Bahraini Crown Prince: We Are Advancing in Strengthening Our Strategic, Investment, and Economic Partnerships with Countries Worldwide

Manama, Nov 1 (KUNA) – Bahraini Crown Prince and Prime Minister Sheikh Salman bin Hamad Al Khalifa affirmed today that the Kingdom of Bahrain, under the leadership of King Hamad bin Isa Al Khalifa, continues to strengthen strategic and investment partnerships and expand economic cooperation horizons with various countries around the world, reflecting Bahrain’s vision of building robust economic ties that enhance its regional and international economic standing.

This statement was made during the opening of the fourth edition of the Gulf Gateway Forum, organized by the Economic Development Board, which was attended by Secretary-General of the Gulf Cooperation Council (GCC) Jasem Al-Budaiwi and several senior officials. The Crown Prince highlighted the importance of hosting and organizing economic events and forums that serve as effective platforms for exchanging views and expertise, showcasing investment opportunities, and strengthening economic relations between GCC countries and the wider world. Such initiatives contribute to enhancing GCC economic integration and expanding cooperation in the fields of economy, trade, and investment, thereby supporting development pathways.

He noted that in light of the changes and challenges facing the global economy, it is crucial to enhance international coordination and cooperation, intensify efforts to develop innovative visions and solutions to address these challenges, and capitalize on the opportunities they present. He emphasized the importance of building solid economic and commercial partnerships based on mutual interests, which contribute to economic growth, open broader horizons for trade and investment, support development trajectories, and enhance the capacity to keep pace with global economic transformations.

He stressed that continuing the path of economic development requires maximizing the use of available potentials and resources, diversifying the economic base, and enhancing the contributions of vital sectors to the national economy, alongside further developing the economic and investment environment to boost competitiveness, support sustainable economic growth, and pave the way for more promising opportunities.

He pointed out that Bahrain’s hosting of the fourth edition of the Gulf Gateway Forum embodies the Kingdom’s economic and investment strengths and the attractive, business-friendly environment it offers. He underscored the importance of building on achieved accomplishments in attracting quality investments and strengthening the Kingdom’s presence as a leading investment destination, thereby supporting the achievement of desired goals.

Bahraini Minister of Finance and National Economy Sheikh Salman bin Khalifa Al Khalifa delivered the opening address of the forum, stating that for thousands of years, pearl divers, traders, and travelers have met in Bahrain, finding openness, ambition, and the belief that the best achievements are realized when people come together to work for a better future for future generations, a journey that continues today.

He noted that our economies and peoples have faced unprecedented tests. In the face of unprecedented aggression, we have not retreated; rather, we have stood firm and decided to continue working more closely with our allies and partners to defend what we have built and renew our resolve to secure a brighter future for future generations.

He added that over the next two days, the Gulf Gateway Forum will witness more than 110 announcements worth over $20 billion USD, including new partnerships, investments, projects, and job opportunities. These announcements come at an exceptional stage for our region, where the combined GDP of GCC economies has reached $2.4 trillion USD.

He noted that non-oil sectors now account for more than 86 percent of the Kingdom of Bahrain’s gross domestic product and more than 77 percent across the Gulf Cooperation Council (GCC) countries. He clarified that Gulf banks hold assets exceeding $4 trillion, while GCC sovereign wealth funds manage investments worth over $5 trillion, underscoring that these figures reflect a region committed to building a more stable and prosperous future for its peoples. The Kingdom of Bahrain serves as the gateway to this region, a role we cherish and work diligently every day to earn. We achieve this by investing in three key pillars that are of paramount importance to investors: legislation, infrastructure, and, above all, citizens. The panel discussion addressed the most significant shifts in global trade routes, the evolution of economic alliances, and the prospects for expanding economic and investment partnerships, alongside an overview of the GCC states’ vision for strengthening their commercial and strategic ties and developing agreements with countries around the world. During the opening ceremony, the awarding of Golden Licenses to four new projects with total investments amounting to $3.89 billion in the Kingdom of Bahrain was announced. (End) K.N.A./G.A.