The Minister of State for Foreign Affairs, Ghanim bin Fadhl Al Buainain, affirmed the comprehensive outlook of the Economic Vision 2030 for the Kingdom of Bahrain, launched by His Majesty King Hamad bin Isa Al Khalifa, which determines a clear destination for continued development in Bahrain’s economy as well as reflects objectives aimed at creating a better life for all Bahraini citizens.
He was speaking at the 28th session of the United Nations Economic and Social Commission for Western Asia (ESCWA), held in Tunis today (17 September, 2014) at the Republic of Tunisia under the theme "Challenges and Opportunities of Social Justice in the Arab Region".
The Minister of State for Foreign Affairs said that the Economic Vision 2030 is based on three main principles – sustainability, justice and competitiveness, adding that it was established after four years of extensive discussions with leaders in the public and private sectors, including the relevant governmental organisations, consultants and international organisations.
He said that the Economic Development Board launched a programme for economic and institutions reforms as part of the vision, and has a leading role in cooperation with various ministries to establish the first "National Economic Strategy" as a roadmap to achieve this vision.
The Minister of State said that the Kingdom of Bahrain established Tamkeen in August, 2006, as one of initial projects for national reforms and the Economic Vision 2030, which was responsible for developing the sector and enable it to be a key component in boosting the economy. Tamkeen aims at bolstering the process of establishing and developing institutions and provide support to boost productivity and growth among individuals and establishments.
He said there were also other programmes aimed at achieving these two objectives, which were established following extensive studies to establish the shortfalls in the labour market among individuals and establishments, and the means of resolving them. The Minister of State pointed out that Tamkeen pumped more than BD166 million in December 2011 in the Bahraini private sector through its various programmes, benefiting more than 100,000 of individuals and establishments.
He said that the financing capabilities of Tamkeen reached more than BD166m, enabling more than 3,000 citizens to find suitable jobs and supporting more than 1,000 establishments to take part in prestigious trade exhibitions in Bahrain and abroad.
The bureau aims at launching more than 20 new initiatives, varying from training to human resources development programmes, either for students, employees, businessmen or job seekers.
This is in addition to other programmes that boost the productivity of individuals and establishments by integrating the culture of the means to succeed in the private sector and others aimed at developing the performance of establishments, in addition to financing programmes and other national projects to promote investment in the Kingdom of Bahrain.
The Minister of State expressed his thanks and appreciation to the government and people of the Republic of Tunisia for the hospitality and the honour of the Kingdom of Bahrain to chair the 28th session of the ESCWA.
He affirmed the important role of the commission in encouraging economic and social development in countries in the region as well as bolstering cooperation for comprehensive development.
The Minister of State praised the UAE, who chaired the previous session, for its efforts and success, thanking the Executive Secretariat for its efforts in preparing for this session.
He affirmed the appreciation of the Kingdom of Bahrain to the session’s theme in view of its importance and the keenness of member states in regards to social justice to achieve the aspirations of the people in the region.
The Minister of State stressed the importance of reconsidering current development policies for others that are based on comprehensive studies and plans to achieve sustainable development and the inclusion of everyone in the decision making process at all levels.
He stressed the importance of the case of small and medium establishments, including its development and encouraging further creativity and innovation, which will result in bolstering growth and investment as well as encourage the youth in this regard.
This, at the end, will result in creating further job opportunities, reduce unemployment rates, increase incomes, combat poverty and improve standards of living, he said.