Bahrain’s Finance Minister Highlights Economic Progress at Development Forum

Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, took part in the first session of the “Towards Inclusive and Sustainable Economic Development” forum held in Manama. The event, organized by the Shura Council, focused on Bahrain’s economic strengths and strategies for achieving long-term financial sustainability and balanced growth.

The session was attended by key national leaders including Ahmed bin Salman Al Musallam, Speaker of the Council of Representatives, and Ali bin Saleh Al Saleh, Chairman of the Shura Council.

During the forum, Shaikh Salman said Bahrain has achieved major economic milestones under the leadership of His Majesty King Hamad bin Isa Al Khalifa and the support of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister. He explained that these achievements were made possible through strategic planning and national development goals.

He stressed that Bahrain’s growth is based on its Economic Vision 2030, which was launched in 2008. This long-term vision focuses on shifting the economy from being oil-reliant to being diversified, productive, and globally competitive. It outlines clear steps to encourage private sector growth, innovation, and investment.

The minister shared that the government has worked on improving fiscal performance, supporting long-term sustainability, and boosting competitiveness to prepare for future challenges. These efforts include financial reforms, job creation, and investments in infrastructure and education.

He also mentioned that Bahrain has simplified business procedures, improved regulations, and introduced transparent legal frameworks to attract more investors. Updates to investment-related laws and continuous policy reviews have helped make Bahrain more business-friendly.

Shaikh Salman highlighted the role of Tamkeen, the Kingdom’s labour fund, in supporting young professionals and entrepreneurs. The expansion of its programmes has helped many Bahrainis start businesses, learn new skills, and join the workforce.

He also spoke about the importance of improving digital and physical infrastructure. Bahrain continues to invest in faster internet, better telecom services, and stronger logistics networks. These improvements aim to boost trade and attract global companies.

In addition, he reviewed the Economic Recovery Plan launched in October 2021. The plan focuses on five main goals: creating quality jobs for citizens, developing priority sectors, making the business environment more competitive, supporting sustainable finances, and increasing overall economic output.

The minister stated that these national plans are already delivering results. Today, non-oil sectors make up about 86% of Bahrain’s gross domestic product. This shows that the country is successfully reducing its reliance on oil and moving toward a broader and more stable economy.

He noted that Bahrain is implementing several key development projects across sectors such as industry, tourism, transport, energy, and education. These projects aim to create jobs, improve services, and raise the standard of living for all citizens.

The forum also aimed to encourage better cooperation between Bahrain’s constitutional institutions. The goal is to ensure that development plans are well coordinated and that all government bodies work together toward shared goals.

Bahrain continues to take active steps to prepare its economy for the future. By investing in people, supporting innovation, and building strong partnerships between public and private sectors, the Kingdom is laying the foundation for long-term growth.

As global economic trends change, Bahrain is adapting quickly. Its focus on economic diversification, fiscal responsibility, and digital transformation places it in a strong position to face future challenges.