Noor bint Ali Alkhulaif, Minister of Sustainable Developmentand Chief Executive of the Bahrain Economic Development Board, participated ina panel discussion titled “Human Capital: The Cornerstone of Economic Growth”as part of a side event organised by the Secretariat General of the GulfCooperation Council (GCC) and the World Bank, on the sidelines of the 2024Annual Meetings of the World Bank Group (WBG) and the International MonetaryFund (IMF) in Washington D.C. The panel also featured Faisal F. Alibrahim,Minister of Economy and Planning of Saudi Arabia; Deemah Al Yahya, SecretaryGeneral of the Digital Cooperation Organisation; and Mr. Ousmane Diagana, VicePresident of the World Bank for the Middle East and North Africa.

The GCC side event showcased the significant role the GCCeconomies play in the global economy and focused on their economic, investment,and trade positions, as well as their efforts to achieve economic integrationand boost their competitiveness both regionally and internationally.

During the session, Minister Alkhulaif emphasised theimportance Bahrain places on investing in human capital, recognising it as anengine for sustainable economic growth and development, and its commitment tocreating high quality jobs, ensuring that Bahrainis are positioned as the firstchoice in the labour market, in line with the Kingdom’s Economic Vision 2030and the Economic Recovery Plan.

She noted that these strategic investments have positivelyimpacted Bahrain’s ranking in relevant global indicators, including thecountry’s ranking as second in the Arab world on the World Bank’s Human CapitalIndex, which reflects Bahrain's commitment to skill development as a means ofsupporting sustainable economic growth and advancing development and thesuccessful impact of government efforts in this pursuit.

The Minister also highlighted the significant impact ofhuman capital development on innovation and digital transformation, whichcontributes to enhancing productivity and economic growth. She emphasisedBahrain’s active approach in aligning workforce development with the currentand future needs of the labour market, which helps bolster the competitivenessof Bahraini talent, locally and globally.