On growth path

Crown Prince, Deputy Supreme Commander, First Deputy Prime Minister and Chairman of the Economic Development Board (EDB) HRH Prince Salman bin Hamad Al Khalifa chaired an EDB meeting in Riffa yesterday.

The Kingdom of Bahrain is implementing a comprehensive programme of structural, economic and fiscal reforms to further strengthen its long-term development. 

The programme is underpinned by three pillars: streamlining government expenditure; further redirecting government subsidies towards citizens; and a series of economic reforms and infrastructure projects worth more than $32 billion to increase investment and maintain growth. 

The Crown Prince noted during the meeting that the unprecedented infrastructure investment due to take place in Bahrain would make a vital contribution to diversification efforts and non-oil sector growth.

Speaking on the Kingdom’s comprehensive economic strategy, Prince Salman stressed that a key priority within the strategy was to further improve citizens’ living standards and provide sustainable job opportunities for all, and also emphasised that improving and modernising business and investment regulation was crucial to facilitating and fostering entrepreneurial opportunities.

During the meeting, EDB Chief Executive Khalid Al Rumaihi presented the EDB’s operational plan for 2016 and the target sectors that the EDB would focus on over the next 12 months.

Al Rumaihi highlighted that the EDB’s efforts in promoting the Kingdom in target markets - including in China and Germany - this year had resulted in a number of significant business deals.