Government ministers, business leaders and investors from around the world gathered in Bahrain for the first day of Gateway Gulf 2024, a forum focused on resilience, innovation and future-ready strategies.
Hosted by the Bahrain Economic Development Board (EDB), the two-day event, being held at the Four Seasons Hotel Bahrain Bay, aims to explore opportunities in the rapidly transforming GCC region.
Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa kicked off the forum, setting the stage for discussions on addressing global challenges such as inflation and geopolitical tensions.
This was followed by high-level discussions focused on addressing challenges in today’s economy, such as inflation and geopolitical tensions, alongside opportunities in digital transformation and the energy transition.
Emphasising the importance of long-term resilience and sustainable growth, the day’s agenda addressed pressing topics such as investing for resilience, adapting to a shifting global trade landscape, readying the workforce for a future economy, and decarbonising industry.
Key sessions included the opening panel discussion ‘Investing for Resilience in a Fast-Changing Global Reality’.
Attended by Shaikh Salman, alongside Saudi Arabia’s Investment Minister Khalid Al Falih, and former UK Minister for Investment Lord Gerry Grimstone, the opening session underscored the necessity for growing regional integration, as well as technological innovation to leverage opportunities in the global economy, as well as mitigating current and future risks.
In line with the theme of navigating a rapidly shifting global economy, the panel discussion ‘Adapting to a Shifting Global Trade Landscape,’ spotlighted strategies for nearshore manufacturing, particularly within high growth, technology-dependent sectors, and examined implications for major trading hubs and global supply chains.
Featuring Industry and Commerce Minister Abdulla bin Adel Fakhro, alongside Agility chairwoman Henadi Al Saleh, and APM Terminals chief executive Keith Svendsen, the panellists stressed the need to modernise infrastructure and advance digitisation efforts to minimise the bureaucracy related to global trade.
The need to diversify trade routes and drive partnerships was also underscored as critical to overcoming potential disruption to global supply chains.
Additional highlights from day one of Gateway Gulf 2024 include the fireside chat ‘Towards a Future-Ready Workforce’, featuring Sustainable Development Minister and Bahrain Economic Development Board chief executive Noor Al Khulaif.
In the session, Ms Al Khulaif highlighted the importance of public and private partnerships for its efforts, the criticality of investing in upskilling for a digitized economy, and the advantages of collaboration across the GCC to enable talent mobility.
Providing a critical platform for governments and industries to explore solutions and strategies for sustainable growth in an uncertain world, Gateway Gulf 2024 not only addresses immediate economic challenges but also uncovers long-term opportunities across Bahrain and the GCC.
By fostering collaboration and highlighting the region’s unique advantages from technological advancements to progressive economic policies Gateway Gulf reinforces Bahrain’s position as a leading investment destination and underscores the GCC’s pivotal role in the global economy.
avinash@gdnmedia.bh
Top stories for today:
BD150 insurance deposit for each work permit introduced
MPs propose BD500 million to boost living standards
Registration dates announced for Bahrain’s camping season
&uuid=(email))