Sustainable Development Minister, EDB CE participates in GCC side event on sidelines of IMF, World Bank annual meetings
Washington, Oct. 25 (BNA): Noor bint Ali Alkhulaif, Minister of Sustainable Development and Chief Executive of the Bahrain Economic Development Board, participated in a panel discussion titled “Human Capital: The Cornerstone of Economic Growth” as part of a side event organised by the Secretariat General of the Gulf Cooperation Council (GCC) and the World Bank, on the sidelines of the 2024 Annual Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF) in Washington D.C. The panel also featured Faisal F. Alibrahim, Minister of Economy and Planning of Saudi Arabia; Deemah Al Yahya, Secretary General of the Digital Cooperation Organisation; and Mr. Ousmane Diagana, Vice President of the World Bank for the Middle East and North Africa.
The GCC side event showcased the significant role the GCC economies play in the global economy and focused on their economic, investment, and trade positions, as well as their efforts to achieve economic integration and boost their competitiveness both regionally and internationally.
During the session, Minister Alkhulaif emphasised the importance Bahrain places on investing in human capital, recognising it as an engine for sustainable economic growth and development, and its commitment to creating high quality jobs, ensuring that Bahrainis are positioned as the first choice in the labour market, in line with the Kingdom’s Economic Vision 2030 and the Economic Recovery Plan.
She noted that these strategic investments have positively impacted Bahrain’s ranking in relevant global indicators, including the country’s ranking as second in the Arab world on the World Bank’s Human Capital Index, which reflects Bahrain's commitment to skill development as a means of supporting sustainable economic growth and advancing development and the successful impact of government efforts in this pursuit.
The Minister also highlighted the significant impact of human capital development on innovation and digital transformation, which contributes to enhancing productivity and economic growth. She emphasised Bahrain’s active approach in aligning workforce development with the current and future needs of the labour market, which helps bolster the competitiveness of Bahraini talent, locally and globally.
