Economic Vision 2030 for Bahrain.

This Economic Vision exposes the aspirations for Bahrain economy, government and society in accordance with the guiding principles of sustainability, competitiveness and fairness. Afterwards, the Government will develop detailed strategic and operational plans for making these aspirations a reality. The overall goal of the Vision is to shift from an economy built on oil wealth to a productive, globally competitive economy driven by the private sector, given that the aim will only be reached if the private sector, the government and every member of Bahraini society all work together to make it happen. The guiding principles of the Vision are as follows (i) Sustainability: economic growth must never come at the expense of the environment and the long-term well-being of the people, therefore efforts will be made to protect the environment and preserve the cultural heritage; (ii) Competitiveness: the need is for a continuously improving productivity to make Bahrain a great place to do business through high-quality public services, cutting-edge infrastructure and an appealing living environment; (iii) Fairness: the government shall provide the legal and regulatory framework that ensures protection of consumers and fair treatment for business owners, including foreign investors. The principles need to be translated into action, in particular in the following sectors (i) increasing economy; (ii) efficient and effective Government; and (iii) a socially assisted, high-educated, and environmentally safe society.
To make the environment, including agriculture and forestry, more sustainable, the Vision proposes (i) to conserve natural spaces for future generations to enjoy; and (ii) invest technologies that reduce carbon emissions, minimize pollution and promote the sourcing of more sustainable energy.
In order to enable a more inclusive and efficient market system, measures shall be taken to (i) opening up Bahrain’s markets ever more fully to expose the companies to process innovation and best practices; and (ii) promoting the export-oriented sectors to ensure that Bahrain companies embrace the world markets for products and services.
As for the Governance, main actions will be directed to build strong strategic, forward-looking as well as operational, implementation-focused capabilities in all government institutions, and to establishing effective and efficient regulation before and rigorous supervision after privatization.