The Economic Development Board (EDB) is a dynamic public agency with an overall responsibility for formulating and overseeing the economic development strategy of Bahrain, and for creating the right climate to attract direct investment into the Kingdom. The role of the EDB is to provide leadership by uniting all of the Kingdom's shareholders through a unified vision, and to develop key strategies for growth. The EDB also acts as a facilitator, helping all of Bahrain's stakeholders to understand and adopt the changes necessary for progress. In addition, the EDB provides sound project management to ensure that all agreed reform initiatives are implemented in an effective and timely manner. The EDB is chaired by His Highness the Crown Prince and Commander-in-Chief of the BDF, Shaikh Salman bin Hamad Al Khalifa. The EDB's Board of Directors consists of seven key ministers and seven leading executives from the private sector. The Board's composition is designed to enable both the public and private sectors to work closely together to achieve Bahrain's strategic objectives for change and growth. These are enshrined in a three-pillared reform programme that addresses the economy, labour market, and education. The EDB has played a leading role in a number of important recent initiatives. These include Bahrain's hosting of the Middle East's first ever Formula 1 Grand Prix; becoming the first country in the Arab world to fully liberalise its telecoms industry; bringing about the privatisation law; and establishing a Free Trade Agreement with the United States. The EDB is also responsible for attracting inward investment into Bahrain, and is focusing on several economic sectors in which the Kingdom offers significant strengths, and in line with the local culture. Several economic sectors capitalise on Bahrain's competitive advantages and provide significant investment opportunities. The EDB works to enhance the capabilities, infrastructure and policies that are tied to the economic sectors and to the overall business environment, with the ultimate aim of attracting investment in these areas and thereby contributing to the Kingdom's economic growth. The EDB is also responsible for marketing the Kingdom of Bahrain abroad through its overseas network of dedicated offices, and by working closely with its embassies across the world to promote business investment opportunities. In addition, the EDB offers an investor- facilitation service to first-time investors who are interested in investing in Bahrain. This service includes acting as the first point of contact to the Kingdom, understanding the objectives of investors, providing them with information regarding the relevant procedures for setting up business, and helping them form a network of contacts in Bahrain. |