Nazar bin Sadeq Al-Baharna, minister for state for foreign affairs and chairman of Tamkeen, said at the opening of the two-day Innovation Bahrain conference that the forces of globalization, technology and competition have converged to prod innovation and to change the way business is done.
Under the patronage of Sheikh Mohammed bin Mubarak Al-Khalifa, deputy prime minister of Bahrain, the conference attracted 400 delegates including experts, policy makers and stakeholders from across the region.
Innovation Bahrain is designed to explore the potential for the development and evolution of our society and identify opportunities for innovation and growth.
"Despite global challenges and uncertainties that face many nations around the world, we are confident in the understanding that success is contagious and we, even in our own modest ways, can contribute to the evolution of the global economy," he added.
"Innovation Bahrain is a vision to define a path forward and identify opportunities for meaningful development within a nurturing environment of socio-economic prosperity. Bahrain is fortunate to have been a pioneer in many realms throughout its history in the Gulf: The first schools, the first oil industry, the first aluminum industry, the first financial hub, etc. Although these represent strong and notable achievements, we are keen to evolve further and ensure that we always maintain a competitive advantage through a vibrant productive and creative society led by our principal asset ... our human capital.
"Our venture into an innovation-led society and economy is not a decision of luxury but like many other nations of the world is a matter of fundamental necessity. Innovation Bahrain is our starting point as in the current information age, where an idea sparked in one corner of the world can evolve into a business in another part within a matter of days; creativity and how to translate creativity into economic terms becomes a critical success factor for us and our future. We are here to identify these opportunities and how we can fuel creativity and ensure that we as a society support and encourage the channeling of these ideas into business reality," he added.
Bahrain's Vision 2030, he said, has clearly spelled out this objective and our goal to transition to knowledge based economy.
