‘Public - Private sector tie-up to boost economy’ : Crown Prince

Manama : A key priority for the coming period is to strengthen the private sector’s role in driving economic growth, whilst working in parallel to transform the public sector’s role into that of a dynamic regulator and facilitator of growth, said Deputy King, HRH Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister.

The Deputy King stressed that enhancing collaboration between the public and private sectors will make an important contribution to accelerating economic growth. Prince Salman, who is also the Chairman of Bahrain Economic Development Board (EDB), was addressing the EDB’s board meeting at Riffa Palace yesterday.

During the meeting, the Deputy King highlighted the private sector’s vital role in achieving the goals of Bahrain’s Economic Vision 2030. He emphasised the role of Bahrain’s Economic Vision in driving wide-ranging initiatives that enhance the country’s economic environment and regulatory frameworks. “Bahrain will continue to build on its successful achievements to guarantee high-value opportunities for all citizens.” 

Prince Salman also commended the efforts of the EDB’s Executive team in supporting the EDB’s role in attracting investments. Chief Executive of the EDB, Khalid Al Rumaihi, gave a presentation outlining Bahrain’s latest economic developments. He explained about the EDB’s progress in implementing its strategy to further develop a number of key economic sectors, such as the Financial Services and ICT sectors. 

Al Rumaihi also noted the year-on-year real growth rate, which reached 4.5pc in the first quarter of 2016, and that the non-oil sector contributed 2.2pc and the oil sector 2.3pc.