Manama, November 5 (BNA) following the announcement of the economic recovery plan for the Kingdom, which was launched under the directives of His Majesty King Hamad bin Isa Al Khalifa and after the approval of the Council of Ministers headed by His Royal Highness the Emir. Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, and His Excellency Khalid Ibrahim Humaidan, CEO of the Economic Development Board, announced that the Council will focus on many initiatives aimed at promoting economic growth and contributing to attracting direct investments across vital economic sectors to achieve the objectives of the plan.
The Economic Growth and Fiscal Balance Plan aims to create good job opportunities and enhance the economic competitiveness of the Kingdom of Bahrain.
Humaidan indicated that the plan aims to attract $2.5 billion in direct investment by 2023.
The CEO said that the Board of Directors succeeded in attracting increasing investments between 2019-2020, noting that the recovery plan prioritizes supporting key sectors to boost economic development.
The sectors include oil and gas, tourism, logistics, financial services, telecommunications, information technology and digital economy, and manufacturing, in addition to launching new Tamkeen programs to stimulate medium and small businesses in these sectors.
The CEO said that the development of these economic sectors will diversify the national economy and support its growth.
His Excellency Humaidan expressed his confidence that the successful implementation of Bahrain’s economic recovery plan will be facilitated by a qualified and highly skilled workforce.
NS