Forum discusses ways to boost private sector growth
Manama, April 8, 2014
A high-level workshop organised by the World Economic Foundation (WEF) on "creating a supportive environment for private sector growth" was hosted yesterday by the Economic Development Board (EDB).
Attended by around 30 young leaders from around the Arab world, the workshop looked at the requirements for countries to foster growth in high productivity sectors, reported the Gulf Daily News, our sister publication.
Participants discussed ways of creating an entrepreneurial culture and spurring innovation in order to boost productivity, diversify the economy, drive high-value and resilient growth and create long-term, high quality jobs.
The session was held as part of WEF's Emerging Arabia Young Global Leaders Event, coinciding with the Formula One Grand Prix in Bahrain and was hosted by EDB chief economist Dr Jarmo Kotilaine.
Participants came from across the Arab world and included senior figures from the government, private sector and the media.
"Boosting the growth of highly productive industries is an essential part of fostering long-term prosperity - not just here in Bahrain and the Gulf, but across the Arab world," Dr Kotilaine said.
"Putting in place the foundations that help to create a culture of innovation and entrepreneurship that allows the private sector to thrive will be vital for making sure that we are able to create sustainable wealth and jobs now and in the future.
"These people are already occupying senior private sector roles across the Arab world, and it is fantastic that they are here to discuss the most pressing issues in our region," he added.
During their three-day stay in Bahrain, the delegates also met His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Premier and EDB Chairman, Culture Minister Shaikha Mai bint Mohammed Al Khalifa, PineBridge Investments Middle East chief executive Talal Alzain, and International Institute for Strategic Studies' representatives Dr Sanjay Baru, Dr Michael Elleman, Emile Hokayem and Dr Toby Dodge.-TradeArabia News Service