The Kingdom of Bahrain’s biggest businessmen platform BCCI on Wednesday assured the members of the visiting International Monetary Fund (IMF) delegation that country’s economy would remain resilient in 2012 despite upheavals of 2011.
“Bahrain’s economy is capable to make up for the losses it incurred last year,” the Bahrain Chamber of Commerce and Industry (BCCI) top official said.
“The investment climate in Bahrain is still the most competitive in the region,” the BCCI official added.
The Chamber lauded the government’s efforts to further boost the kingdom’s infrastructure by raising the allocated budget, while prioritizing the private sector in carrying out projects. It also praised the $10 billion pumped by the GCC countries into Bahrain’s economy stressing that this will undoubtedly help the kingdom’s economy rebound.
“The incidents Bahrain underwent in the first quarter of last year have had repercussions on the general economic status and many sectors were affected. Yet, Bahrain was able to overcome the crisis with the minimum economic losses possible thanks to a robust national economy and the investors’ confidence in the Bahraini market.”
This was stated by the BCCI officials during a meeting held at Bait Al Tijjar between BCCI First Deputy Chairman Ibrahim Mohammed Ali Zainal and a delegation from the International Monetary Fund (IMF) led by David Robinson, the IMF GCC Department Chief.
Present were also BCCI Second Deputy Chairman Abdulhamid Abduljabbar Al Kooheji, Treasurer Othman Mohammed Sheriff, Deputy Treasurer Saqr Shaheen and Chief Executive Ibrahim Ahmed Al-Lanjawi.
“The current economic trends promote confidence in the business and investment climate in Bahrain and its competitiveness,” BCCI asserted pointing out that the aim is to build a promising economy on sound bases.
“The kingdom’s economic structure is solid and open for more development and investment projects in various sectors despite the losses it incurred due to the recent incidents,” Zainal emphasized underlining the government’s continuous support to the private sector.
“We are hopeful the Bahraini economy will regain vigour thanks to concerted efforts and given the many indices which confirm confidence in the kingdom’s investment climate.”