Gateway Gulf 2024 Concludes

TDT | Manama                                                      

The Daily Tribune – www.newsofbahrain.com

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The second edition of Gateway Gulf 2024, hosted by the Bahrain Economic Development Board (Bahrain EDB), wrapped up on Monday, spotlighting the Gulf Cooperation Council’s (GCC) accelerating economic transformation.

Drawing a distinguished crowd of 250 ministers and global business and industry leaders, the forum underscored key high-growth sectors such as tourism, manufacturing, banking, and sports and leisure.

A key focus was how deeper integration among GCC member states can supercharge growth across these industries. During the panel ‘Tourism as a Growth Accelerator in the GCC’, H.E. Fatima bint Jaffer Al Sairafi, Bahrain’s Minister of Tourism, emphasized tourism’s role in economic diversification.

She detailed Bahrain’s Tourism Strategy 2022-2026, underscoring the potential of marketing the GCC as a cohesive destination.

Al Sairafi stressed the importance of collaborative government efforts to foster an environment where the private sector can flourish. H.E. Khalid Humaidan, Governor of the Central Bank of Bahrain, shared forward-thinking perspectives on banking in the session ‘The Next Ten Years of Banking’.

He highlighted the sector’s digital transformation, advocating for the adoption of advanced technologies like AI, cloud computing, and blockchain.

Humaidan balanced his vision with a focus on regulatory adherence and consumer protection. He proudly noted that Bahrainis make up 79% of the nation’s financial workforce, emphasizing the need for ongoing talent development and greater industry participation.

Meanwhile, H.E. Khalid Al Rumaihi, Chairman of Aluminium Bahrain (Alba), discussed opportunities in metals and manufacturing. Al Rumaihi pointed to Alba’s global aluminium success as a springboard for developing downstream industries.

He called for increased local content production, leveraging regional partnerships, and advancing renewable energy and Industry 4.0. Shaikh Salman bin Isa Al Khalifa, CEO of Bahrain International Circuit, reflected on Formula One’s immense impact on Bahrain’s global visibility.

Since 2004, F1 has attracted over 80 million viewers, with the venue hosting 363 events in 2023. Al Khalifa highlighted the sport’s economic contributions and its role in skill development, noting its expansion influence on the wider region.