Bahrain hosts "Towards Inclusive and Sustainable Economic Development" forum
Manama, May 18 (BNA): The Shura Council, led by Chairman Ali bin Saleh Al Saleh, launched the "Towards Inclusive and Sustainable Economic Development" forum. The event featured Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, as keynote speaker, with the participation of ministers, public and private sector representatives, and support from Bank of Bahrain and Kuwait (BBK) and the National Bank of Bahrain (NBB).
The forum is part of the Shura Council’s strategic initiatives to implement the directives of His Majesty King Hamad bin Isa Al Khalifa and His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, by supporting institutional cooperation and shaping sustainable economic development strategies in line with national goals.
In his opening remarks, Al Saleh highlighted Bahrain’s economic transformation in recent years, under HM the King’s leadership and HRH the Crown Prince and Prime Minister’s follow-up. He noted Bahrain’s transition from economic recovery to sustainable growth, grounded in structural reforms prioritising sustainability, equity, and equal opportunity.
Al Saleh commended the 2025–2026 state budget for its focus on social protection and living standards, achieved through productive cooperation between the executive and legislative authorities. He emphasised the maturity of Bahrain’s political process and the shared commitment to addressing citizens' priorities, including public support and housing projects.
He added that Bahrain is entering a new phase of strategic planning, requiring deep analysis of opportunities and challenges to build a competitive, resilient, and diversified national economy.
He described the forum as a platform for stakeholders, including government bodies, parliament, the private sector, civil society, and academia, to exchange ideas and shape Bahrain’s future economic vision through investment in human capital, technology, and innovation.
The Chairman underscored the legislative authority’s commitment to reviewing the forum’s outcomes, updating relevant policies and legislation, and fostering a legal and regulatory framework conducive to investment and innovation. He also emphasised continued consultation with all stakeholders to enhance Bahrain’s legislative and economic resilience.
The Chairman expressed appreciation to participants and organisers, including the Financial and Economic Affairs Committee chaired by Khalid Hussain Al Maskati, and Shura Council Secretary General Kareema Mohammed Al Abbasi, for their contributions to the forum’s success. He also thanked the forum’s sponsors for supporting national development efforts.
In the keynote session, Shaikh Salman bin Khalifa outlined the Kingdom of Bahrain’s economic strengths and strategic financial direction. He emphasised that under the leadership of HM the King and the follow-up of HRH the Crown Prince and Prime Minister, the Kingdom has recorded significant economic achievements. He attributed this to strategic financial and economic plans aimed at sustainable growth, fiscal strength, and national competitiveness.
Shaikh Salman bin Khalifa noted that Bahrain’s Economic Vision 2030, launched in 2008, has guided the transition from an oil-based to a diversified and productive economy. He reviewed key programmes supporting economic diversification, including streamlining business processes, regulatory reform, transparency, logistics development, labour market improvements through Tamkeen, and advancements in education, financial services, telecommunications, and innovation.
Shaikh Salman bin Khalifa also highlighted Bahrain’s Economic Recovery Plan, launched in October 2021, focusing on job creation, business facilitation, priority sectors, and fiscal sustainability, with full engagement from Team Bahrain. He said that non-oil sectors now contribute approximately 86% of GDP, reflecting the success of diversification policies.
The Minister also noted that major strategic projects are being implemented across different sectors such as industry, tourism, transport, energy, and education, as part of integrated national strategies aimed at supporting sustainable development.
The forum featured three panel sessions, which explored Bahrain’s competitiveness and investment policies. Speakers included Noor bint Ali Al Khulaif, Sustainable Development Minister.
The second session discussed the private sector’s role in diversification and sustainable growth through innovation and job creation, identifying challenges and opportunities. The third session reviewed achievements under Economic Vision 2030, the Recovery Plan, and priority sector strategies.
The forum concluded with the presentation of key recommendations by Financial and Economic Affairs Committee Chairman. These included enhancing legislative frameworks, strengthening institutional consultation, expanding public-private partnerships, supporting investment and innovation, and improving infrastructure and logistics for a more sustainable business environment.
Other recommendations focused on broadening incentive packages for promising sectors, aligning future strategies with Vision 2030 insights, and expanding training and qualification programmes aligned with labour market needs. The forum also called for greater integration of successful global public-private partnership models, enhanced digital infrastructure in banking, and balanced financial innovation policies.
The recommendations aim to align local strategies with international financial standards in fintech, support micro, small, and medium enterprises in high-value non-traditional sectors, and stimulate entrepreneurship to boost economic diversity and sustainable growth.
