Bahrain Economic Vision 2030

Bahrain Economic Vision 2030 is a long-term development strategy launched by the Kingdom of Bahrain in 2008. It aims to transform Bahrain’s economy from one based on oil wealth to a more diversified, competitive, and sustainable model by the year 2030. The vision emphasizes private sector growth, human capital development, and sustainability, aligning with global economic trends and national aspirations.

Background

The Economic Vision 2030 was unveiled by His Majesty King Hamad bin Isa Al Khalifa in October 2008. It was developed by the Bahrain Economic Development Board (EDB) in consultation with international experts and stakeholders across Bahraini society. The initiative was designed to address structural challenges in the economy, reduce dependence on oil revenues, and promote inclusive growth.

Pillars

The Vision is built on three guiding principles:

• Sustainability: Ensuring long-term economic, social, and environmental viability.
• Competitiveness: Enhancing Bahrain’s global economic standing through innovation and efficiency.
• Fairness: Promoting equal opportunities and social justice for all citizens.

Strategic Goals

The Economic Vision 2030 outlines several strategic goals:

• Diversification of the economy by strengthening non-oil sectors such as finance, tourism, manufacturing, and ICT.
• Empowerment of the private sector to drive growth and job creation.
• Reform of education and training systems to align with labor market needs.
• Fiscal sustainability through prudent public finance management.
• Improved governance and transparency in public institutions.

Implementation

The Vision is operationalized through successive national development plans, including the Government Action Plans and sectoral strategies. Key reforms have included labor market liberalization, infrastructure investments, and regulatory improvements to attract foreign direct investment.

Progress and Challenges

Bahrain has made notable progress in expanding its non-oil economy, particularly in finance and tourism. However, challenges remain, including fiscal pressures due to fluctuating oil prices, rising public debt, and regional geopolitical tensions. The World Bank notes that Bahrain’s non-oil sector accounts for a significant portion of GDP, but fiscal consolidation remains critical for long-term stability.^[1]

International Cooperation

The United Nations Development Programme (UNDP) has supported Bahrain’s development agenda through technical assistance and policy dialogue. In 2025, the UNDP Executive Board endorsed Bahrain’s new country programme for 2025–2029, aligning with the Vision 2030 objectives.^[2]

See also

• Economy of Bahrain

External links

• Bahrain Economic Vision 2030 (Arabic PDF)