The Gulf region’s competitive environment as a driver for sectoral growth and sustainable development has come in for high praise.
Isa Bin Salman Education Charitable Trust board of trustees chairman and Tamkeen board of directors chairman Shaikh Isa bin Salman bin Hamad Al Khalifa affirmed the role of GCC countries in driving economic growth, emphasising how their developmental visions have positioned them at the forefront of economic progress globally.
This came as he attended a session titled ‘Economic Diversification and Its Impact on Sustainability: The Role of the Gulf Co-operation Council Countries in Global Economic Growth’ at the World Economic Forum (WEF) 55th annual meetings.
The session, organised by the GCC General Secretariat, witnessed the participation of Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa and other GCC Finance Ministers.
Shaikh Isa stressed the importance of fostering joint co-operation and economic integration, noting how these efforts help achieve the kingdom’s comprehensive development goals in alignment with GCC leaders’ far-reaching visions.
He underscored the significance of international conferences, like the WEF, in addressing global challenges, fostering knowledge exchange, and sharing best practices to promote sustainable economic growth.
The Finance and National Economy Minister stressed the importance of adopting innovative policies and strategies that align with climate objectives and development priorities.
He highlighted the GCC’s commitment to strengthening unity and promoting economic diversification across vital sectors to achieve sustainable growth in line with the kingdom’s aspirations.
Shaikh Salman also noted the strategic advantages of the GCC’s geographic location, which positions it as a significant investment and trade hub. “The GCC is Asia’s sixth-largest trading partner and the European Union’s second-largest,” he added.
The session addressed several key issues, including the GCC global economic achievements, innovative responses to challenges, and sustainable development commitments. It also covered the GCC policies to integrate economic, environmental and social objectives for long-term sustainability.
Technological innovation was highlighted as a driver of economic reform and diversification, particularly in emerging industries.
The session explored ways to enhance international partnerships to drive economic growth, attract investments and promote competitive business climates.
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