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EDB chief opens three-day meeting

DUBAI — Chief Executive of the Bahrain Economic Development Board (EDB), Shaikh Mohamed bin Essa Al Khalifa, yesterday opened a three-day meeting of MENA government representatives and the Organisation of Economic Co-operation and Development (OECD), aimed at developing policies to attract investment in the region.

Hosted by the EDB, this is the fourth meeting this year between senior representatives from government, civil and private sector organisations of the MENA states and the OECD. The discussions aim to agree recommendations on practical steps in developing a regional investment policy at ministerial level that will attract domestic and foreign investment into the MENA region.

The conclusions will be drafted into a Ministerial Investment Charter to be presented to a MENA-OECD Investment Ministerial Meeting in Jordan in November 2005.

In his opening address Shaikh Mohammed bin Essa Al Khalifa, the EDB Chief Executive, said: "The OECD is providing valuable expertise to enable the countries of the Middle East and North Africa to improve and develop the regional investment environment and to achieve the highest level of transparency and best practice through improvements in the laws governing domestic and foreign investment.