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Shaikh Daij bin Salman Al Khalifa, chairman of the General Organisation of Seaports (GOP) - Bahrain, addressed the opening session of the Middle East Money & Ships Conference with comments on exploring the challenges and opportunities that have come hand in hand with the global financial downturn.
The event was held in Dubai recently, and was attended by senior government and business leaders from the maritime industry. Topics on discussion included the financial challenges, investment opportunities and expansion of the region's shipping industry.
Shaikh Daij said: "The severity of the crisis is unprecedented in recent times. Though the Gulf economies have been less affected, the economic slowdown has to some extent affected the port and logistics sector in the region with leading port operators reporting a reduced volume of business and earnings during the first half of the year."
However, he praised the efforts of the respective governments: their timely assistance and prudent fiscal policies helping to prevent the crisis from becoming a catastrophe.
