Corporate Leaders Discuss Bahrain's Economy, Reforms and Future Plans [Press Release]
Capital Club Manama, Bahrain -November 1st, 2016
Falak Consulting, a leading management consultancy firm that is dedicated to building stronger economies and happier societies by unlocking human and business potential, today hosted its 4th quarterly power lunch, which was attended by His Excellency Shaikh Salman Bin Khalifa Al Khalifa, Director General of the Office of the First Deputy Prime Minister (FDPM), as the guest of honor.
The power lunch was held at the Capital Club in Manama, and was attended by Anil Nair (CEO of Mannai Holding), Mazin Alsawafiri (MD of The Bridge Partnership), Ahmed Al Omran (Partner at Startum), Simon Galpin (MD of EDB), Qais Almaskati (CEO of First Equity), Murad Al Ramadan (CEO of Inovest), Mohamed Al-Mahdi (Founder of Cartoon Planet), Jonathan Cross (Managing Director of Julius Baer Bahrain), and representing Falak Consulting were Suhail Ghazi Algosaibi (CEO), Maniza Diwan (Executive Director), Saba Saleem (Senior Consultant) and Alyaa Mohamed (Consultant).
Discussions during the lunch focused on ongoing development efforts and the government’s priority framework (GPF). The Director General of the FDPM spoke of the role of the Office of the First Deputy Prime Minister in delivering enhanced government services to citizens and businesses.
Other guests attending the lunch posed questions to the Director General, and put forward suggestions to the guest of honour.
The Director General highlighted that the first phase (2014 – 2015) of the Government Priorities Framework prioritized projects designed to further improve citizens’ living standards and drive levels of performance across government departments.
The Director General went on to note that the Government Priorities Framework – now in its second phase – consists of multi-faceted development programmes and initiatives that align with the key goals of the Government Action Plan and Bahrain’s next phase of development.
In his discussion, the Director General emphasised the positive impact that Bahrain‘s longstanding diversification efforts have had on the economy, which he said has seen the contribution of non-oil sectors grow to 80% of the GDP.
The Director General went on to add that despite the unprecedented drop in global oil prices, hotel occupancy has seen a 35% rise in 2015, while the number of building permits have risen by 100% - a 300% increase in investment value.
The Director General concluded by emphasising the crucial role the private sector has in driving long-term sustainable development, and encouraged Bahraini companies to tap into the wider Gulf market.
Speaking on the occasion, Suhail Algosaibi, CEO of Falak Consulting said: “At Falak Consulting, our mission is to build stronger economies and happier societies by unlocking business and human potential. In particular, we want to contribute to the betterment of the Bahraini economy and society. One of the ways we do this is through the Falak Power Lunch. The purpose of the Power Lunch is to have a constructive dialogue about Bahrain’s economy and business climate, to share ideas and thoughts, and to be brought up to speed by government officials on the latest reform efforts. We are delighted that Sh. Salman has agreed to be our guest of honour. It was a pleasure to hear about his first-hand experience of the governments reform processes. All of us in the business community truly respect the positive work being done by the First Deputy Prime Minster HRH Prince Salman bin Hamad Al-Khalifa and his team in making Bahrain a business-friendly nation.”
The Falak Power Lunch is held on a quarterly basis, and facilitates discussions on Bahrain’s economy and business climate. This initiative has been successful since its establishment in 2015, and it continues to engage private and public sector leaders in the Kingdom.