Leading figures in various sectors tackle ways of Bahrain economy bouncing back post-coronavirus

TDT | Manama

The path to Bahrain’s economic recovery post-coronavirus was the major point of discussion in a remote forum featuring a group of leading economists and businessmen. The conference, entitled “Economic Recovery” and organised by Proact International Consultancy, included top figures in the sectors of the economy, banking, health, leisure, technology and media, among others.

The forum’s participants also reviewed investment opportunities and methods to meet the current challenges, as well as encourage the innovation required in the next stage, especially in the most affected sectors. Businessman Khalid Al Amin said that the Bahraini economy has sufficient flexibility to overcome the repercussions of the coronavirus (COVID-19) crisis. He expressed his belief that the economy will recover quickly once the precautionary measures imposed to curb the pandemic are eased.

Al Amin also pointed out that the integration of the Bahraini economy and its openness to the regional and global economies makes the acceleration of this recovery linked to the actions taken by other countries. Journalist Ibrahim Al Tamimi said that COVID-19 represents an opportunity to adopt a new methodology in the field of work, distance education, social communication, and others.

He noted that the post-coronavirus economic recovery is linked to a large extent to the timing of eliminating the virus or controlling it. Home Health Care Centre chairman Prof. Faisal Abdullatif Alnasir emphasised that the epidemic has changed many concepts among people and governments, especially in health services. “Some of these variables that occurred impose new priorities and establish how different health services are expected to be in the post-pandemic phase, and this necessarily reflects on the prospects and opportunities for investment in the health field,” Prof. Alnasir said. Arabic-language newspaper Al Bilad editor-in-chief Moanes Al Mardi commented: “There is an optimistic view of the speed of the economy recovery post-coronavirus; unfortunately, most of the economic forecasts say otherwise, so we need to understand the effects of the economic downturn that will last for decades and we will see a change in the economic landscape.”

Ministry of Information Affairs Media Affairs Adviser Dr. Lelwa Bodlama addressed in a working paper presented during the forum the differences of public confidence in the media before and during the coronavirus, and the forward-looking role of formal and informal media in crises. Bahrain Economists Society president Dr. Ali Almoulani answered questions about the impact of the financial and economic package announced by the government on the movement of the Bahraini economy.