Event report
FCCIB organized a webinar with H.E. Shaikh Salman bin Khalifa Al-Khalifa
FCCIB, organized a webinar on Wednesday 9th March 2022, and had the honor to count as guest speaker H.E. Shaikh Salman bin Khalifa Al-Khalifa.
During the webinar, H.E. Shaikh Salman bin Khalifa Al-Khalifa, Minister of Finance and National Economy of the Kingdom of Bahrain, mentioned the massive impact of the coronavirus pandemic on the global economy and the efforts made by the Government to ensure the well-being of everyone living in the Kingdom of Bahrain.
In response to the pandemic, the Kingdom of Bahrain announced a new Economic Recovery Plan, a multi-year Plan which represents one of Bahrain’s largest economic reform programs, comprising 5 priority pillars and 27 initiatives.
The 5 priority pillars are:
- New Labor Market Reform Plan aiming to create 20,000 Bahraini jobs and train 10,000 Bahraini annually until 2024;
- Regulatory Reform Package aiming to support $2.5 billion of Foreign Direct Investement by 2023;
- Strategic Projects Plan catalyzing over $30 billion of investments;
- Priority Sectors Plan involving the implementation of six new sector strategies: oil & gas; tourism; logistics; financial services; telecommunications, IT and digital economy; and the manufacturing sector;
- Fiscal Balance Program Update seeking to eliminate the fiscal deficit and balance of Bahrain’s budget by 2024 through eight new fiscal reforms.
His insightful presentation was followed by a dynamic Q&A session. The webinar gathered more than 50 members and guests of FCCIB.
