Touching tomorrow

Manama : The Deputy King yesterday welcomed more than 500 international investors and business leaders to Bahrain to explore as to how to unlock opportunities across the GCC.

Speaking to senior investors, business executives and government leaders at the Gateway Gulf, His Royal Highness Prince Salman bin Hamad Al Khalifa emphasised that the spirit of the forum is to establish new ways to join together to drive regional and global growth.

The Deputy King highlighted the regional opportunities available to investors, including the plethora of projects being showcased at the forum, noting that these opportunities reflect Bahrain’s wider strategy to increase the role of the private sector in driving economic development.

Over the course of the two days, investment opportunities worth $26 billion will be showcased, with the first day focusing on new developments in the oil and gas, power and energy, and real estate and tourism sectors. Meanwhile plenary sessions explored the economic transformation taking place across the GCC. The forum attracted a significant delegation from China to explore opportunities being created in line with the region’s strategic position on the Belt and Road initiative. Since 2014, Arab countries are estimated to have signed more than $50 billion in contracts with China. As an established gateway to the region, Bahrain is home to the regional bases of leading Chinese corporations including Huawei, Chinamex, CIMC and Bank of China.

Khalid Al Rumaihi, Chief Executive of the EDB, said the government and the private sector need to work together to create solutions and unlock opportunities in the region. “That means that government needs to change its approach, it needs to collaborate and be agile in order to respond to the changing opportunities being created. This is what we call our ‘Team Bahrain’ approach.”