EDB outlines initiatives to develop Bahrain's key economic sectors

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

The Economic Development Board (EDB) will focus on several initiatives aimed at furthering economic growth and contributing to attracting direct investments across vital economic sectors in Bahrain to achieve the objectives of the Kingdom's Economic Recovery Plan, initiated by the directives of HM King Hamad bin Isa Al Khalifa, and following the approval by the Cabinet, chaired by HRH Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister.

The Economic Growth and Fiscal Balance Plan aims to create quality jobs and enhance Bahrain’s economic competitiveness.

EDB Chief Executive HE Khalid Ibrahim Humaidan noted that the plan aims to attract USD $2.5 billion in direct investment by 2023.

He also said the Board has successfully attracted increased investment between 2019-2020, indicating that the recovery plan prioritises supporting key sectors to boost economic development. The sectors include oil and gas, tourism, logistics, financial services, telecommunications, IT and digital economy, and manufacturing, in addition to launching Tamkeen’s new programs to stimulate medium and small companies in these sectors.

Mr Humaidan said that the development of these economic sectors will diversify the national economy and support its growth.

He also expressed confidence that the successful implementation of Bahrain's economic recovery plan will be facilitated by its highly qualified and skilled workforce.