally from a reported 165 countries. Bahrain is also at the forefront of the Middle East and North African region in the "freedom to enter markets and compete" sub-indicator and earned a full grade in nine sub-indicators per the measurement of the report. Manama city earned the first spot globally in luring financial resources sub-indicator in 2023, according to the (AIRINC Global 150 cities Index) which considers average income, living cost, and tax rates. When it comes to the role of women, the kingdom ranked higher than average in the Middle East and North Africa region regarding accomplishment and equality, shown by the World Bank for womenآ’s entrepreneurship indicator in 2022 which covers 190 economies. According to the World Economic Forum, Bahrain ranks 54 among 146 countries in education in terms of the gender equality gap. Furthermore, womenآ’s participation in parliamentary and municipality elections has increased over the past few years, which reflects the kingdomآ’s effort to build an equal and diverse society, and womenآ’s empowerment. As for tourism, the kingdom is recognized as one of UNESCOآ’s World Heritage destinations featuring three listed sites. Bahrain was chosen as the capital of media and tourism in the Gulf region in 2024. The Kingdom also launched a cultural investment program in 2006, the first of its kind in the Middle East, it contributes to establish a cooperation between public and private sectors to affluence cultural investments like a national theatre and museums. Moreover, Bahrain became an attractive hub for sports tourism when it started hosting international sporting events like Formula One (F1), Bahrain Mixed Martial Arts championship, and the Middle East Ironman triathlon. For the second year in a row, Bahrain International Airport received in 2022 a five star rating from Skytrax, the worldآ’s top airport and airline rating body, in recognition of its top of the line accommodations and services. In the field of technology and digitalization, the Kingdom has been taking steps since 2016 towards a digital transformation of the economy, and established a financial technology center, and launched the first controlled environment for the trials of financial technology systems. Furthermore, the kingdom achieved first place among its GCC peers in commerce, information technology, and telecommunications based on the UN conference for trade and development (UNCTAD) in 2021. (end) kne.dm