HRH Prince Salman: Successful investments yield jobs and business opportunities

TDT | Manama

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The success of investments is measured by the amount of lucrative employment and business opportunities yielded by that investment.

This was emphasised by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, Prime Minister, and Chairman of the Bahrain Economic Development Board (EDB), as he chaired the EDB’s Board of Directors meeting yesterday at Gudaibiya Palace.

During the meeting, HRH Prince Salman commended the broad outcomes achieved by the EDB through its cooperation and collaboration with the Kingdom’s government agencies and the private sector, emphasising that their efforts are highly valued by all.

He noted the significance of Team Bahrain’s joint efforts in attracting investments that provide more opportunities for citizens, in line with the Kingdom’s goals of comprehensive development led by His Majesty King Hamad bin Isa Al Khalifa.

Team Bahrain’s momentum

HRH the Crown Prince and Prime Minister underscored the importance of maintaining Team Bahrain’s momentum in advancing economic growth by strengthening public-private partnerships that deliver vital development projects, ultimately achieving shared economic objectives that benefit everyone.

The EDB Chairman welcomed the newly appointed members of the Bahrain EDB board, expressing his best wishes for their success in achieving its far-reaching economic goals.

His Royal Highness also commended the efforts and contributions of the former board members during their tenure.

Achievements and strategies

The EDB reviewed its achievements in the first half of 2024 and outlined strategies for attracting investments across priority sectors.

The Minister of Sustainable Development and Chief Executive of Bahrain EDB, Her Excellency Noor bint Ali Alkhulaif, delivered a presentation, briefing the board members on the direct investments secured by the Board.

These investments totalled BD399.2 million ($1.056 billion) from 62 local and international investment projects, with 40% representing new ventures and 60% being expansion projects.

The presentation highlighted that the manufacturing sector accounted for the largest share of diversified direct investments, followed by the tourism and financial services sectors.

These cumulative investments are projected to create more than 5,400 employment opportunities within the next three years.

Success stories

Key success stories across priority sectors were also presented, including investments from India-based semiconductor manufacturer Polymatech, Singapore Gulf Bank, a homegrown tech company ARRAY, Amana Healthcare, and the University of Strathclyde.