Manama: In line with the vision of the Ministry of Foreign Affairs to sustain a pioneering role in political and economic diplomacy with outstanding capabilities, and its keenness to consolidate and reinforce joint cooperation with all state institutions to contribute to the prosperity of the Kingdom of Bahrain, particularly in providing all facilities for those institutions that carry out their duties outside the Kingdom. In addition to following the basic objectives of the Economic Development Board in promoting the Kingdom of Bahrain as a leading business hub and its role I encouraging the flow of foreign direct investment as well as attracting capital to the Kingdom in a way that benefits the Kingdom of Bahrain and its people in all fields.In this regard, the Ministry of Foreign Affairs signed an agreement with the Economic Development Board (EDB), which took place in the Ministry’s General Court today. The agreement was signed by the Undersecretary of the Ministry of Foreign Affairs, Dr. Shaikha Rana bint Isa bin Daij Al Khalifa, and the Chief Executive Officer of Economic Development Board (EDB,) Khalid bin Amr Al Rumaihi.
This agreement aims at providing the Ministry of Foreign Affairs with the necessary offices in its diplomatic and consular missions abroad, and equipping them with all that’s needed to have EDB employees be able to carry out their assigned tasks outside the Kingdom, whether in marketing or promoting the Kingdom of Bahrain as a business hub, thus motivating the influx of foreign direct investment and attracting capital to the Kingdom, in addition to the Ministry’s contribution in minimizing hardships faced by employees assigned work abroad.The Undersecretary uttered pride to have concluded this agreement with the EDB, saying it embodies the existing cooperation between the two sides, in implementation of the directives of the Minister of Foreign Affairs, Shaikh Khalid bin Ahmed bin Mohammed Al Khalifa, and realization of the ministry’s vision.She hailed the excellent EDB programs and initiatives along with its role in attracting direct foreign investments, creating jobs in the local market and reinforcing economic ties with brotherly and friendly countries across the world.Dr. Shaikha Rana, while lauding the EDB’s attraction of foreign investments, she affirmed that this role would boost Bahrain’s standing among the countries of the region in terms of investment and trade. The Undersecretary of the Ministry of Foreign Affairs noted that the Kingdom of Bahrain enjoys a distinguished record of pioneering achievements through its constant commitment to implement developing policies and reforms that will help in achieving the Bahrain 2030 objectives, that was launched by His Majesty King Hamad bin Isa Al Khalifa. She also added that Bahrain 2030 embodies a comprehensive vision that creates a clear approach to develop the Kingdom’s economy and focuses on a main objective, which is to improve the standard of living of all Bahraini citizens.
Dr. Shaikha Rana bint Isa bin Duaij Al Khalifa also affirmed that the Kingdom of Bahrain, following the directives of His Majesty King Hamad bin Isa Al Khalifa, is pursuing an integrated approach of comprehensive development and adopting a national vision through which it aims to benefit from all the resources available to meet the aspirations of citizens and their needs in all sectors, including the housing, educational, health and other sectors, while balancing the three dimensions of sustainable development: the economic, social and environmental dimensions.She noted that the Kingdom of Bahrain has made a great progress in the field of economic and social development within a short period of just a few decades. She also added that in the era of globalization, the Kingdom must accelerate its efforts to maintain its leadership among countries. She further explained that economic boom in the region is the best opportunity to start making radical changes through which the Kingdom of Bahrain can accelerate its growth by identifying ambitions and developing strategies and plans that will enable it to turn these plans into reality. The Undersecretary also pointed out the need for coordination and effective participation among all segments of society to achieve success.
The Undersecretary of the Ministry of Foreign Affairs stressed that the Ministry of Foreign Affairs supports initiatives and projects that will enhance the economic climate of the Kingdom of Bahrain. She also thanked the Chief Executive Officer of EDB, Mr. Khalid Al Rumaihi, on his efforts that enhance the cooperation and coordination relations between the Ministry of Foreign Affairs and the EDB, noting the distinguished role played by the Council in the field of investments.For his part, the Chief Executive Officer of EDB, Mr. Khalid Al Rumaihi, expressed his great pride in enhancing the cooperation with the Ministry of Foreign Affairs through this agreement, which he believes will contribute to enhancing joint work and develop the appropriate framework for strengthening coordination at the level of the EDB to attract direct investments to the Kingdom of Bahrain in order to create job opportunities in the local market. He also added that the EDB works with the aim of combining the efforts and partnerships between the public and the private sectors in The Kingdom of Bahrain (i.e. Team Bahrain), in order to promote the business environment in the Kingdom of Bahrain and to facilitate attracting direct investments to the Kingdom, which will have a significant impact on economic development.
The EDB is responsible for attracting investments to the Kingdom of Bahrain and supporting initiatives to enhance the Kingdom’s investment environment. The EDB is also keen to make the Kingdom of Bahrain an attractive investment environment by working alongside the Government, the private sector and investors to shed light on the Kingdom’s economy as well as identifying investment opportunities. It also focuses on a number of economic sectors that benefit from the Kingdom’s competitive advantages and provide important investment opportunities, such as the financial services sector, manufacturing sector and other sectors, all in accordance with the Economic Vision 2030.
