April 07, 2014
Manama: The Economic Development Board (EDB) today hosted a high-level workshop attended by around 30 young leaders in a number of sectors from around the Arab world and organised by the World Economic Foundation (WEF), which explored how countries in the region can create a supportive environment for private sector growth.
The workshop began with a look at the requirement for countries to foster growth in high productivity sectors, after which participants discussed ways of creating an entrepreneurial culture and spurring innovation in order to boost productivity, diversify the economy, drive high-value and resilient growth and create long term, high quality jobs.
The session was held as part of WEF’s Emerging Arabia Young Global Leaders Event, coinciding with the Formula 1 Grand Prix in Bahrain and was hosted by Dr Jarmo Kotilaine, Chief Economist at the EDB.
Participants came from across the Arab world and included senior figures from the media, journalism, government and the private sector. The delegates spent three days in Bahrain, including meetings with His Royal Highness Prince Salman Bin Hamad Al-Khalifa, the Crown Prince of Bahrain, First Deputy Prime Minister, and Chairman of the Economic Development Board (EDB); H.E Shaikha Mai Bint Mohammad Al-Khalifa, Minister of Culture; Talal Al Zain, CEO PineBridge Investments Middle East; and Dr Sanjay Baru, Dr Michael Elleman, Emile Hokayem and Dr Toby Dodge of the International Institute for Strategic Studies.
Dr Jarmo Kotilaine, Chief Economist at the EDB, said:
“Boosting the growth of highly productive industries is an essential part of fostering long term prosperity – not just here in Bahrain and the Gulf, but across the Arab world. Putting in place the foundations that help to create a culture of innovation and entrepreneurship that allows the private sector to thrive will be vital to making sure that we are able to create sustainable wealth and jobs now and in the future.
“We are delighted to welcome these young leaders to Bahrain. These people are already occupying senior private sector roles across the Arab World, and it is fantastic that they are here to discuss the most pressing issues in our region.”
About The Bahrain Economic Development Board (EDB)
The Bahrain Economic Development Board (EDB) is a dynamic public agency with an overall responsibility for attracting inward investment into Bahrain, and is focusing on target economic sectors in which the Kingdom offers significant strengths.
Key areas of focus include manufacturing, ICT, and logistics and transport services as well as other sub-sectors. The Financial Services sector in Bahrain is particularly strong and the EDB supports in the continuing growth of the banking industry and key sub-sectors, including Islamic Finance, Asset Management, Insurance and Re-Insurance.
For more information on the Bahrain EDB visit www.bahrainedb.com; for information about Bahrain visit www.bahrain.com
Further information please contact:
Economic Development Board
Tel: +973 17 589 966