Saint Petersburg: His Highness Shaikh Nasser bin Hamad Al Khalifa, Representative of His Majesty the King for Humanitarian Work and Youth Affairs, delivered a keynote address at the 28th Saint Petersburg International Economic Forum 2025 (SPIEF). The session was attended by eminent global leaders including His Excellency President Vladimir Putin of the Russian Federation, His Excellency President Prabowo Subianto of the Republic of Indonesia, His Excellency Ding Xuexiang, Chinese Vice Premier, and His Excellency Paul Mashatile, Deputy President of South Africa.
According to Bahrain News Agency, His Highness Shaikh Nasser bin Hamad Al Khalifa emphasized Bahrain's approach to economic development as a model shaped by long-term national planning, strong leadership, and international cooperation. He attributed Bahrain's current economic performance to a comprehensive development process guided by the strategic vision of His Majesty King Hamad bin Isa Al Khalifa and supported by the government led by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister. This framework has enabled the Kingdom to maintain steady economic growth, implement structural reforms, and increase its competitiveness in regional and global markets.
His Highness expressed gratitude to the Russian Federation for inviting Bahrain as the official Guest of Honour at the forum and thanked President Vladimir Putin for the invitation to participate as an official speaker at this prominent economic event. He conveyed the greetings of His Majesty King Hamad bin Isa Al Khalifa and His Royal Highness Prince Salman bin Hamad Al Khalifa to the Russian leadership and forum participants.
Reflecting on past collaborations, His Highness recalled the 2024 visit of His Majesty the King to the Russian Federation and his meeting with President Putin, which he described as a pivotal moment in the development of bilateral relations. This visit reflected the strength of friendship and mutual desire to enhance cooperation, forming a foundation for Bahrain's participation in the forum.
His Highness underscored the economic policies of the Russian Federation under President Vladimir Putin's leadership as key drivers of stability and growth, stimulating strategic sectors like energy and industry, and positively impacting the global investment environment. He highlighted Russia's successful expansion of economic ties, creating new trade opportunities and bolstering its position in the global economy.
Drawing parallels between leadership and art, His Highness cited a verse by Russian poet Alexander Pushkin, noting that the true value of leadership, akin to poetry, lies in inspiring hope and leaving a lasting human impact beyond statistics and economic indicators.
Bahrain's Economic Vision 2030, launched under His Majesty the King's leadership, serves as a national development framework guiding the Kingdom towards a sustainable future. It balances economic growth with environmental responsibility and has attracted foreign investment, strengthening Bahrain's economic capabilities through strategic initiatives, particularly in digital infrastructure and private sector development.
Looking forward, His Highness noted Bahrain's plans for a new national vision extending to 2050, focusing on innovation, digital transformation, sustainability, and income diversification. This direction reflects Bahrain's commitment to aligning with global developments for future preparedness through constructive international partnerships.
Human capital remains central to Bahrain's development, with investments in people forming the foundation for national progress. Bahrain has fostered public-private collaborations to empower young Bahrainis, contributing to a resilient economy adaptable to global changes.
Advancements in digital infrastructure have positioned Bahrain as a leading digital center in the region, supporting innovation and creativity. The digital economy is a core pillar of Bahrain's strategy to build a knowledge-based economy.
Strategic partnerships, including with the Russian Federation, have strengthened Bahrain's business environment, making it a stable and attractive investment destination. Bahrain continues to improve legal and regulatory frameworks to facilitate foreign investment and ease of doing business.
His Highness pointed to the Gulf Cooperation Council (GCC) as a model for promoting entrepreneurship and fostering an investment-friendly environment, recognizing innovation as key to sustainable development. The SPIEF serves as a platform to showcase Bahrain's economic initiatives and expand cooperation opportunities among global investors and entrepreneurs.
Investment, His Highness emphasized, is about enabling innovative ideas and transforming them into projects contributing to social progress and economic growth. Supporting innovation and nurturing entrepreneurship drive technological and economic advancement.
Global economic partnerships, His Highness noted, are essential for creating effective financing frameworks to support small and medium enterprises, the backbone of economies worldwide. Achieving this requires coordinated efforts to broaden investment opportunities and cooperation avenues.
Bahrain remains committed to well-considered economic policies for developing sectors focused on technological innovation and entrepreneurship, fostering a competitive environment for collaboration with other nations.
His Highness concluded by expressing appreciation to President Vladimir Putin for the invitation and the well-organized forum, underscoring SPIEF's importance as a platform for strengthening partnerships, particularly with the Russian Federation, in line with Bahrain's Economic Vision 2030.