Bahrain's Vision For 2030: Unlocking The Nation's Future Potential

The Bahrain Economic Vision 2030 is a comprehensive economic plan for the Kingdom of Bahrain, launched in October 2008 by His Majesty King Hamad bin Isa Al Khalifa. The vision aims to develop the Bahraini economy and improve living standards for all citizens. It is based on three guiding principles: sustainability, competitiveness, and fairness. The plan seeks to reduce Bahrain's economic dependence on oil and enhance its competitiveness in the global economy, with a focus on improving productivity, innovation, and human capital development. The success of this vision will be measured by the extent to which it improves the lives of Bahrainis and helps the country transition to a sustainable and prosperous future.

Bahrain's Economic Vision 2030 aims to improve the living standards of all Bahraini citizens

Bahrain Economic Vision 2030 is a comprehensive economic plan for the Kingdom of Bahrain, launched in October 2008 by His Majesty King Hamad bin Isa Al Khalifa. It aims to improve the living standards of all Bahraini citizens by focusing on three guiding principles: sustainability, competitiveness, and fairness.

The vision seeks to transform Bahrain's economy from one dependent on oil wealth to a globally competitive, productive economy, driven by a pioneering private sector. By 2030, Bahrain aims to have an economy that raises a broad middle class of Bahrainis who enjoy good living standards through increased productivity and high-wage jobs.

To achieve this, Bahrain will invest in human capital development, particularly in the fields of education and training, with a focus on applied sciences. It will also encourage leadership, innovation, and entrepreneurship to ensure the sustainability of a vibrant private sector. Bahrain recognizes the importance of protecting the environment and preserving its cultural heritage while pursuing economic growth.

Competitiveness is another key aspect of Bahrain Economic Vision 2030. The country aims to achieve high competitiveness in the global economy by creating a competitive environment that drives economic growth, increases productivity, and raises wage levels. Bahrain understands that increasing productivity requires a skilled workforce with the right capabilities for each job. Therefore, efforts will be made to retain skilled workers and develop the capabilities of the local workforce.

Fairness is also a guiding principle of Bahrain Economic Vision 2030. Both the public and private sectors are committed to transparency and providing a free and fair competitive atmosphere for all transactions. The government will provide a legal and regulatory framework to ensure consumer protection and fair treatment for business owners, including foreign investors. Bahrain aims to uphold justice in society by treating everyone equally under the law, adhering to international human rights standards, and providing equal access to education and healthcare. Additionally, support will be provided to those in need through job training and a targeted social safety net.

The implementation of Bahrain Economic Vision 2030 has already shown promising results. Since 2008, the Bahraini economy has grown significantly, and international investments into the Kingdom have increased. The average income of Bahraini families has also risen, despite a slowing global economy. The diversification of the economy, with a focus on sectors like tourism, small business growth, and financial services, has been a key contributor to this success.

In conclusion, Bahrain Economic Vision 2030 aims to improve the living standards of all Bahraini citizens by transforming the country's economy, embracing sustainability, competitiveness, and fairness. Through investments in human capital development, encouragement of innovation, and a commitment to fairness, Bahrain is on its way to becoming a globally competitive economy, improving the lives of its citizens.

The vision is guided by three principles: sustainability, competitiveness, and fairness

Bahrain's Economic Vision 2030 is a comprehensive economic plan for the Kingdom of Bahrain, launched in October 2008 by His Majesty King Hamad bin Isa Al Khalifa. The vision is guided by three principles: sustainability, competitiveness, and fairness.

Sustainability

Bahrain's economic vision adopts a government financing policy to achieve the principle of sustainability, which forms the basis of future aspirations. The country will use its resources to develop human capital through investment in education and training, particularly in the field of applied sciences. Bahrain will also encourage leadership and innovation to ensure the long-term sustainability of a dynamic private sector. While new technologies and increased competition shorten product lifespans, innovation will contribute to the continued success of the economy. However, economic growth will not compromise the environment and citizens' safety in the long term.

Competitiveness

Bahrain's vision aims to achieve high competitiveness in the global economy, driving economic development, profitability, and wage increases. Increased productivity occurs more naturally in a competitive environment. To enhance productivity, Bahrain needs citizens with the right skills for each job. Therefore, efforts will be made to retain skilled workers and develop the Bahraini workforce through retraining.

Fairness

To promote fairness, the public and private sectors are committed to transparency and providing a free and fair competitive atmosphere for all transactions, including employment, public auctions, and tenders. The government will provide a legal and regulatory framework to ensure consumer protection and fair treatment of business owners, including foreign investors. The Kingdom will uphold justice in society by treating everyone equally under the law, adhering to international human rights standards, providing equal access to education and healthcare, and supporting those in need through adequate job training and a targeted social safety net.

The plan is to shift from an oil-based economy to a globally competitive, productive economy

Bahrain's Economic Vision 2030, launched in October 2008, is a comprehensive economic plan for the country. The vision aims to improve the living standards of all Bahraini citizens by shifting from an oil-based economy to a globally competitive, productive economy.

The plan focuses on three guiding principles: sustainability, competitiveness, and fairness. Firstly, sustainability is ensured by adopting a government financing policy that upholds a stable and forward-looking system. Bahrain will invest in human capital, particularly in education and training in the field of applied sciences, to encourage leadership and innovation. This will ensure the long-term sustainability of a vibrant private sector. However, economic growth will not compromise the environment and the well-being of Bahrainis, with efforts made to protect the kingdom's cultural heritage.

Secondly, competitiveness is achieved by attaining a high level of competitiveness in the global economy. A competitive environment fosters increased productivity, driving economic growth, profitability, and wage increases. To enhance productivity, Bahrain must focus on educating its citizens, retaining qualified staff, and attracting foreign workers with the necessary skills. The key is to create an attractive business environment for both local and foreign companies, offering high-quality public services, cutting-edge infrastructure, and an appealing living environment.

Lastly, fairness is promoted through transparency in all transactions by both the public and private sectors. The government provides a legal and regulatory framework to protect consumers and ensure fair treatment for business owners, including foreign investors. Fairness in society means treating all citizens equally under the law, upholding international human rights, providing equal access to education and healthcare, and supporting the needy through adequate job training and a targeted social safety net.

The Economic Vision 2030 aims to address the Sustainable Development Goals 2030 (SDGs) and ensure Bahrain's economic prosperity and improved living standards for its citizens.

The private sector should be able to drive economic growth in Bahrain by 2030

Bahrain's Economic Vision 2030, launched in October 2008, is a comprehensive economic plan for the country. It provides a clear direction for the continued development of the Kingdom's economy and aims to improve the lives of all Bahraini citizens. The vision is based on three guiding principles: sustainability, competitiveness, and fairness.

Bahrain's vision for 2030 is to become a global economic contender. To achieve this, the country aims to attain a high level of competitiveness in the global economy. Increased productivity comes more naturally in a competitive environment, driving economic growth, profitability, and wage increases. Bahrain recognises that higher productivity requires people with the right skills for each position. Therefore, the country will focus on educating its citizens, retaining qualified staff, and attracting foreign workers with the necessary skills.

Bahrain aims to create a broad base of prosperity and ensure that every individual can contribute to society. To achieve fairness, all transactions made by both the public and private sectors must be transparent. Free and fair competition should prevail, and the government will provide a legal and regulatory framework to ensure the protection of consumers and fair treatment for business owners, including foreign investors.

The country's economic vision for 2030 is to transform Bahrain's economy from a regional pioneer to a global contender. This will be achieved by addressing key areas such as professional and industrial services, education and training, and information and communication technology. Bahrain's future economic success will have a wider impact on society, creating a broad base of prosperity and improving living standards for all citizens.

The United Nations is supporting the Kingdom of Bahrain in achieving its national and international commitments to the Agenda 2030 and the SDGs

The United Nations is actively supporting the Kingdom of Bahrain in achieving its national and international commitments to the Agenda 2030 and the SDGs (Sustainable Development Goals). The Strategic and Sustainable Development Cooperation Framework (2021-2024) is a comprehensive partnership strategy that forms the basis for achieving the SDGs in the Kingdom of Bahrain. The United Nations has 21 entities represented in Bahrain, and its work encompasses all 17 SDGs.

The Kingdom of Bahrain's 2030 Economic Vision embodies a comprehensive plan for the country, aiming to improve the living standards of all Bahraini citizens. The vision is guided by three principles: sustainability, competitiveness, and fairness. The Bahraini government is committed to transparency and providing an atmosphere of free and fair competition in all transactions.

The Economic Vision 2030 focuses on shaping the vision of the government, society, and the economy. It addresses the Sustainable Development Goals 2030 (SDGs) and aims to transform Bahrain's economy from a regional pioneer to a global contender. The vision includes plans to develop the private sector, improve human capital through education and training, and protect the environment and cultural heritage.

The United Nations is supporting Bahrain in its efforts to achieve the SDGs by engaging with the government, civil society, academia, and the private sector. Bahrain's future prosperity depends on its ability to adapt to new economic and political realities, and it has underscored the importance of collaboration between the public and private sectors to accelerate growth.

With the United Nations' support, Bahrain is well on its way to reaching its goals of becoming a meritocracy that rewards hard work and talent, and achieving long-term sustainable development.

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