Examples of National Initiatives Supporting the Achievement of this Goal
Advancing Economic Diversification and Resilience
The Kingdom of Bahrain has pursued a long-term approach to economic diversification since the late 1960s, aimed at reducing dependence on oil and fostering a more resilient and competitive economy. These efforts have supported the expansion of non-oil sectors, which accounted for 85.8% of the Kingdom’s real gross domestic product (GDP) in 2025. Key contributors include financial services, manufacturing, logistics, information and communications technology (ICT), and tourism, reflecting the growing diversity of Bahrain’s economic base. With no single sector accounting for more than 20% of GDP, Bahrain’s diversified economic structure contributes to strengthening economic resilience, supporting sustainable growth, and creating new opportunities for investment and employment.
Skills and Gender Parity Accelerator
The Kingdom of Bahrain places particular emphasis on developing workforce skills and advancing gender parity in the labour market to meet the evolving needs of high-growth economic sectors. In January 2025, Bahrain launched the Skills and Gender Parity Accelerator, the first initiative of its kind globally, through a partnership between the Labour Fund (Tamkeen), the Bahrain Economic Development Board, and the World Economic Forum. Working closely with the private sector, the initiative focuses on identifying skills gaps, developing national talent, expanding women’s participation in high-growth sectors, particularly technology and industry, and strengthening their representation in leadership positions, contributing to a more inclusive, competitive, and future-ready labour market.
Empowering Entrepreneurs and Supporting SME Growth
The Kingdom of Bahrain places particular emphasis on encouraging entrepreneurship and supporting the growth and expansion of small and medium-sized enterprises (SMEs) through an integrated range of financial, training, and advisory programs tailored to different stages of business development. These initiatives include Tamkeen’s Mashroo3i program, which helps entrepreneurs transform their ideas into viable businesses, and StartUp Bahrain, which connects start-ups with investors and support organizations while facilitating access to opportunities and resources. In addition, the Riyada Business Acceleration Program, launched in 2024, supports high-potential enterprises in developing their capabilities, scaling their operations, and attracting investment. Together, these initiatives foster innovation, create employment opportunities, and strengthen the contribution of SMEs to economic diversification.
Financial Inclusion and FinTech Innovation
The Central Bank of Bahrain (CBB) has advanced financial inclusion through regulatory reforms and fintech innovation, including the launch of the Regulatory Sandbox in 2017, which enables fintech firms to test innovative financial solutions within a flexible regulatory environment. These efforts are complemented by Bahrain FinTech Bay, established in 2018 to support fintech development through incubators, accelerators, and strategic partnerships. To further expand access to finance, the CBB introduced measures aimed at increasing lending to small and medium-sized enterprises (SMEs), targeting a 20% share of domestic lending. In 2026, the Credit Rating Platform for Commercial Establishments was launched in partnership with BENEFIT to facilitate access to financing for businesses. Together, these initiatives contribute to a more inclusive, innovative, and accessible financial ecosystem in Bahrain.