HRH Crown Prince chairs weekly Cabinet meeting.
The Cabinet extended best wishes to His Royal Highness the Prime Minister, Prince Khalifa bin Salman Al Khalifa, following his successful health checks. The Cabinet highlighted the Prime Minister's significant role in advancing Bahrain's development, in line with His Majesty the King's aspirations to provide opportunities for citizens.
Marking the 22nd anniversary of the Kingdom's National Guard, the Cabinet highlighted the key role the National Guard, Bahrain Defence Force and Ministry of Interior play in safeguarding Bahrain's security, a key component of ongoing sustainable development efforts. The Cabinet also recognised the National Guard's continued advancement under the leadership of His Highness General Shaikh Mohammed bin Isa Al Khalifa.
During the meeting, His Royal Highness the Crown Prince stressed the importance of strengthening collaboration with the Council of Representatives in order to meet key goals within the 2019 -- 2022 Government Action Plan, including the continual improvement of citizens' living standards.
In this regard, the Cabinet highlighted that the 2019 -- 2022 Government Action Plan encompasses key goals intended to strengthen the Kingdom's fiscal sustainability and sustainable economic development. The Government Action Plan is the government of Bahrain's comprehensive development framework that aims to build upon the principles of the Bahrain Economic Vision 2030, namely sustainability, competitiveness and fairness.
A number of submissions, memorandums and proposed laws were discussed during the meeting. The Cabinet outlined the following outcomes:
Key economic indicators
The Cabinet reviewed Bahrain's key Q3 2018 economic indicators, which revealed a 1.6 per cent increase in GDP growth YoY reaching BHD 3.18 billion in 2018. The report also recorded a 20 per cent annual increase in trade, which reached BHD 2.2 billion, and an 8.8 per cent decrease in trade deficit compared with Q2 2017. Industrial investments reached BHD 21.5 million in Q3 2018 with 12 commercial licenses issued in Q3 2018.
Oil sector development
The Cabinet approved an MoU between the National Oil & Gas Authority and the Italian company ENI. The MoU sets out the framework for collaboration on offshore oil and gas exploration along the North Coast of the Kingdom. The Cabinet instructed that the MoU be referred to the Ministerial Committee for Legal Affairs for implementation.
The Cabinet reviewed amendments to laws regulating organisational structure and general meetings of youth centres and societies. The amendments cover youth centres that are regulated by the Ministry of Youth and Sport Affairs and have been referred to Ministerial Committee for Legal Affairs.
Private sector labour regulations
The Cabinet referred a draft law concerning labour regulation within the private sector to the Council of Representatives. The draft law proposes amendments to article 32 stipulated in law 36 of 2012.
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BNA 1332 GMT 2019/01/07
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