Bahrain leads Arab states on economic freedom list

Among the 22 Arab countries, only six nations - five from the GCC and one from North Africa - could find themselves on the 2001 World Index of Economic Freedom.

The Arab countries listed in the table are Bahrain, the UAE, Kuwait, Oman, Saudi Arabia and Egypt.

Global leaders Hong Kong and Singapore are mentioned for comparison, according to the rankings provided by the Dubai International Financial Centre (DIFC). The list recognises countries that offer the highest level of freedom for foreign and regional businesses and investments.

Bahrain leads the table, being globally recognised as the ninth best country to do business in. Internationally, the UAE comes in as the 14th most free nation. It is followed by Kuwait ranking 42nd and Oman at the 48th place.

Saudi Arabia was the world's 75th free-to-do-business-in country, while Egypt ranks the 120th. The countries were ranked under a list of ten criteria including their Trade Policy, Fiscal Burden of Government, Government Intervention, Monetary Policy, Foreign Investment, Banking and Finance, Wages and Prices, Property Rights, Regulation and Black Market.

In terms of Trade Policy, Hong Kong and Singapore together, have the highest score of just one globally. Scores are granted from zero to five, with zero being the highest.

In comparison, from the Arab world, the UAE, Kuwait and Oman lead with the highest score of two, followed by Bahrain with three, Saudi Arabia with four and Egypt with five - the lowest score.

Regarding Fiscal Burden of Government, UAE leads the eight-country comparative list with a score of just 1.5. Bahrain and Hong Kong share the same score of two each, while Singapore and Kuwait together score 2.5 each. Oman and Saudi Arabia have the same score of 3, while Egypt again scores five.

Hong Kong was the only nation to score two in the Government Intervention category. Singapore, Bahrain, the UAE, Saudi Arabia and Egypt all share the same score of three, whereas a score of four was recorded each by Kuwait and Oman.

In the Monetary Policy category, all the countries mentioned scored one, except for Egypt, which has a score of two.

In terms of Foreign Investment criterion, Hong Kong and Singapore each scores one. Bahrain has a score of two, while the UAE and Egypt have a score of three each. Score of four was recorded each by Kuwait, Oman and Saudi Arabia.

In Banking and Finance, Bahrain and Hong Kong had the highest score of one each. Singapore has a score of two. The UAE, Kuwait and Oman have a score of three each. Saudi Arabia and Egypt have the lowest score of four in this category.

Bahrain, Hong Kong, Singapore and Oman have a score of two in the Wages and Prices factor. Whereas, a score of three is recorded each by the UAE, Kuwait, Saudi Arabia and Egypt.

Regarding Property Rights, Hong Kong, Singapore, Bahrain, the UAE and Kuwait each have a high score of one, followed by Oman, Saudi Arabia and Egypt with a score of three each.

In the Regulation category, Hong Kong and Singapore lead the table with a score of one, whereas the UAE and Bahrain follow with a score of two each. Kuwait, Oman and Saudi Arabia each have a score of three while Egypt recorded four.

In terms of the Black Market, The UAE shares the score of one with Hong Kong and Singapore. A score of two is recorded by Bahrain, Kuwait, Oman and Saudi Arabia. Egypt came in last in this category with a score of four.