Berlin, 22 November 2011:  The Bahrain Economic Development Board (EDB) launched a new International Placement Programme (IPP) for young Bahraini graduates and professionals this week during its business development roadshow to France and Germany.  The new programme, to be overseen by Tamkeen, will provide young Bahrainis with the opportunity to become immersed in a new language and culture while providing practical, long-term work experience in one of Bahrain’s key trading partners.

The IPP seeks to create a cluster of young Bahraini professionals with international experience working in the home markets of key international companies worldwide including French and German companies.   During the first five months of the programme, the candidates will learn the local language before taking on a work placement with one of the corporate partners to this initiative.   The objective of the programme will be for candidates to gain the necessary expertise and skills to take on challenging positions within the companies’ Bahrain operations on their return to the Kingdom.

Speaking at Gala dinners in Paris and Berlin where the IPP was launched, Shaikh Mohammed bin Essa al-Khalifa, EDB Chief Executive said:  “Bahrain prides itself on the investment already undertaken in education and skills training.  Already, we are recognised for the highly skilled workforce we offer to international companies looking to base operations in the GCC.  However, improvements can still be made.  The IPP will provide a fast track for talented Bahrainis and enable our international business partners based in Bahrain to draw on an ever wider talent pool.”

Tamkeen CEO, Mahmood Al Kooheji said:  “The IPP provides opportunities to young Bahrainis to gain international work experience, skills and professional knowledge which they can use to great effect on their return to Bahrain.  It will enable them to gain a cross-cultural understanding on business demands and help develop a global perspective ever necessary in the competitive and interdependent international marketplace.  Tamkeen will provide funds and oversee this programme in conjunction with local educational establishments and international private sector partners.”

To date GSE, Groupe-6, Unanime and Technal of France, and Hochtief, RMA and BASF of Germany have all signed up to the programme.  Further companies are due to confirm over the coming days.  Placements are expected to incorporate a range of professional disciplines, including banking, finance, accounting, ICT, architecture and engineering.

For more information, please visit www.bahrainedb.com

Fund Forum Logo

Summary FundForum Middle East is delighted to announce a packed schedule for its 4th annual event.  With a main conference spanning 3 days (4 – 6 October) at the Diplomat Radisson Blu Hotel, Manama, Kingdom of Bahrain,  FundForum Middle East 2010 will attract in excess of 350 of the leading players in the region. 

21 September 2010, London.  FundForum Middle East is delighted to announce a packed schedule for its 4th annual event.  With a main conference spanning three days (4 – 6 October) at the Diplomat Radisson Blu Hotel, Manama, Kingdom of Bahrain,  FundForum Middle East 2010 will attract in excess of 350 of the leading players in the region.

Presentations and panel debates with industry leaders like Alan Durrant, National Bank of Abu Dhabi and Farah Foustok of ING Investment Management Middle East will allow delegates to learn about the hottest developments and potential issues to consider when doing business and investing in the Middle East.

Bahrain itself has been a regional leader in fund management since the 1980s, offering the largest range of investment funds in the Gulf. The Kingdom is home to more than 2,700 funds – of which over 130 are Bahrain domiciled and nearly 60 are Islamic.  The Kingdom is the ideal location for the conference and for the fund management industry to access the ‘trillion dollar Gulf market’, according to Shaikh Mohammed bin Essa Al Khalifa, Chief Executive of Bahrain’s Economic Development Board (EDB) which is again supporting the event.

“The GCC is now a trillion dollar economy with a high concentration of High Net Worth Individuals,” he says.  “As the most established financial centre in the Gulf and with fund management having been an important part of our own financial services sector for nearly thirty years, we’re delighted to welcome the FundForum back to Bahrain to discuss the opportunities ahead.”

“One thing is clear, in this highly specialised market, one size does not fit all”, adds Sarah Heery, Conference Director. “At FundForum Middle East, we have embraced that diversity and built a programme that allows delegates to balance their specific knowledge gathering requirements with opportunities to meet colleagues in formal and informal environments”.

Each day has been individually themed, enabling topic clarity and flow of ideas. Day 1, 4th October, positions the Middle East region in a global context asking questions like “what can the Middle East gain from the recent global economic crisis?” and “is Islamic finance a truly international phenomenon?”.  On 5th October, the focus shifts to specific MENA regional issues such as “Where are the yield enhancing properties of the MENA investment to be found?” and “how robust is the GCC debt market?”  The third day, 6th October, looks to the future, examining key diversification strategies & new investment opportunities for a post-crisis world and best-practice for meeting clients’ asset allocation requirements in this new environment.

In parallel summits on 3rd October, FundForum Middle East 2010 enables dialogue between fund selectors, asset allocators and investment managers for enhanced wealth management in the MENA region, and brings special focus to the future of the Saudi Arabian investment & wealth management business.  A master class in raising funds in a Sharia compliant environment on 7th October, closes this years conference where Dr Aly Khorshid, Islamic Scholar & CEO, Elite Horizon will guide delegates through the different principles involved in raising funds within an Islamic investment universe to successfully attract the huge pools of liquid cash available.

18 August 2010, Manama:  Global education experts are to get a glimpse into the ‘classroom of the future’ at a forthcoming summit in Bahrain, it was announced today.

Ewan McIntosh

The use of technology and entertainment to improve learning outcomes is just one topic for debate at The Education Project where leading international figures from academia, business and politics will convene to advance the global education system.  The forum is held each year in the Kingdom, having been founded under the initiative of His Royal Highness Prince Salman Bin Hamad Al Khalifa, the Crown Prince of Bahrain and Chairman of the Kingdom’s Economic Development Board (EDB).  This year’s event is less than two months away (8-10 October) and features a ‘live experiment’ showcasing technologies that may boost engagement in a futuristic learning environment.

Ewan McIntosh, Director at NoTosh Digital Media & Education in Scotland, is among a high-profile list of speakers at the event.  He said: “In the 1980s, a text book might have been the best way to share expertise but now there is a whole world that lets students learn at the click of a mouse.  We learn by sharing and talking, not by staying in classrooms with the door shut.  We have to get out in the world and that does not always mean field trips; now it is out in the blogosphere.  Everyone involved with a child’s learning needs to understand the ways they are engaged.  Parents have to be engaged too, and understand the changes in the classroom since their day.  In today’s world, that means being open to the possibilities of game-based learning – such as using Wii Fit and Guitar Hero – as launch pads into subjects such as maths, physics and geography.”

Educators anticipate that scientific advances in understanding more about how the brain works will allow them to shape a more effective learning environment in the future.  With it will come enhanced opportunities for individualised teaching to better engage with – and meet the specific needs of – each student.

Cindy Johanson, Executive Director of The George Lucas Educational Foundation, has more than 20 years experience in the design and expansion of digital services with a focus on education and engagement.  She added: “In light of extraordinary advancements in how we interact with each other, our system of education has been frustratingly slow to adapt.  One of the important goals of The Education Project 2010 in Bahrain is to share real world examples of how teachers and students are using technology to enable new ways of teaching and learning.”

Shaikh Mohammed bin Essa Al Khalifa, Chief Executive of the EDB which is organising this year’s conference, added: “Our world’s uncertainties can only be countered with action for the future.  Our goal in Bahrain with The Education Project is to unite the world’s educators in a common goal – the continuous and active improvement of education.  It is crucial for our collective future that nations work together to meet the economic and social challenges of today and tomorrow’s world.”

The Education Project is free to attend for educational professionals from all sectors as well as from public and private sector institutions with an interest in developing new models and standards in education.  Entry is by invitation only; for more information and to register online visit: www.educationprojectbahrain.org

- OVER 20,000 JOB ENTRANTS & EMPLOYEES TARGETED BY END-2009 -

27 June 2010, Manama:  The Chief Executive of Bahrain’s Economic Development Board (EDB) today commended Tamkeen after the organisation announced its investment in human capital had targeted over 20,000 job entrants and employees by end-2009.

Shaikh Mohammed bin Essa Al Khalifa’s comments follow the publication of Tamkeen’s Annual Report, which shows its private sector support programmes had supported 3,212 enterprises by the close of the year.  Some 27,560 job entrants and employees have been targeted for specialised training through its human capital development programmes.  And thousands more have benefited through a number of approved enterprise and career development programmes.

He said: “The large number of beneficiaries enrolled in Tamkeen’s programmes reflects its commitment to enabling a prosperous future for Bahrain and important role in achieving the ambitions of Vision 2030.  This investment in human resources – and in cultivating the growth of the private sector – is crucial for the Kingdom’s continued and sustainable economic growth.”

The EDB – which is leading Bahrain’s Vision 2030 and creating the right climate to attract foreign investment – launched labour market reforms in 2004 under the guidance of His Royal Highness Prince Salman Bin Hamad Al Khalifa, the Crown Prince of Bahrain and Chairman of the EDB.  This has led to the establishment of Tamkeen  to equip Bahrain’s highly-skilled young workforce with the relevant skills to enable them to seek better opportunities to elevate the national living standards in line with Bahrain’s Vision 2030.

Since 2007, Tamkeen has helped to enable the private sector and empower people, talent, careers, systems and cultures.  The organisation has supported initiatives aimed at improving the labour and capital productivity of Bahraini businesses.  And through programmes to help Bahrainis advance professionally, it is helping to ensure that an even greater number of the Kingdom’s growing and increasingly diverse national workforce become the employees of choice for international businesses locating in Bahrain as the gateway to the trillion dollar Gulf market.

H.E. the Minister of State for Foreign Affairs and Tamkeen’s Chairman Dr. Nezar bin Sadiq Al Baharna added:  “Our alignment to the Kingdom’s Economic Vision 2030 cements our goals and signifies the important role that we play in its realisation.  Our mission now is to empower Bahrainis according to market requirements and build enterprise capabilities in order to contribute to the expansion of the national economy.  A skilled workforce and an empowered private sector is another added value to all the other attractions for investing in Bahrain”

An estimated 100,000 young people will join the Bahrain workforce over the next 10 years.  Among them will be an ever increasing number of university graduates and women seeking highly skilled positions.  The Kingdom’s business sector is already supported by the most productive, well-educated and highly skilled national workforce in the GCC, a key factor in attracting multinational companies.

Bahrain has consistently invested in education and skills-attainment in line with the requirements of international business.  Tamkeen’s own 2010-2014 Strategy aims to ensure the Kingdom’s human capital is more productive, effective and responsive for a more competitive private sector.

- SHAIKH MOHAMMED IN CNBC INTERVIEW FROM NEW YORK -

10 June 2010, Manama:  The trillion dollar Gulf can create opportunities for US companies, Shaikh Mohammed bin Essa Al Khalifa, Chief Executive of the Bahrain Economic Development Board (EDB) has told CNBC.

In an interview from the broadcaster’s global headquarters in New York, Shaikh Mohammed highlighted the potential for strengthening bilateral commercial and economic ties. 

“There is a very good story to tell (about the Gulf).  The whole Gulf region is a growing single market worth US$1 trillion today; it will be US$2 trillion (by 2020)… We are here to get the message across to US companies that there are growth opportunities for them to sell into – and also to invest in – the region; it’s a win-win situation.”

Asked if Bahrain was competing with Dubai, Shaikh Mohammed outlined the Kingdom’s ambition to contribute to the growth of the Gulf as a whole. 

“We don’t see this as a zero sum game.  Dubai’s strength is our strength.  Bahrain’s strength is Saudi’s strength.  People talk about China and India.  Our aspiration actually is that they talk of China, India and the GCC.”

He added that Bahrain itself is the most established financial capital of the Middle East with the largest number of regulated institutions, over 400.  Financial services is the largest sector of the Bahrain economy, the most diversified in the Gulf; manufacturing is the second largest sector. 

Shaikh Mohammed told CNBC that the Kingdom is looking to the post-oil economy.  He is currently leading a Bahrain delegation in the US to meet with business leaders and discuss opportunities in non-oil sectors presented by the Bahrain-US Free Trade Agreement (FTA).

The EDB itself has the responsibility for creating the right climate to attract foreign investment and is leading the process of Bahrain’s Vision 2030 under the guidance of His Royal Highness Prince Salman Bin Hamad Al Khalifa, the Crown Prince of Bahrain and Chairman of the EDB.  The plans are designed to drive the private sector as an engine for growth, support further diversification of the economy and ultimately elevate national living standards by creating greater opportunities for Bahrainis.

CNBC will start broadcasting live from Bahrain on 14 June having itself chosen the Kingdom as its regional base.

- Chairman says “Bahrain meets all required criteria for hosting our regional office” -

[3] February 2010, Manama:  The Talal Abu Ghazaleh Organisation (TAG-Org) has announced that it has decided to set up its regional headquarters in Bahrain, citing its decision as being based on a number of factors, including its tried and tested legal and regulatory framework, the skilled local workforce and its advanced ICT infrastructure.

The Index of Economic Freedom 2010, published by the Heritage Foundation and Wall Street Journal, which ranked Bahrain as the 13th freest economy in the world, and the most free in the Middle East and North Africa (MENA) region, highlighted a number of these factors, saying “Bahrain is home to many multinational firms that do business in the region. It has a modern communications and transportation infrastructure, a reliable regulatory structure, and a cosmo¬politan outlook”. Furthermore, Bahrain was ranked first in the Gulf and wider Middle East and 13th of 192 countries worldwide in the 2010 United Nations Global e-Government Readiness Survey.

Shaikh Mohammed Bin Essa Al-Khalifa, Chief Executive of the EDB, said:  “We are delighted that TAG-Org has decided to set up its regional headquarters in Bahrain. It is one of the mostly widely recognised and respected professional services firms in the Middle East, and their decision to move here is a reflection of the positive impact resulting from the economic reforms that are being driven forward by the EDB in Bahrain.”

Talal Abu Ghazaleh, chairman of TAG-Org commented: “As the largest group of professional services firms in the Arab region, the leading intellectual property firm globally and a member of the international Forum of Firms (FOF) of trans-national accounting companies, we decided to benefit from the business friendly environment and the remarkable economic development strategies in place in Bahrain, including its advanced legal and regulatory framework, its attractive taxation system, the availability of qualified human resources, its most advanced ICT infrastructure, its supportive open market and its well established financial services industry. 

He continued “Bahrain thus meets all required criteria for hosting our regional office at our new corporate tower from which we will continue to service our international and regional client base through our network of over 70 offices. We are proud to be hosted by Bahrain

- SENIOR FIGURES TO SPEAK AT WORLD ECONOMIC FORUM -

26 January 2010, Manama:  A Bahrain delegation led by His Royal Highness Prince Salman Bin Hamad Al Khalifa, the Crown Prince of Bahrain and Chairman of the Kingdom’s Economic Development Board (EDB), will arrive in Davos, Switzerland, today for the 40th World Economic Forum (WEF) Annual Meeting.

The global summit, which takes place from 27-31 January, will be a timely gathering of the foremost global leaders for whom reviving economic growth remains a priority.  Themed “Improve the State of the World: Rethink, Redesign, Rebuild”, the event is a call to action, seeking to encourage global cooperation across business, government, the media, science, religion, the arts and civil society in an effort to shape the global agenda for 2010.

The Bahrain delegation includes senior figures from the Government of Bahrain, the EDB and the private sector.  His Royal Highness the Crown Prince is one of three members of the delegation speaking in a high level session at the event:

• “Rethinking Market Capitalism”
His Royal Highness the Crown Prince will contribute to a discussion on what elements of market capitalism should be rethought in light of the global recession
• “Creating Jobs and Strengthening Social Welfare”
His Excellency Shaikh Mohammed bin Essa Al Khalifa, Chief Executive of the EDB, will speak on what can be done to assist countries seeking to increase job creation
• “Wanted: Capital”
Talal Al Zain, Chief Executive Officer, Bahrain Mumtalakat Holding Company, will offer his thoughts on how businesses can finance capital investments in an era of global deleveraging.

Shaikh Mohammed said: “We are here to address some of the foremost challenges on the global agenda; to propose a move towards the principles of sustainable growth in a re-set world.”

Last year, Shaikh Mohammed addressed Davos 2009 (January), WEF on the Middle East (May) and Summer Davos in Asia (September), saying Bahrain’s prudent financial regulation and combination of tradition and reform – both based on ethical values – deserves a second glance.

Bahrain has taken a number of domestic measures designed to strengthen the long term sustainability and prosperity of the Kingdom, including a prudent fiscal and monetary approach, long term strategy of economic diversification and tried and tested regulatory framework with a commitment to the highest international standards.  This approach is enshrined in Bahrain’s Vision 2030 and National Economic Strategy, both committed to maintaining the optimum business environment that will attract foreign investment and ultimately elevate national living standards by creating greater opportunities for Bahrainis.

Other members of the Bahrain delegation include:

• H.E. Shaikh Ahmed bin Mohammed Al Khalifa, Minister of Finance/ Chairman of Bahrain Mumtalakat Holding Co.
• H.E. Dr. Nazar Al Baharna, Minister of State, Ministry of Foreign Affairs
• H.E. Rasheed Al Maraj, Governor of the Central Bank of Bahrain (CBB)
• H.E. Nada Haffadh, Member of the Consultative Council of Bahrain 
• H.E. Dr. Essam Fakhro, Chairman of the Chamber of Commerce and Industry
• Samer Al Majali, CEO, Gulf Air
• Elham Hassan, Country Senior Partner, PriceWaterHouseCoopers
• Shaikh Khalifa bin Daij Al Khalifa, President of the Court of the Crown Prince of Bahrain
• Steve Harrison, Executive Director, EDB