'Bahrain is still cost effective’

Chief Executive of the Bahrain Economic Development Board (EDB), Khalid Al Rumaihi,  downplayed the challenges from recent removal of subsidies and increases in petrol price and highlighted the fact that Bahrain is still the most cost-effective destination in the region. 

He added a recent KPMG study has highlighted this advantage, despite the difficult decisions the government was forced to take recently.

He stated that inflation might go up due to the recent decisions, but wont have much of any other impact.

He was speaking at a meeting organised by Bahrain India Society yesterday.  Prominent business personalities and other dignitaries attended the event.

Al Rumaihi said, “I always believed that the future of Bahrain lies in focusing on east and not west. Our ability to develop close relationship with Indian and Chinese economy will determine our future economic progress.”

Bahrain counted among the ‘freest economies’ has a unique position among its regional peers: a highly educated native workforce serving the private sector, he added.

He said US$30 billion investments expected over many projects in the coming years will be keenly watched and also added that private sector has an increasing role to play in driving business during tough times.

“This is not an infrastructure problem, but more of a process problem,” he noted.

“Ten million people visited Bahrain last year and tourism is a major part of Kingdom’s economy. How to make them spend more time in Bahrain and attract even more tourists is a question we are pondering,” he added. 

“A key challenge is the misconception regarding the Kingdom because of hostilities happening in other parts of the region, and EDB is working on developing a better image for the country,” he added.

Chairman, Bahrain India Society, Mohammed Dadabhai,  praised the role of EDB in driving the development of Bahrain and praised the leadership for enhancing the business prospects of the Kingdom and in enhancing tie-ups with other markets. 

He added the Bahrain India Society supports the government and will act as a bridge in enhancing the Kingdom’s relationship with India. “The look east policy of Bahrain will be a great launch pad for furthering India-focus,” he said. 

Caption : Khalid Al Rumaihi