Riyadh : Minister of Finance and National Economy Shaikh Salman bin Khalifa Al Khalifa stressed Bahrain’s keenness on diversifying its economic basis and moving from a consumer economy into a productive one. He noted continuous development of skills and experiences to achieve forecast goals and aspirations under the comprehensive development march led by His Majesty King Hamad bin Isa Al Khalifa, and the follow-up of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister.
The Minister of Finance and National Economy made the statement during his participation in a discussion session on funding and globally influential decisions. The session was held as part of the second day programme of the 6th edition of the Future Investment Initiative which is being held in Riyadh, the Kingdom of Saudi Arabia, under the theme “Investing in Humanity – Enabling a New World Order ”. Also participating in the session were Saudi Minister of Finance Mohammed Al Jada’an and former US Treasury Secretary and Liberty Strategic Capital Founder and Managing Partner Steven Mnuchin.
The Minister of Finance and National Economy pointed to the importance of unifying all efforts to reduce the effects of inflation and face the challenges of global supply chains, which led to raising energy and food prices. He also stressed the importance of providing adequate funding to handle climate changes, reduce carbon emissions, and support various sectors that promote economic growth, including the non-oil sectors. He also underlined the importance of taking advantage of the available opportunities to build a strong and sustainable economy based on diversity in the production process.
In this regard, the Minister of Finance and National Economy valued the initiative of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, to launch the Global Supply Chain Initiative, which is important for all countries around the world to participate in it and ensure backing efforts to support supply chains in these countries and the region.
The minister also pointed out the repercussions of the slowdown in economic activities in several countries around the world, in addition to the financial challenges faced by some countries due to the bad impact of the coronavirus pandemic on a number of economic sectors. He pointed out the importance of continuing joint efforts to face these challenges and maintain development. He noted the ongoing economic growth in the Gulf countries despite global challenges thanks to the wise visions of their leaders and the competence of their national cadres.
The Minister of Finance and National Economy affirmed Bahrain’s success stories in braving all challenges imposed by the coronavirus pandemic thanks to the dedication of its national cadres and their high sense of patriotism. He pointed out the efforts of Bahrain Team, under the Chairmanship of HRH the Crown Prince and Prime Minister, in taking proactive and preemptive measures to fight the pandemic and meet the requirements of economic development.
It is worth noting that the Future Investment Initiative aims to avail of the investment opportunities to fast-track economic development, support sustainable investment and prompt creativity and innovation to face diverse challenges. It also aims to shed light on emerging sectors that contribute to the future of the global economy.
