A Strategy of Diversification

Starting in the 1960s, Bahrain began to adopt a strategy of economic diversification that favored non-oil industries which promised sustainable, long-term growth. The Kingdom has achieved this remarkable result by consolidating economic activities, encouraging private sector oil development, and providing incentives to diversification.

“Our Bahrain Economic Vision 2030 outlines our commitment to diversifying our economy and building a better life for every Bahraini, all guided by the principles of sustainability, competitiveness, and fairness.”

International Cooperation

Bahrain has ratified many international environmental conventions and efforts, including the Clean Seas Campaign, the United Nations Framework Convention on Climate Change (UNFCCC), and the Paris Climate Agreement, among others.

International Cooperation
Fully Integrated into The Global Economy

Fully Integrated Into The Global Economy

Bahrain’s position as a meeting-place of different cultures has helped the kingdom recognize the importance of being fully integrated in the global economy. Bahrain is a member of the World Trade Organization (WTO).

Investing in the Next Generation of Banking

Bahrain is transforming the future of banking as a key leader in regional finance and financial services. As home to Bahrain FinTech Bay (BFB), Bahrain is drawing companies from around the world working in areas ranging from big data and cryptocurrency exchanges to crowd-funding, payments and more. BFB is a public-private partnership between the Bahrain Economic Development Board (EDB) and FinTech Consortium.

Bahrain FinTech Bay

Bahrain is a full active member of:

  • The United Nations (UN)
  • The Organization of Arab Petroleum Exporting Countries (OAPEC)
  • The Organization of the Islamic Conferences
  • The Arab League
  • The World Bank
  • The International Monetary Fund (IMF)
  • The International Bank for Reconstruction and Development
  • The Islamic Development Bank
  • The Geneva Convention

A Strategy of Sustainable Development

A Strategy of Sustainable Economic Development

Being the first country in the Gulf to exploit oil in the early 1930s, Bahrain was also the first to actively develop non-oil industries through a strategy of sustainable development. Oil revenues were reinvested in education and healthcare, both drivers for non-oil industrial growth.

Bahrain has focused on improving physical infrastructure, telecommunications network, and the legal system in an effort to attract top-quality international companies and investors to Bahrain. Today, Bahrain boasts of well-established, non-oil-dependent industries and the infrastructure needed to sustain such business.