Bahrain ranks among global top 15 in EM logistics index
The Kingdom of Bahrain has ranked 15th overall among the world’s most competitive emerging markets and fifth in the area of business fundamentals, according to the 2022 Agility Emerging Markets Logistics Index.
The Index ranks 50 countries by factors that make them attractive to logistics providers, freight forwarders, shipping lines, air cargo carriers, and distributors. It measures logistics performance based on multiple areas: (1) Business Fundamentals, (2) Domestic Logistics Opportunities, (3) International Logistics Opportunities, (4) and Digital Readiness.
Gulf countries dominated in the area of business fundamentals, with the UAE ranking first, followed by Saudi Arabia which ranked third. Bahrain followed, jumping two spots from last year to rank 5th.
“Bahrain offers free zones across a range of manufacturing sectors as well as 100% foreign ownership of enterprises. The country also plans to attract more manufacturers to its shores with investment to boost the production of aluminium, petrochemicals and renewable energy as part of its 2022-2026 economic recovery plan,” the report said.
Ahmed Sultan, Executive Director of Investment Development – Manufacturing, Transport, and Logistics at Bahrain Economic Development Board (EDB), commented: “In parallel with the economic recovery plan, our aim is to increase the logistics sector’s contribution to 10% of the country’s GDP, by leveraging Bahrain’s strong infrastructure and further expand our logistics offering. We aim to continue promoting Bahrain’s strategic location, FTAs, and business-friendly environment to attract more manufacturers and logistics service providers.”
Over recent years, Bahrain has emerged as the most efficient and cost-effective logistics gateway in the GCC, offering 45% operational cost savings compared to neighbouring countries as well as the shortest transit time between seaport, airport and logistics zones. Now, Bahrain’s National Logistics Strategy, as part of a wider Economic Recovery Plan, aims to increase the sector’s GDP contribution and rank it amongst the top 20 logistics hubs globally.
Key projects of the logistics strategy include Bahrain’s Global Sea-to-Air-Hub, the fastest in the middle east, leading to 40% cost savings and a 50% reduction in average lead time, creating a real opportunity not only for global logistics companies but also for e-commerce and fulfilment operators. – TradeArabia News Service
Source: http://www.tradearabia.com/news/IND_393563.html
