Manama: Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, participated in the first session of the "Towards Inclusive and Sustainable Economic Development" forum organised by the Shura Council. The session focused on Bahrain's core economic strengths and the Kingdom's approach to achieving long-term financial sustainability and balanced economic growth.
According to Bahrain News Agency, Ahmed bin Salman Al Musallam, Speaker of the Council of Representatives, and Ali bin Saleh Al Saleh, Chairman of the Shura Council, were present. Shaikh Salman bin Khalifa emphasised that the Kingdom of Bahrain, 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, has achieved notable economic milestones.
The Minister noted that these achievements are the result of strategic visions and comprehensive financial and economic plans aimed at sustainable growth, enhanced fiscal performance, and greater competitiveness to adapt to future developments. Shaikh Salman bin Khalifa highlighted that Bahrain's Economic Vision 2030, launched in 2008, has laid a clear path towards progress, contributing to the shift from an oil-based economy to a diversified and globally competitive and productive economy.
Shaikh Salman bin Khalifa outlined key programmes supporting economic diversification and investment attraction, including streamlined business procedures, supportive regulatory and legislative frameworks, continuous review of investment-related laws, transparency in processes and services, and the development of logistics services. He also noted ongoing initiatives such as expanding Tamkeen's programmes, advancing education and financial services, enhancing telecom infrastructure, investing in human capital, and encouraging innovation in promising sectors.
The Minister also reviewed Bahrain's Economic Recovery Plan, launched in October 2021, which prioritised job creation, improving the business environment, developing priority sectors, and promoting fiscal sustainability and economic growth. He noted that these efforts reflect the collective commitment of Team Bahrain to the nation's progress.
Shaikh Salman bin Khalifa added that these initiatives have strengthened Bahrain's economic diversification, with non-oil sectors now contributing approximately 86% of GDP, highlighting the success of policies aimed at reducing reliance on oil and broadening the national production base. The Minister also reviewed key strategic development projects currently underway across priority sectors such as industry, tourism, transport, energy, and education, implemented under integrated national strategies.
The forum aims to enhance dialogue and cooperation among constitutional institutions and to support the sustainability of economic development in Bahrain.