HRH Crown Prince Chairs EDB Meeting
His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, Deputy Supreme Commander and the Economic Development Board (EDB) Chairman today chaired at the Riffa Palace the EDB’s Executive Committee’s meeting.
During the meeting, the EDB’s Executive Director Shaikh Mohammed bin Isa Al Khalifa gave a presentation on what has been achieved so far during the first quarter of this year.
The presentation included a quarterly economic report, the first of its king in the kingdom, and highlighted the efforts exerted by the EDB, in cooperation with the concerned governmental bodies, to link the National Economic Strategy with the kingdom’s general budget along with the setting up of a general framework to improve creativity policies and the formation of a specialised team to handle that.
The presentation also shed light on the efforts exerted to attract investors to Bahrain as well the EDB’s promotional and marketing activities in the targeted markets and the challenges faced in this regard.
Moreover, Shaikh Mohammed bin Isa referred to the revision of the work systems and the registry and licensing e-systems and the attraction of many world companies into Baharain in order to create more job opportunities for Bahraini nationals.
He also pointed out to EDB’s endeavors to intensify its connection with the key social partners in order to raise awareness of the importance of the Economic Vision for Bahrain, 2030 and the different developmental and reform projects.
The EDB also reviewed the economic situation in the kingdom and assessed the benefits of increasing production, improving the governmental companies’ performance, the activation of Audit Court and the Tenders Council’s roles, the reform of the Human Resources Directorate and removal of obstacles facing investors.
Thanks to these reforms, Bahrain stands among the top 20 states in business practices, according the the World Bank’s report and the Heritage Economic Freedom Index.
The World Economic Forum’s report on world competitivity has shown that the kingdom’s economic performance also increased with production going up five folds from 2003 to 2008.
