Promote investment to stimulate growth in Bahrain! | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

Promote investment to stimulate growth in Bahrain!

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Government agencies are urged to adopt best practices to promote investment and stimulate Bahrain’s economic growth even during this time of pandemic.

The Cabinet made the call during yesterday’s weekly meeting held remotely and chaired by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister.

The Cabinet said that agencies will need to adopt effective investment strategies to cushion the impact of the global health crisis and cement the Kingdom’s position as the launchpad for the region’s interconnected market.

It congratulated Kuwait and its people on the occasion of its 60th National Day and 30th Liberation Day.

During the session, the Cabinet discussed a number of memorandums. It approved the following memorandums:

1. A memorandum from the Ministerial Committee for Financial and Economic Affairs and Fiscal Balance on initiatives to enhance the efficiency and quality of government service delivery.

2. A memorandum from the Minister of Transportation and Telecommunications on raising the minimum threshold to rent vehicles to 6 years from the date of manufacture instead of the current five years, a onetime measure in order to support car rental companies.

3. A memorandum of the Ministerial Committee for Legal and Legislative Affairs regarding the government’s responses to four proposals submitted by the Council of Representatives.

The Cabinet also reviewed a memorandum by the Minister of Cabinet Affairs regarding the percentage of completion of projects as part of the Government Action plan (2019-2022), which showed that the overall completion rate for project implementation reached 74% on average.

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1. A memorandum from the Ministerial Committee for *Financial and Economic Affairs and Fiscal Balance* on initiatives to enhance the efficiency and quality of government service delivery.

2. A memorandum from the Minister of Transportation and Telecommunications on raising the minimum threshold to rent vehicles to 6 years from the date of manufacture instead of the current 5 years, a onetime measure in order to support car rental companies.

3. A memorandum of the Ministerial Committee for Legal and Legislative Affairs regarding the government's responses to 4 proposals submitted by the Council of Representatives.

Secondly: The Cabinet reviewed the following topics:

1. A memorandum by the Minister of Cabinet Affairs regarding the percentage of completion of projects as part of the Government Action plan (2019-2022), which showed that the overall completion rate for project implementation reached 74% on average.

2. A joint memorandum from HE the Minister of Cabinet Affairs and HE the Minister of Housing regarding national reports on progress made in implementing the new urban plan for the United Nations Human Settlements Program.