Competitiveness and innovation drive sustainable economic growth

Manama :Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister HRH Prince Salman bin Hamad Al Khalifa yesterday evening visited the Majlis of Khalifa bin Ahmed Al Dhahrani and the Majlis of the Kanoo Family.

During the majlis visits, the Crown Prince highlighted that the Kingdom, under the leadership of His Majesty King Hamad bin Isa Al Khalifa, has increased competitiveness in a range of sectors, which has led to increased economic growth.

In this regard, HRH Prince Salman further highlighted that Bahrain has actively sought to encourage competitiveness to increase economic productivity, and to make innovation and creativity the main drivers of economic development.   

The Crown Prince noted that the sophisticated legislation and modern regulatory framework in Bahrain, which continues to develop with the cooperation of the Executive Authority, led by HRH the Prime Minister, and the Legislative Authority, forms the foundation of the next phase of economic development and openness.

 HRH Prince Salman went on to exchange Ramadan greetings with the majlis attendees, noting that the Holy Month of Ramadan represents compassion and unity among the community, and is representative of Bahraini customs and traditions.

The Crown Prince then spoke of the current economic challenges faced within the region and across the world, and highlighted the importance of strengthening and developing the role of non-oil sectors and diversifying the Kingdom’s economic portfolio to support long-term growth. He added that Bahrain has taken the appropriate significant steps in this regard, and that there must be collaboration amongst all to further strengthen economic diversification. He further highlighted that the Kingdom’s support to innovation and creativity within the non-oil sectors will contribute to raising Bahrain’s long-term economic competitiveness.

HRH Prince Salman added that the aspiration of government and citizens to achieve further GCC integration is based on a strong history of solidarity and collaboration across various issues. In this regard, he noted the steps taken to unify economic development policies between GCC countries.    

For their part, the attendees of the majlises expressed their gratitude for the Crown Prince’s visit, and noted that Bahrain’s sustainable economic plan, which is supported by HRH Prince Salman, will build a stronger economy based on sustainable development goals. 

His Highness Shaikh Mohamed bin Salman Al Khalifa, son of His Royal Highness, accompanied the Crown Prince during his visits.