BCCI - Bahrain Chamber of Commerce & Industry

04/29/2024 | Press release | Distributed by Public on 04/29/2024 05:42

'Bahrain Chamber receives HSBC Chief Economist, discusses regional economic prospect'

29 Apr 2024

"Bahrain Chamber receives HSBC Chief Economist, discusses regional economic prospect"

First vice-chairman of the Bahrain Chamber Khalid Najibi received on Wednesday 24th April 2024 at the Chamber's headquarters HSBC's Chief Economist for the Middle East, Turkey and Africa, Central and Easter Europe Simon Williams, who was accompanied by the Chief Executive Officer Joseph Ghorayeb and Head of Markets and Securities Services Batool Al Rahma.

Speaking at the meeting, Najibi emphasized Bahrain's robust banking sector, highlighting its contribution in strengthening the national economy. He praised banking and financial institutions for boosting commercial activity and driving economic growth in the Kingdom, all under the oversight of the Central Bank of Bahrain. Najibi touched upon the role of the Bahrain Chamber in Bahrain's economic landscape, voicing pride in its partnership with the government and relevant bodies in shaping the economic decision. He also spoke about Bahrain's distinguished position as a gateway to the gulf region, its wide spectrum of Free Trade Agreements, advanced infrastructure, and highly skilled workforce, In addition to the existence of an advanced legal system, which further cement its position. He stressed on the proactive approach undertaken by the government to keep abreast of economic changes and ensure economic growth, sustainability, and prosperity.

For his part, Williams hailed Bahrain's fast-paced developments and reforms, particularly at the economic stage. He highlighted Bahrain's success story in diversifying its source of income and commended the quality of the country's infrastructure and facilities. He further spoke about the position of the member states of the Gulf Cooperation Council as a unit, noting its strong growth rate which was between 2 and 4%, despite economic and geopolitical challenges. He affirmed that the 2 trillion US dollars GCC market, is an attractive and promising market for investors.

Also present at the meeting were the head of Bahrain Chamber's finance, insurance and tax committee Nader Rahimi, a committee member Mohammed Al Aali.

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