HRH CROWN PRINCE CHAIRS EDB MEETING

HIS ROYAL HIGHNESS  CROWN PRINCE SALMAN BIN HAMAD AL  KHALIFA, ECONOMIC  DEVELOPMENT BOARD (EDB)’S CHAIRMAN  TODAY ASSERTED THAT THE GLOBAL FINANCIAL  CRISIS HAS LITTLE EFFECT ON THE  REGION’S PROSPEROUS ECONOMIES,  AFFIRMING THAT BROTHERLY UAE OFFICIALS ARE ABLE TO DEAL WITH THE CRISIS  EFFICIENTLY.

HRH CROWN PRINCE WAS SPEAKING AS HE  CHAIRED THE  EDB EXECUTIVE COMMITTEE AT  RIFFA PALACE. HRH CROWN PRINCE NOTED THAT THE  ECONOMIC SITUATION IN BAHRAIN IS STABLE  AND REASSURING THANKS TO THE  BALANCED ECONOMIC POLICIES AND  PREVENTIVE PROCEDURES TAKEN TO PROTECT  THE KINGDOM’S SOLID FINANCIAL  POSITION.

FINANCIAL MINISTER SHAIKH AHMED BIN  MOHAMMED AL KHALIFA,  CENTRAL BANK  OF  BAHRAIN (CBB) GOVERNOR  RASHEED AL MARAJ AND EDB CHIEF EXECUTIVE  SHAIKH MOHAMMED BIN ISA AL KHALIFA  BRIEFED HRH CROWN  PRINCE ABOUT THE EFFECTS OF THE GLOBAL  CRISIS ON THE REGION AND THE MEASURES  TAKEN TO DEAL WITH ITS POSSIBLE  DEVELOPMENTS. CBB’S GOVERNOR CONFIRMED THAT BAHRAIN’S  FINANCIAL STATUS IS STABLE.

OIL AND GAS AFFAIRS MINISTER DR.ABDUL  HUSSAIN BIN ALI MIRZA GAVE A PRESENTATION  OUTLINING THE MINISTRY’S  INITIATIVES TO PRESERVE OIL AND GAS  SUPPLIES TO CATER FOR THE KINGDOM’S  NEEDS RELATED TO ELECTRICITY AND  INDUSTRY  SECTORS THROUGH BOOSTING BAHRAIN OIL  FIELD’S PRODUCTIVITY AND EXPLORING OTHER  OIL FIELDS TO SUSTAIN THIS VITAL  MATERIAL. 

WORKS MINISTER IN CHARGE OF WATER AND  ELECTRICITY AUTHORITY FAHMI BIN ALI AL  JUDAR’S PRESENTATION FOCUSED  ON THE MINISTRY’S INITIATIVES WITHIN THE  FRAMEWORK OF NATIONAL ECONOMIC  STRATEGY AND BAHRAIN ECONOMIC  VISION 2030.

THE PRESENTATION ALSO REVIEWED THE  MINISTRY’S PLANS TO INCREASE AND  DIVERSIFY WATER AND ELECTRICITY  PRODUCTION SOURCES. HRH CROWN PRINCE CALLED FOR THE NEED TO  USE ALL MEANS TO RATIONALISE ELECTRICITY  AND WATER CONSUMPTION,  ADDING THAT RESERVE ENERGY SOURCES LIKE  SOLAR AND WIND ENERGIES SHOULD ALSO  DEVELOPED.

IN THE END, HRH CROWN PRINCE ASKED CBB  GOVERNOR ABOUT WHAT HAS BEEN DONE SO  FAR IN BAHRAIN STOCK  EXCHANGE DEVELOPMENT PROJECT AND GAVE  DIRECTIVES TO SPEED UP ITS COMPLETION.