May 23, 2013
A Bahrain delegation led by Kamal bin Ahmed, Minister of Transportation and Acting Chief Executive of the Bahrain Economic Development Board (EDB), arrives tomorrow at the World Economic Forum (WEF) held at the Dead Sea, Jordan for the three day conference.
The WEF on the Middle East and North Africa (MENA) runs from 24th until 26th May and will gather regional and global leaders under the theme of “Advancing Conditions for Growth and Resilience”.
Kamal bin Ahmed said: “The MENA region is experiencing a period of profound change, but also tremendous opportunity, and this gathering represents a significant opportunity for representatives from the public and private sectors to interact. I look forward to discussions on creating the right conditions for youth driven entrepreneurial growth, as we recognise that in the Kingdom future leaders will shape the growth and development of our country.
“Furthermore, Bahrain has long been recognised for the strength in corporate governance and transparency, and with this being a key theme at the meeting we are looking to sharing best practices in governance and greater social resilience.”
In 2010 Bahrain launched a new Corporate Governance Code of Conduct designed to strengthen Bahrain’s position as the most established business and financial centre in the region and the gateway to the Gulf market valued at US$1.4 trillion. The code was devised over the course of eight years by the Central Bank of Bahrain in consultation with businesses and the OECD, and was benchmarked against more than 25 codes from other countries.
Bahrain saw GDP growth of 3.4% in 2012, with non-oil growth reaching 6.7%, including growth of more than 9% in manufacturing and 3.5% in financial services. Estimated overall growth in 2013 is expected to exceed 5% on the back of a rebound in oil production and ongoing expansion in the non-oil sector.
Notes to editors
About The Bahrain EDB
The Bahrain 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
Noora Abul, Bahrain Economic Development Board
Tel: +973 17 589 903