HRH the Crown Prince and Prime Minister chairs EDB Board Meeting

Manama, September 29 (BNA) His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Prime Minister and Chairman of the Economic Development Board in Bahrain, chaired the meeting of the Economic Development Board in Bahrain, at the headquarters of the Economic Development Board. Bahrain Bay. Economic and investment plans were reviewed, as were the achievements despite the challenges of COVID-19.

His Highness stressed that supporting economic growth is a continuous process that aims to enhance competitiveness and economic sustainability through innovative initiatives that stimulate the growth of various sectors in line with Bahrain’s Economic Vision 2030.

His Highness expressed his gratitude to the Bahrain team for their efforts in mitigating the repercussions of COVID-19. In this regard, His Highness pointed out the importance of continuing efforts during the recovery phase to achieve the comprehensive development goals of the Kingdom under the leadership of His Majesty King Hamad bin Isa Al Khalifa.

His Highness stressed that the performance evaluation will be based on the extent of success in making Bahrainis the first choice for employment in the labor market and in implementing projects and initiatives to create quality opportunities for all.

His Highness explained that the efforts made to secure sustainable economic recovery pale in comparison to the stability and opportunities it will create.

His Highness expressed his pride in the results achieved, which reflect the determination of the Bahrain team. His Highness stressed that solidarity and competitive spirit are essential to success.

His Highness indicated that the ultimate goal of the implemented programs is to provide economic stability and development for the benefit of our citizens. His Highness reiterated that the contribution of the private sector to the development of the Kingdom and its role as an economic engine creates opportunities by providing an open environment that supports sustainable growth.

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His Highness praised the efforts of the Bahrain team in promoting economic development through continuous partnerships between the public and private sectors and creating a legislative environment that promotes growth.

Furthermore, His Royal Highness highlighted the EDB’s successful efforts in attracting direct investment and creating opportunities. This has resulted in companies launching and expanding their operations in Bahrain, reflecting investor confidence in the Kingdom and its economy.

His Excellency Khalid Humaidan, CEO of the Bahrain Economic Development Board, presented to the Board of Directors the latest economic indicators and the performance of the Economic Development Board, which illustrate Bahrain’s position as an attractive investment destination.

Bahrain’s economy is expected to grow by 3.3% in 2021, making it the fastest growing market in the GCC (according to IMF figures) in 2021. Data from the Ministry of Finance and National Economy (MoFNE) Bahrain Economic Quarterly also indicated that growth rate. 5.7% in the second quarter, which indicates that the economic recovery is gaining momentum.

His Excellency Humaidan also participated in the performance of the Economic Development Board, which has succeeded so far this year in securing investments from 64 projects and companies that are expected to invest $505 million over the next three years and create 3,551 new job opportunities. This will be the first investment in the Bahraini market for 64% of projects and companies headquartered in 13 countries.

The most recent success has been the Citi Group Technology Center which will create 1,000 jobs for Bahraini programmers over the next 10 years.

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