EDB continues supporting the private sector: EDB CEO

EDB CEO Shaikh Mohammed during a meeting with the leading companies in Bahrain
Under the directives of His Royal Highness Prince Salman Bin Hamad Al Khalifa, Crown Prince and Chairman of the Economic Development Board (EDB) to maintain a steady growth in Bahrain’s investments, the EDB has been in constant contact with the private sector over the past two months to proactively cater for their requirements and help safeguard their interest in the Kingdom of Bahrain.

In the past couple of months, the EDB organized meetings for its Chief Executive, Shaikh Mohammed bin Essa Al Khalifa, with senior officials from investment companies operating in Bahrain. The most recent series of meetings that went on for a week were attended by officials from 30 investment companies.

The objective of the meetings was to closely assess the work environment of these companies in the aftermath of the recent developments in the Kingdom. The discussions included exploring the types of support companies may require to help them continue their investments as expected, and maximizing joint cooperation between the public and private sector. The Kingdom encourages the private sector to play a leading role in the economy, while the government will continue regulate the market.

The Kingdom of Bahrain is likely to announce kick start of major stimulus package on the lines of the GCC $10 billion support package announced by the GCC for Bahrain. The sources confirmed that in addition to the GCC funded projects, the Government is also finalising the strategy to pump in millions of dollars into the economy with an aim to mitigating the affects of the two-months long protests in country.
Despite the negative impacts of the protests which slowed down the economic activities in the country, Bahrain is upbeat to achieve the 4.2% GDP growth this year as projected earlier, which is very encouraging sign for the investors and the businesses.

The EDB CEO Shaikh Mohammed held number of meetings with a number of Bahrain-based leading bankers, as well as members of the Capital Club where he discussed various business and financial aspects including ways to in enhance the investment environment in Bahrain.

The EDB assists investors who plan to bring their businesses to Bahrain by providing transparent information to them, logistic support to start their offices, and help them find trained and skilled Bahraini workforce to run their businesses according to the best standards.

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