Bahrain's economy advanced by over 5.5 per cent in 2005 and growth is projected to be higher this year, the head of the kingdom's Economic Development Board said, according to Reuters. Speaking on the sidelines of the World Economic Forum in Davos, Mohammed bin Isa Al Khalifa, chief executive of the Economic Development Board said: "The economy is growing well. In 2005 it would be over five and a half per cent."
The EDB, an autonomous semi-private agency, was established by Amiri Decree in April 2000, and is chaired by the Crown Prince Shaikh Salman bin Hamad Al-Khalifa.
The EDB is responsible for formulating and overseeing the economic development strategy of Bahrain. The EDB aims to attract Foreign Direct Investment (FDI) to Bahrain.