Gateway Gulf 2024 concludes in Bahrain spotlighting region’s high growth sectors - Mubasher Info
Mubasher: The second edition of the investment forum Gateway Gulf has culminated on 4 November 2024 after two successful days, with the attendance of 250 ministers and global business and industry leaders.
The event, which was organised by the Bahrain Economic Development Board (Bahrain EDB), underscored the rapid transformation happening across the GCC.
Furthermore, Gateway Gulf 2024 highlighted the high growth sectors such as tourism, manufacturing, banking, sports, and leisure.
The second day of the event concluded under a core theme around the benefits that greater integration across the GCC can bring to the high growth sectors.
Bahrain’s Minister of Tourism
Fatima bint Jaffer Al Sairafi, Bahrain’s Minister of Tourism spoke in a panel session held under the theme ‘Tourism as a Growth Accelerator in the GCC’ where she tackled the critical role that tourism plays in the region's economic diversification.
Al Sairafi also discussed Bahrain’s Tourism Strategy 2022-2026, mentioning the opportunities related to promoting the GCC as a unified destination in line with governments working to establish the suitable environment to enable the private sector in order to advance Bahrain’s tourism offering.
Central Bank of Bahrain’s Governor
Meanwhile, Khalid Humaidan, Governor of the Central Bank of Bahrain (CBB), shared insights into the evolving financial sector in Bahrain during the panel ‘The Next Ten Years of Banking’ where he highlighted the necessity for digital transformation.
Humaidan shed light on how important it is to leverage advanced technologies like cloud computing, AI, and blockchain to drive innovation while keeping regulatory compliance and consumer protection balanced.
In addition to mentioning the need for broader industry engagement, the CBB Governor stressed the significance of access to talent, stating that 79% of those working in the country’s sector are Bahraini.
Aluminium Bahrain’s Chairman
In terms of strategies for diversification across metals, manufacturing, and heavy industries, Khalid Al Rumaihi, Chairman of the listed Aluminium Bahrain (Alba), spoke about the importance of building on Alba’s success in aluminium production to expand downstream aluminium industries in Bahrain.
Al Rumaihi also discussed the drive to boost local content production, namely of higher value chain products, in addition to the opportunities linked to closer regional collaboration as part of the shared goals and progress in renewable energy production and the implementation of Industry 4.0.
Earlier at the investment forum, Al Rumaihi noted that Saudi Arabia’s resources are enormous, mentioning in particular gold and copper.
Alba, meanwhile, unveiled its joint venture (JV) as part of the strategic partnership with Japan’s Daiki Aluminium Industry Company at the two-day event.
Bahrain International Circuit’s Chief Executive
Shaikh Salman bin Isa Al Khalifa, the Chief Executive of Bahrain International Circuit (BIC), introduced his insights into the significant impact of Formula One (F1) on Bahrain’s global visibility, mentioning that more than 80 million people have tuned in to watch the race since 2004.
Meanwhile, as a catalyst for the spread of F1 events to the UAE and Saudi Arabia, Al Khalifa noted that the Formula One venue hosted 363 events in 2023 which proved to be not only a sustainable business model but also supporting vital skills transfer at the same time.
Source: Mubasher Source: {{details.article.source}}