Looking for new Opportunities!
BAHRAIN will fully harness its potential to continue turning challenges into opportunities and ambitions into achievements, it has been declared.
This is in line with the directives of His Majesty King Hamad to achieve the best for the nation and the citizens, as well as the constant follow-up of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, of government programmes in co-operation with the legislative branch and the private sector, within Team Bahrain.
The Cabinet, chaired by HRH the Crown Prince and Prime Minister, commended efforts made to this end, and noted the importance of working together in implementing the Economic Recovery Plan.
The weekly session at Gudaibiya Palace reviewed a memorandum by the ministerial committee for financial and economic affairs and fiscal balance, showing that 16 of the plan’s 27 programmes have been completed, with the remaining 11 to be finalised over the next few years.
The memorandum also details the improvement of economic indicators across numerous sectors as a result of the plan’s successes to date.
Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa separately met editors-in-chief of local newspapers online to update them on the progress of the implementation of the five priorities of the plan and its main objectives.
The minister pointed out that the plan’s implementation will not only continue but its pace will also be accelerated while ensuring the highest possible efficiency and quality levels.
Shaikh Salman indicated that economic diversification efforts will continue to increase the contributions of the non-oil sectors to the GDP in partnership with the private sector as a major engine of the economy.
In this regard, he commended the role played by all members of Team Bahrain in supporting various initiatives aimed at achieving economic recovery and enhancing fiscal stability.
Akhbar Al Khaleej newspaper editor-in-chief Anwar Abdulrahman asked the minister about the kingdom’s preparations over the expectation by experts of a potential global economic recession and market stagnation.
Shaikh Salman stressed Bahrain’s continuous efforts to achieve the best possible position in terms of serving global economies in various sectors.
“Our focus will be on improving the important sectors, namely logistics, tourism and communications. They are important sectors and Bahrain’s position must be improved in these three sectors, then we will add banking, oil and gas sectors,” he said.
Improving these sectors will make the kingdom a regional centre, the minister said.
He also said stagnation the world is facing today is the result of several factors, including the Russian-Ukrainian war, and its international consequences that affect global investment and economic activities.
Source: https://www.gdnonline.com/Details/1114252/Looking-for-new-Opportunities
