BAHRAIN is committed to enhancing competitiveness and providing quality opportunities for citizens, in line with the kingdom’s comprehensive development, led by His Majesty King Hamad, Deputy King His Royal Highness Prince Salman bin Hamad Al Khalifa has said.
He was chairing a meeting of the Economic Development Board’s (EDB) board of directors to review the developments of the Economic Recovery Plan and the latest economic indicators.
The Deputy King commended Team Bahrain’s determination to improve the kingdom’s economy and the importance of diversification and connecting with the global economy.
He praised the EDB board for attracting direct investment, creating opportunities for citizens, and strengthening the kingdom’s position as an investment destination and an attractive business centre.
Bahrain’s Economic Vision 2030 fosters co-operation between the public and private sectors, he noted.
Cabinet Affairs Minister Hamad Al Malki presented an update on the recovery plan, which showed that 17 of its 27 programmes are complete. This includes creating quality job opportunities to ensure citizens are the first choice in the labour market, facilitating commercial procedures and increasing their effectiveness, implementing major development projects, developing promising sectors, and achieving financial sustainability and economic stability by achieving fiscal balance by 2024.
Q2 financial statistics show that the recovery plan has contributed to remarkable economic growth during the second quarter of this year, as total real GDP grew by 6.9 per cent, the highest annual increase since 2011.
Chief executive Khalid Humaidan outlined the EDB’s success in attracting investment, with the volume of inwards investment up to 2021 totalling $33.5 billion, equivalent to 86pc of the kingdom’s GDP, exceeding the global average of 47pc.
View this post on Instagram
&uuid=(email))