By Muhammad Rafiq
MANAMA: Resilience, innovation, and future-ready strategies took centre stage today at Gateway Gulf 2024, as 250 distinguished attendees, including government ministers and business leaders from around the world, convened for the first day of the investment forum. Hosted in Manama, Kingdom of Bahrain, on November 3 and 4, 2024, by the Bahrain Economic Development Board (Bahrain EDB), the forum brings together regional and global leaders to explore strategies for future-proofing industries and economies while highlighting some of the Gulf Cooperation Council’s (GCC) most exciting high-growth opportunities.
Held under the theme of “Investing for Resilience in a Fast-Changing Global Reality,” day one saw opening remarks delivered by H.E. Shaikh Salman bin Khalifa Al Khalifa, the Minister of Finance and National Economy for the Kingdom of Bahrain. This was followed by high-level discussions focused on addressing challenges in today’s economy, such as inflation and geopolitical tensions, alongside opportunities in digital transformation and the energy transition. Emphasizing the importance of long-term resilience and sustainable growth, the day’s agenda addressed pressing topics such as investing for resilience, adapting to a shifting global trade landscape, readying the workforce for a future economy, and decarbonising industry.
Key sessions included the opening panel discussion “Investing for Resilience in a Fast-Changing Global Reality.” Attended by H.E. Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, Kingdom of Bahrain, alongside H.E. Eng. Khalid bin Abdulaziz Al-Falih, Minister of Investment, Kingdom of Saudi Arabia, and Lord Gerry Grimstone, Former UK Minister for Investment at the Departments for International Trade and Business Energy and Industrial Strategy, the opening session underscored the necessity for growing regional integration, as well as technological innovation to leverage opportunities in the global economy, as well as mitigating current and future risks.
In line with the theme of navigating a rapidly shifting global economy, the panel discussion “Adapting to a Shifting Global Trade Landscape,” spotlighted strategies for nearshore manufacturing, particularly within high–growth, technology-dependent sectors, and examined implications for major trading hubs and global supply chains. Featuring H.E. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, Kingdom of Bahrain, alongside Henadi Al-Saleh, Chair of the Board of Agility, and Keith Svendsen, CEO of APM Terminals, the panellists stressed the need to modernize infrastructure and advance digitization efforts to minimize the bureaucracy related to global trade. The need to diversify trade routes and drive partnerships was also underscored as critical to overcoming potential disruption to global supply chains.
Additional highlights from day one of Gateway Gulf 2024 include the fireside chat “Towards a Future-Ready Workforce,” featuring H.E. Noor bint Ali AlKhulaif, Minister of Sustainable Development, Chief Executive of Bahrain Economic Development Board. In the session, H.E. AlKhulaif highlighted the importance of public and private partnerships for its efforts, the criticality of investing in upskilling for a digitized economy, and the advantages of collaboration across the GCC to enable talent mobility.
Providing a critical platform for governments and industries to explore solutions and strategies for sustainable growth in an uncertain world, Gateway Gulf 2024 not only addresses immediate economic challenges but also uncovers long-term opportunities across Bahrain and the GCC. By fostering collaboration and highlighting the region’s unique advantages—from technological advancements to progressive economic policies—Gateway Gulf reinforces Bahrain’s position as a leading investment destination and underscores the GCC’s pivotal role in the global economy.
