His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, Prime Minister, and Chairman of the Bahrain Economic Development Board (EDB), chaired the EDB’s Board of Directors meeting today at Gudaibiya Palace.
During the meeting, His Royal Highness commended the broad outcomes achieved by the Economic Development Board through its cooperation and collaboration with the Kingdom’s government agencies and the private sector, emphasising that their efforts are highly valued by all.
HRH the Crown Prince, Prime Minister, and Chairman of the Bahrain EDB emphasised that the success of investments are measured by the amount of lucrative employment and business opportunities yielded by that investment. In this regard, His Royal Highness noted the significance of Team Bahrain’s joint efforts in attracting investments that provide more opportunities for citizens, in line with the Kingdom’s goals of comprehensive development led by His Majesty King Hamad bin Isa Al Khalifa.
HRH Prince Salman bin Hamad underscored the importance of maintaining Team Bahrain’s momentum in advancing economic growth by strengthening public-private partnerships that deliver vital development projects, ultimately achieving shared economic objectives that benefit everyone.
HRH the Crown Prince, Prime Minister, and Chairman of the Bahrain EDB welcomed the newly appointed members of the Bahrain EDB board, expressing his best wishes for their success in achieving the EDB’s far-reaching economic goals. His Royal Highness also commended the efforts and contributions of the former board members during their tenure.
The Economic Development Board reviewed its achievements in the first half of 2024 and outlined strategies for attracting investments across priority sectors.
The Minister of Sustainable Development and Chief Executive of Bahrain EDB, HE Noor bint Ali Alkhulaif, then delivered a presentation, briefing the board members on the direct investments secured by the Board. These investments totalled BHD 399.2 million (USD 1.056 billion) from 62 local and international investment projects, with 40% representing new ventures and 60% being expansion projects.
The presentation highlighted that the manufacturing sector accounted for the largest share of diversified direct investments, followed by the tourism and financial services sectors. These cumulative investments are projected to create more than 5,400 employment opportunities within the next three years.
Key success stories across priority sectors were also presented, including investments from India-based semiconductor manufacturer Polymatech, Singapore Gulf Bank, a home-grown tech company ARRAY, Amana Healthcare, and the University of Strathclyde. Additionally, the Board reviewed a breakdown of Bahrain EDB’s extensive international investor outreach efforts across key target markets.
The Representative of His Majesty the King for Humanitarian Works and Youth Affairs, His Highness Shaikh Nasser bin Hamad Al Khalifa, the Chairman of the Board of Trustees of the Isa bin Salman Educational Charitable Trust, and Chairman of the Board of Directors of the Labour Fund (Tamkeen), His Highness Shaikh Isa bin Salman bin Hamad Al Khalifa, the Deputy Prime Minister, His Excellency Shaikh Khalid bin Abdulla Al Khalifa, the Minister of Finance and National Economy, His Excellency Shaikh Salman bin Khalifa Al Khalifa, along with a number of senior officials and members of the Board of Directors of the Economic Development Board, also attended the meeting.
(Source)
