Finance minister reaffirms Bahrain’s push for economic diversification
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
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Bahrain is firmly committed to driving economic diversification through targeted policies and initiatives aimed at fostering growth in key sectors, affirmed Minister of Finance and National Economy, Shaikh Salman bin Khalifa Al Khalifa.
He made these remarks at the Standard Chartered Investor Forum, held during the World Bank and IMF annual meetings in Washington, USA, where Sustainable Development Minister Noor bint Ali Alkhulaif and Central Bank Governor Khalid Humaidan were also in attendance.
Shaikh Salman emphasized that Bahrain’s efforts align with the comprehensive development strategy led by His Majesty King Hamad bin Isa Al Khalifa and actively supported by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister.
The minister highlighted the nation’s positive economic indicators and projected continued growth into the next year. He underscored the critical role of non-oil sectors in driving economic development and contributing to GDP growth, reaffirming Bahrain’s commitment to implementing the Economic Recovery Plan, which prioritizes digital transformation to enhance efficiency and competitiveness.
GCC on path to sustainable growth
The Gulf Cooperation Council (GCC) countries are on the right track to achieving sustainable economic growth across all levels, noted Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy.
The minister said this while speaking in a panel titled "Gulf Economic Integration: Achievements and Aspirations," organized by the GCC General Secretariat in cooperation with the World Bank.
The session, held as part of the annual meetings of the World Bank and IMF in Washington, showcased GCC achievements in addressing global and regional challenges, strengthening competitiveness, and promoting economic integration.
Also participating were Mohammed bin Abdullah Al Jadaan, Saudi Finance Minister, Noora bint Sulaiman Al Fassam, Kuwaiti Minister of Finance and Acting Minister of Oil, and Ali bin Ahmed Al Kuwari, Qatari Finance Minister.
The minister underscored the importance of joint economic cooperation and integration to strengthen resilience against economic challenges faced by the region, enhancing competitiveness and driving inclusive, sustainable growth.
Shaikh Salman also emphasized the importance of investing in young national talent, creating an environment that nurtures their skills, particularly in the technology sector.
He noted that Bahrain has dedicated efforts to building and aligning its tech infrastructure with modern, innovation-driven practices.
The minister said that Gulf Cooperation Council nations are committed to enhancing global competitiveness and diversifying their economic base, which attracts promising investment opportunities and drives sustainable economic growth through stronger partnerships with the private sector, benefiting the nations and their people.
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