Bahraini delegation participates in World Economic Forum

A high-level delegation from the Kingdom of Bahrain arrives today in Davos City, Switzerland, to participate in the World Economic Forum comprising governor of the Central Bank of Bahrain - (CBB)- Rasheed Al-Mi'raj, Cabinet Minister Kamal Ahmed Mohammed, CEO of the Economic Development Board Shaikh Mohammed bin Isa Al Khalifa as well as a number of VIPs from the private sector. The meeting is due to be convened during the period 25-29 January 2012 under the theme "great transformation: shaping new forms" in which world leaders gather to discuss latest global changes. EDB's CEO Shaikh Mohammed bin Isa Al Khalifa cited the need for governments continuous efforts in providing suitable environments in which private sector companies can flourish, and added that future economic growth all over the world depends on an active private sector that is capable of providing job opportunities, and therefore, governments should play a vital role in ensuring appropriate atmospheres to achieve goals through investment in education, infrastructures and training as well as legislation and alleviation of regulatory onus from companies. EDB's CEO Shaikh Mohammed bin Isa Al Khalifa partakes tomorrow in a session themed: "the role of entrepreneurs in the community) and shed light on the great economic depression in radically altering the community and major partners and influential entities in the new formula and how companies can ensure reconciliation with local communities as they carry out their business". It is worth mentioning that the Kingdom of Bahrain has ranked amongst the top twenty countries and the first in the Middle East in the list of countries that have a free economy, according to the Heritage Foundation Index of free economies published on the Wall Street Journal earlier this month. The Economic Development Board (EDB)is the main dynamo behind the implementation of the Bahrain Economic Vision 2030 led by EDB's President His Royal Highness Prince Salman bin Hamad Al Khalifa the Crown Prince. EDB expects the Kingdom of Barhain's economy to record 4% growth rate this year (2012) heralded by last year's significant growth rate in the financial and industrial sectors. (IY)