Develop policies and legislation to achieve economic growth: Bahrain Finance Minister

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Economic growth is a continuous process that requires enhancing competitiveness through developing policies and legislation.

This was emphasised yesterday by Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa as he spoke during his participation in the 5th edition of the Future Investment Initiative, being held in Riyadh.

Competitiveness, Shaikh Salman said, should support openness and growth in various sectors of a country as well as innovative initiatives to achieve economic development in the region.

He pointed out that the Future Investment Initiative reflects the pioneering role of the Kingdom of Saudi Arabia in promoting the development role of the region and its competitiveness.

The minister described the initiative as a platform to exchange experiences and bolster cooperation to attract investments to the region and enhance economic diversity.

Shaikh Salman was part of a high-level delegation headed by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, in the forum held under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud.

The event is held under the chairmanship of Saudi Crown Prince, Deputy Prime Minister and Minister of Defence, HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud.

In a general discussion session run by former US Secretary of the Treasury and investment banker, Steven Mnuchin, Shaikh Salman shed light on many issues including economic recovery in the post-pandemic period, promoting financial stability in the Kingdom of Bahrain, challenges and opportunities in the Gulf economy, and the investment opportunities in the next five years.

Bahrain support

The minister commended success of Saudi Arabia in leading quality development initiatives in the region, stressing support of Bahrain to them.

He lauded strong ties binding the two brotherly countries, affirming Bahrain’s keenness on continuous bilateral cooperation in the financial and economic fields.

He also pointed out the measures taken by Bahrain during the coronavirus pandemic to protect people’s health, support the national economy and ensure stability of the labour market.