Bahrain push to stimulate economy
Manama, May 6, 2009
Prime Minister Shaikh Khalifa bin Salman Al Khalifa stressed the government's resolve to forge ahead with plans to stimulate the economy.
Opening the gulfBID 2009 construction and interiors exhibition at the Bahrain International Exhibition and Convention Centre yesterday, the Premier singled out the sectors with much leverage on the economy, including the real estate market and the exhibition industry.
'The government is resolved to continue policies aimed at withstanding the fallout of the global meltdown,' he said.
'Despite our successful pre-emptive measures, Bahrain remains exposed to potential repercussions, being an integral part of the world.'
The Prime Minister expressed hope that the world would overcome the financial crisis and the economic growth momentum would be restored.
'The future outlook will be better as long as we remain prudent until the world economic crisis comes to an end,' he said.
The Premier said he was optimistic that growth momentum would be back on track in all economic sectors and stressed the importance of hosting specialised exhibitions, such as interior design and construction, as bringing added value to national economy.
'The government has drawn up a strategy to promote the exhibition industry and cope with modern trends in developed countries,' he said.
'There is an unprecedented demand in interior design due to the booming urbanisation in Bahrain.'
He urged intensive educational and training programmes for Bahrainis in such specialised fields.
'The needs of the interior design sector are more than the number of specialised Bahraini graduates from universities and national institutes,' he added.
He mentioned efforts to woo major exhibitors in the world to hold fairs in Bahrain through a comprehensive stimulus package of incentives.
Touring the different pavilions at gulfBID, he described interior design as a fast-growing component of the construction sector.
Companies were urged to profit from the gulfBID exhibition and keep abreast of global trends in the construction and interior design sectors.
Al Hilal Group chairman Anwar Abdulrahman thanked the Premier for supporting the show.
The move, he said, reflects the Premier's vital role in spearheading the development of the sector.
'The Premier's patronage sends a strong incentive for major companies to flock to Bahrain,' he added, praising the Premier's reputation and clout on the international arena.
Al Hilal Group of Bahrain and dmg world media Dubai are co-organising the annual event.
It runs until tomorrow.-TradeArabia News Service