Thursday 26 April 2018

Experts discuss diversification of Bahrain's economy

Manama, March 25, 2014

The Economic Development Board (EDB) and the Bahrain Institute of Banking and Finance (BIBF) jointly organised a panel discussion on the "Diversification of Bahrain's Economy".

Leading bankers, university lecturers and entrepreneurs were among participants at the key event held at the offices of the International Institute for Strategic Studies, located at the Bahrain Financial Harbour, reported the Gulf Daily News, our sister publication.

The panelists were Labour Market Regulatory Authority policy adviser to the chief executive Mohammed E Dito, BIBF head of banking centre Dr Subhadra Ganguli and EDB chief economist Dr Jarmo Kotilaine.

Key topics discussed included the importance of diversification for Bahrain's long-term development, the current status of diversification according to different indicators, as well as the need to match jobs with education and the labour market.

"Diversification has long been an important driver of growth in the kingdom and essential for achieving our knowledge-based economy aspirations," remarked Dr Kotilaine.

"Bahrain's efforts in this area started more than 40 years ago and today, the kingdom can be proud of the fact that it is one of the most diversified economies in the region, with sectors, such as financial services, making a significant contribution to the GDP and new, emerging sectors growing rapidly," he added.

Around 90 participants attended the closed-door discussion, including bankers, university faculty and students, public sector representatives, entrepreneurs, and business executives.-TradeArabia News Service

Tags: Bahrain | economy |

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