Bahrain's regulatory environment is the fifth best in the world, according to a survey of 141 global economies.

And it is named as one of the top 20 freest economies in the Economic Freedom of the World 2009 report published by the Fraser Institute.

The area of regulation took into consideration credit market, labour market and business regulation.

Bahrain's strong position in the index further emphasises the findings of the Heritage Foundation's 2009 Index of Economic Freedom which earlier this year found Bahrain to be the 16th freest economy worldwide and the only country from the Middle East and North Africa (Mena) region to feature in the top 20 worldwide.

'In Bahrain our tried and tested regulatory environment and commitment to international standards have long offered an attractive business environment, particularly to companies looking to access the growing trillion dollar GCC market,' said Economic Development Board chief executive Shaikh Mohammed bin Essa Al Khalifa.

'Recent reforms, specifically in the areas of labour regulation, education and training, together with the continued investment in Bahrainis, ensure that companies in Bahrain continue to benefit from our skilled and professional national workforce.'-TradeArabia News Service