Bahrain's multicultural population has helped the country pioneer the way amongst the GCC towards a diversified economy, the Finance and National Economy Minister said.
At a Press conference yesterday, on the sidelines of Pope Francis’ landmark visit to Bahrain, Shaikh Salman bin Khalifa Al Khalifa highlighted that Bahraini citizens and residents of all faiths had made it the economic and cultural hub it is today.
The minister noted that Bahrain had been ranked as the top country with economic freedom by the Fraser Institute as it moves towards further diversifying its economy into tourism, logistics, manufacturing, financial services and oil and gas. Bahrain’s 6.9 per cent real GDP growth seen so far this year is a result of a five-pillar approach to reforming the economy, which includes job creation, government procedural simplification, $30 billion of strategic projects, economic diversification and sustainability, he said.
As the country looks to unveil strategic investments to achieve His Majesty King Hamad’s Vision 2030, sustainable development is at the core of every new project, with none being green-lit without appropriate environmental studies, Sustainable Development Minister Noor Al Khulaif told the GDN.
“No work will start on projects until feasibility studies are completed, which should be done and announced soon,” Ms Al Khulaif added.
She also said that Bahrain was ahead of its climate change targets set last year at the 26th United Nations Climate Change Conference of the Parties (COP26) in Glasgow, noting that 140,000 trees had been planted and phase two of the island’s afforestation plan would soon be initiated.
Speaking at the COP26, His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, had vowed to quadruple Bahrain’s mangrove coverage, double the number of trees and directly invest in new carbon capture technologies. He also pledged to lead by example and cut the country’s emissions by 30 per cent by 2035.
Meanwhile, Tourism Minister Fatima Al Sairafi addressed journalists in the evening, announcing plans to further collaborate with Saudi tourism authorities to boost the sector.
She noted that Bahrain has seen one of the highest rates of recovery in the tourism sector, with current levels hitting 80pc of pre-pandemic levels.
Ms Al Sairafi said visits like the Pope’s have the potential to boost religious tourism, which comes in line with further development of the Manama Suq, which boasts a high concentration of religious places of worship per capita.
Information Affairs Minister Dr Ramzan Al Nuaimi also said that historic events like the Pope’s visit gave an opportunity for Bahrain to be highlighted on the global stage.
More details about how this could be done on an ongoing basis or in collaboration with diplomatic missions already present in the country were not provided.
naman@gdnmedia.bh
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