Bahrain 2030

Is Bahrain's Economic Vision 2030 (PDF, 279KB, 26 pages) a transformative roadmap for the future? Launched in October 2008 by His Majesty King Hamad bin Isa Al Khalifa, this comprehensive economic vision for Bahrain provides a clear direction for the continued development of the Kingdom’s economy. It embodies a shared goal of building a better life for every citizen.

This visionary plan emerged from four years of extensive discussions involving opinion leaders from both the public and private sectors, including governmental institutions, international consultancies, and organizations. At its core, the Economic Vision 2030 (PDF, 279KB, 26 pages) is shaped by three guiding principles: Sustainability, Fairness, and Competitiveness. This alignment of government, society, and economic perspectives led to the initiation of an ongoing program of economic and institutional reform by the Economic Development Board (EDB). Bahrain's Economic Vision 2030 has always been the key driver for the Government Action plan (set every 4 years) to shape the directions and government initiatives to the best of community welfare. The first National Economic Strategy, compiled under the EDB's leadership, serves as a roadmap to realize this Vision, which also addresses the Sustainable Development Goals 2030 (SDGs). The Kingdom of Bahrain's 2023 Voluntary National Review comes at the mid-point for the implementation of the SDGs and the 2030 Agenda to critically assess and comprehensively present national progress made to date in implementing the agenda.

Let's delve into the three pillars of this vision:

Sustainability: Recognizing the challenges of a public-sector-driven growth model, Bahrain aims to pivot towards a vibrant, private-sector-led economy by 2030 while the government focuses on its role as regulator. This shift includes a commitment to sustainable government finances, investment in human capital through education (especially in applied sciences), fostering entrepreneurship, and ensuring environmental protection and cultural heritage preservation.

Competitiveness: Bahrain's strategy for achieving high global competitiveness includes nurturing a competitive environment to motivate productivity, growth, and profitability. This involves not just improving the skill sets of the workforce but also making Bahrain an attractive destination for both local and foreign businesses. A focus on high-quality public services, advanced infrastructure, and an appealing living environment are key to this goal.

Fairness: The Vision ensures that Bahrain's economic success creates widespread prosperity. This involves transparent dealings in both public and private sectors, upholding free and fair competition, and providing a legal and regulatory framework that protects consumers and business owners alike. Fairness also extends to equal treatment under the law, access to essential services like education and healthcare, and support for the needy through job training and social safety nets.

These guiding principles of Bahrain's Economic Vision 2030 align closely with the Sustainable Development Goals 2030. They represent the government's current priorities and are intricately linked to the executive actions of the current Government Plan (Arabic only). High economic growth, sound government finance, human capital improvement, fairness, and a competitive market are the keys to achieving most of the SDGs.