Bahrain, Egypt to boost trade ties

Manama : His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander, yesterday welcomed Abdelfattah Al Sisi, President of Egypt, to the headquarters of the Economic Development Board (EDB) at Bahrain Bay.

HRH Crown Prince, who is also Chairman of the EDB, noted the importance of the President of Egypt’s visit to the headquarters, which he said, provided the opportunity to observe one of the institutions central to Bahrain’s development. His Royal Highness further noted the crucial role the EDB continues to play in shaping the Kingdom’s investment environment.

His Highness expressed pride in the longstanding relations between Bahrain and Egypt, which continue to be strengthened under the leadership of His Majesty King Hamad bin Isa Al-Khalifa and the Egyptian leadership. HRH Crown Prince expressed his eagerness to explore new ways to enhance ties between the two countries through increased bilateral cooperation across the economic and investment sectors in particular. During the visit, President Al Sisi was briefed on the EDB’s extensive experience in securing foreign direct investment into the Kingdom. Also discussed was the role of the EDB in driving the development of the national economy in-line with Bahrain’s Economic Vision 2030, promoting principles of fairness, competitiveness and sustainability across the Kingdom and boosting employment opportunities for Bahrainis.

Al Sisi was briefed on the EDB’s role in promoting investment into financial services, ICT, logistics, manufacturing and tourism. 

The Egyptian President heard a presentation on Bahrain’s current investment projects in collaboration with the private sector, which promise to deliver $32 billion investment over the next five years.