Invest in Bahrain

Bahrain ranked among top twenty global economies in attracting investments

Posted on September 7, 2021September 7, 2021 by Narjes Husain

Manama, 6 September 2021 – The Kingdom of Bahrain was ranked among the top 20 global economies in attracting direct investment, according to the Financial Times’ Greenfield FDI Performance Index 2021. Bahrain ranked 15^th among 84 countries from around the world that were included in the report. The Kingdom also ranked 2^nd in the Gulf and 3^rd in the Middle East and North Africa.

According to the index, Bahrain obtained 3.23 points and a rating of (above 1), which reflects the relatively large contribution of direct investments to the Kingdom’s economy. The report compares the size of the economies of countries and the direct investments that were attracted in 2020. The Kingdom climbed 12 positions from its previous global rating of 27. The five most prominent global economies in attracting direct investment included Costa Rica, Lithuania, the United Arab Emirates, Singapore, and Estonia.

Bahrain’s high ranking regionally and globally in attracting direct investments reflects the effectiveness of the strategic plan adopted by the Economic Development Board and its efforts alongside Team Bahrain partners to attract direct investments and create jobs despite the pandemic. It also gives an indication of the extent of development and openness of the business environment in the Kingdom and its competitive advantages that attract the attention of investors from all over the world.

Can the Middle East produce a cyber-security firm to challenge Silicon Valley?

Posted on September 6, 2021September 6, 2021 by Narjes Husain

– Bahrain is fast emerging as the regional leader in key ICT industries, such as gaming, internationally connected data centres, and now cybersecurity –

Mon 30 August 2021: Businesses of all sizes across every sector have been disrupted and forced to undergo rapid evolution and embrace digitalisation because of the Covid-19 pandemic. From safer banking, to more convenient shopping, this global shift online has largely benefited society.

But it also brings with it a new threat, to which many fresh, inexperienced, and therefore sometimes vulnerable companies are left open: cyber-crime.

The rapidly digitalising member countries of the GCC are no exception. Recent statistics from the region paint an alarming picture of cyber-attacks on the rise. Bahrain in 2020 blocked more than seven million attacks, according to TrendMicro’s annual Constant State of Flux report, while Saudi Arabia faced the same number in the first three months of 2021 alone, according to a quarterly Kaspersky report. The UAE meanwhile saw a 250 percent increase in cyber-attacks in 2020. These concerning figures are enough to make any multinational uneasy.

Smaller businesses in the region have proved to be particularly at risk of preying cyber criminals. Of course, there are certain actions SMEs can take to protect themselves. Simple things, like taking cyber risk seriously rather than viewing it as an IT issue, or raising awareness of cyber crime among employees. Staff can be instructed to install the latest software updates, be mindful of suspicious activity and phishing attacks, and to use strong passwords.

But there is a great deal more companies in the cybersecurity space can do to support the businesses and sectors most at risk. Just like the pandemic and any other challenge, the rise in cyber threats presents an opportunity. Already, ambitious, innovative and homegrown cybersecurity companies are emerging, and increasingly seeking to partner with international corporations.

Facilitating organic and sustainable growth here, in Bahrain’s ICT sector, has long been a national priority. Flexible, pro-business and often pioneering regulation has laid the foundations of our thriving ecosystem. For example, take Bahrain’s first-of-its-kind data jurisdiction law, which creates a “data embassy”, allowing data stored in Bahrain to fall under its home country’s legal jurisdiction. Or the government’s “Cloud-First Policy”, which is seeing a concerted migration of all government services to the cloud.

Bahrain’s tech-savvy population, its strategic location, advanced digital infrastructure, adoption of public clouds and training for Bahrainis looking to acquire cloud skills, have been key to attracting partnerships with global leaders in their fields which have served in turn to further bolster the local ecosystem.

Smaller businesses in the region have proved to be particularly at risk of preying cyber criminals.
Bahrain was chosen, for example, by AWS for the launch of its first Middle East ‘region’ and hyperscale data centre, a solution allowing organisations to store and transfer data more efficiently, which is already driving massive data traffic towards the region.

Through similar partnerships, Bahrain was also able to become one of the very first countries in the world to roll out nation-wide commercial 5G, enabling higher volumes of data transmission at record times.

Off the back of all this, Bahrain is fast emerging as the regional leader in key ICT industries, such as gaming, internationally connected data centres, and now cybersecurity.

In short, even as the pandemic came into full force, Bahrain was better placed than most to foster the growth of companies, which are emerging as a rapid response to the growth of cyber-attacks here in the region and globally.

Undoubtedly, it was Bahrain’s supportive ecosystem which facilitated our growth and in turn allowed us to attract and earn the trust of the major clients we are proud to serve today. We are seeing similar steps taken across the entire GCC, allowing us to pose the one question we are optimistic about: Can the Middle East produce a cyber-security firm to challenge Silicon Valley?

Mirza Baig, CEO of EDX Labs, a Bahrain-based innovation hub connecting the capabilities of software houses, VCs and incubators.

Published by Arabian Business.

Bahrain ranks first for ICT talent in the GCC, according to UN Report

Posted on August 12, 2021August 12, 2021 by Narjes Husain

The Kingdom of Bahrain was recently ranked as first in the GCC for availability of advanced computer programming talent in Information and Computer Technology (ICT), according to the International Telecommunication Union (ITU) Report 2020.

The ITU is a specialised agency of the UN responsible for matters related to information and communication technologies including setting the international standards for ICT indicators. The annual price trends report recently released, measures the level of digital transformation throughout the world, and highlights the value and quality of ICT services provided by local operators.

As indicated in this report, Bahrain continues to meet the UN affordability of 2% GNI per capita target across all ICT packages measured, providing accessible and affordable technology for its community. The report also scores Bahrain as the best in data value per GB within the GCC, and 2nd in the Gulf (8th in the world) for affordability of basic mobile cellular packages.

Dalal Buhejji, Executive Director of Investments at the Economic Development Board said, “Bahrain continues to attract direct investments within the ICT sector which is driven by many factors such as the availability of ICT talent, the competitive cost of doing business which forms the financial attractiveness for investors to set up and operates from the Kingdom.

Bahrain’s high ranking in this report is a testament to the kingdoms strategy and investment to further advance the ICT sector. In fact, just last year Bahrain Economic Development Board attracted over BD300 million in direct investments which included many within the ICT sector which will generate employment opportunities in Bahrain.”

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For more information, please contact:

Mahmood Ali
Executive Director, Communications
Economic Development Board
Phone : +973-39798919
E-mail : internationalmedia@bahrainedb.com

About Bahrain Economic Development Board

The Bahrain Economic Development Board (EDB) is an investment promotion agency with overall responsibility for attracting investment into the Kingdom and supporting initiatives that enhance the investment climate.

The EDB works with the government and both current and prospective investors, in order to ensure that Bahrain’s investment climate is attractive, to communicate the key strengths, and to identify where opportunities exist for further economic growth through investment.

The EDB focuses on several economic sectors that capitalise on Bahrain’s competitive advantages and provide significant investment opportunities. These sectors include financial services, manufacturing, technology and innovation, tourism, education, healthcare, logistics and transport.

Trade between Bahrain and GCC jumps to $1.69bn in Q2

Posted on August 2, 2021August 5, 2021 by Narjes Husain

– Non-oil bilateral trade rebounds in second quarter as Bahrain recovers from pandemic –

– Bahrain-UAE trade increases 76% YoY in Q2 as supply chains reopen –

– Bahrain-GCC trade for the first half of 2021 reached $3.4 billion, up from $2.8 billion in H1 2020 –

Manama – Bahrain 18 July 2021: Trade between the GCC and Bahrain reached a total value of $1.69 billion in Q2 2021, marking a 38% increase compared to the same quarter last year, according to the latest figures released by Bahrain’s eGovernment and Information Authority.

The data shows that Bahrain’s non-oil trade has quickly rebounded from a low point in 2020. International trade was severely hampered in Q2 2020 as lockdowns caused borders to close and significantly disrupted supply chains.

Non-oil bilateral trade between Bahrain and the UAE increased by 76% year-on-year to $672 million in Q2 2021.

Trade between Saudi Arabia and Bahrain accounted for around half of total Bahrain-GCC trade, at $781 million. Trade between Oman and Bahrain stood at $141 million. Oman was followed by Kuwait, which recorded $99 million in bilateral trade in Q2 2021.

Bahrain-GCC trade for the first half of 2021 reached around $3.45 billion up from $2.88 billion in H1 2020.

Ali Al Mudaifa, Executive Director of Bahrain’s Economic Development Board, said that the latest figures show significant progress on an annual basis.

“Bahrain has worked extremely hard alongside its GCC partners to boost trade in the region since the pandemic slowdown. Bahrain’s increasingly diversified economy presents excellent opportunities for foreign investors and we look forward to helping more companies tap into the burgeoning Gulf market in the coming months,” said Al Mudaifa.

He added: “Bahrain’s strong rebound from the pandemic demonstrates the continuing integrity of our robust supply chains and illustrates our position as a key logistical hub in the Gulf region. Companies here benefit from a competitive business environment, the region’s best-value operating costs and one of the most skilled workforces. The Kingdom also offers 100% foreign ownership in most business sectors.”

Some of the biggest exports to the UAE, aside from iron ore and aluminium products, included cheese and biscuits manufactured in Bahrain’s multi-million-dollar mega factories. Within the region, Bahrain is rapidly emerging as an FMCG leader, with global FMCG giants like Arla, Mondelez, Kimberly Clark and Reckitt Benckiser selecting the Kingdom as their regional manufacturing base and distribution hub.

Bahrain is only a 40-minute drive away from the region’s biggest market, Saudi Arabia, and connected to the rest of the GCC via multiple daily flights on the national carrier, Gulf Air. DHL has its regional hub in Bahrain.

The value of Bahrain’s global exports spiked by more than 70% year-on-year, reaching $1.12 billion by the end of the second quarter. Import values fell by around 8% to just over $1 billion.

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For more information, please contact:

Mahmood Ali

Executive Director, Communications

Economic Development Board

Phone : +973-39798919

E-mail : internationalmedia@bahrainedb.com

About Bahrain Economic Development Board

Bahrain EDB recognised globally for its resilience in navigating the pandemic

Posted on July 14, 2021August 29, 2021 by Narjes Husain

Manama, July 14, 2021: The Economic Development Board (EDB), the country’s Investment Promotion Agency (IPA), was recognised by the international economic development organisation OCO Global for its resilience in responding to the challenges posed by the Covid-19 pandemic, ranking 6^th top global IPA with the most resilience to add new source markets in the 2021 OCO Global Innovation Index.

The EDB also ranked 2^nd, alongside Invest Denmark and Invest HK (Hong Kong), in the technology sub-index, highlighting the EDB’s efforts in using technology to attract, facilitate and promote investment.

The 2021 OCO Global IPA Innovation Index evaluated 20 leading global IPAs on whether they made a positive change in response to Covid-19 based on strategic planning, operations in new sectors and markets, and use of technology in managing clients’ relationships, virtual events, and conferences.

The EDB’s mandate is to attract investments in order to create jobs in the local market. Despite the challenges faced due to the pandemic, the EDB was able to attract BHD333 million in direct investments in 2020 which will create over 4,300 jobs over the next three years.

Last year, several prominent companies launched operations in the Kingdom, with investment from leading local, regional and international companies in key sectors including financial services, manufacturing, logistics services, education, healthcare services, real estate, tourism, and ICT.

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Notes to Editor:

For more information, please contact:

Communications and Media Department

Economic Development Board

Phone: +973-17-589966

E-mail: communications@bahrainedb.com

About Bahrain Economic Development Board

For more information on the Bahrain EDB visit www.bahrainedb.com

PIONEERING INNOVATION & STUDENT CENTRICITY: AUBH launches Alexa Skills to connect with students through voice technology

Posted on July 7, 2021July 7, 2021 by Narjes Husain

The American University of Bahrain (AUBH) just added voice technology to its campus with the launch of two Alexa skills. The new skills are aimed at providing students, educators, and parents with the ability to use their voice to deepen the learning experience and enrich university life whilst providing critical academic and campus information.

The AUBH Campus Alexa Skill offers students, faculty, and visitors a convenient way to navigate the campus and learn about what the University has to offer by asking questions to Amazon Echo devices inside campus buildings. Through the AUBH student Alexa Skill, students are able to connect to campus information and events. The Skill also integrates with the University’s system for students to access coursework, grades, and other school communication via the Alexa app on their smartphones.

Mr. William D. Hurt, AUBH’s Chief Operating Officer, said, ”We are thrilled to launch these AUBH Alexa Skills. We are committed to our promise to offer an innovative, high-tech experience to our students and faculty, and we are confident that these Alexa Skills will provide them with a unique, customized, and unmatched campus experience.”

The launch of the new Alexa Skills is in line with the AUBH’s innovative and “borderless” approach to shaping globally-minded and tech-savvy thought leaders, and represents yet another milestone for Bahrain’s leading American University in driving innovation both locally and regionally.

Bahrain has been a regional pioneer in innovation by ranking first in MENA for ICT readiness by the UN – in addition to implementing MENA’s first data jurisdiction law, allowing data stored in Bahrain to fall under its home country’s legal jurisdiction. The Kingdom is also home to an advanced digital infrastructure and is one of the first in the region to roll out 5G, enabling new technologies such as artificial intelligence, cloud computing, fintech and more.

The implementation of Alexa Skills at AUBH follows the launch of the region’s first AWS data centers in Bahrain in 2019, which played an integral role in delivering Bahrain’s cloud-first policy and rapid adoption of cloud technologies by both, the public and private sectors, especially during COVID-19.

For more information on the University, you can visit the website at www.aubh.edu.bh.

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Note to editors:

AUBH is the first comprehensive, purpose-built, American-style co-educational university in the Kingdom of Bahrain, and is supported through the Elm Fund. The University offers a holistic journey for students and unique approach to education that fosters interaction and collaboration between students, faculty and the professional community.

The contemporary, 75,000 square meter campus is located in Riffa, Bahrain. The innovative and high-tech campus enhances the teaching and learning experience for both faculty and students. Along with classrooms, library and labs, the campus includes a Sports Center with indoor and outdoor courts and fields, vast Student Commons, and an Auditorium for special events.

AUBH curricula is built by experts and specialists to equip students with the knowledge and soft skills to succeed in a rapidly ever-changing environment. The AUBH quality of American-style education mirrors that of the best universities in the United States. The University’s unique academic structure enables students to find their real passions and allows them to develop their abilities, leading to long successful careers in their chosen industry.

AUBH is proud to be licensed by the Higher Education Council of the Ministry of Education of Bahrain. The University is seeking institutional accreditation with one of the six U.S. regional accreditors recognized by the U.S. Secretary of Education and the Council for Higher Education Accreditation (CHEA), holding the highest level of quality assurance at the institutional level.

For more information, please contact Julia Atherton-Dandy
Tel: +973 39660598
Email: julia@athertondandy.com

Bahrain’s FDI inflows reach $1 Billion in 2020

Posted on June 23, 2021June 23, 2021 by Narjes Husain

Manama, June 22: Bahrain’s Foreign Direct Investment (FDI) inflows increased by $1.007 billion in 2020, according to the latest World Investment Report (WIR 2021) from the UN Conference of Trade and Development (UNCTAD).

The annual report charts global investment flows, analyses trade trends, and examines government policies that seek to expand world trade.

The report highlighted that global FDI contracted by 35% to $1 trillion in 2020, with an expectation for flows to bottom out and increase by 10-15% in 2021. Despite global trends, Bahrain experienced a 3.3% increase in inward FDI stocks, reaching $31.7 billion in 2020.

Also highlighted was Bahrain’s stock to GDP ratio, where Bahrain’s inward FDI stocks relative to GDP reached 92%, the highest ranking in the GCC and surpassing the global average of 49%.

The report recognised the Government of Bahrain’s plans to continue implementing wide-ranging reforms to attract direct investments and link it to its national development and economic diversification plans.

A wide range of sectors drove investment, further demonstrating Bahrain’s strides in diversifying the non-oil sector. Some of the sectors mentioned in the report include manufacturing, education, healthcare, and information technology industries.

H.E. Khalid Humaidan, Chief Executive of Bahrain Economic Development Board, commented: “Despite the challenges that COVID-19 has brought to economies around the world, we were able to carry the momentum from the previous year and attract hundreds of millions of dollars in investment into the country. We are looking forward to continue working with our partners to attract investment into the Kingdom and support existing companies expand, further diversifying our economy and creating jobs in the local market.” The EDB is the government’s Investment Promotion Agency, mandated to attract investments into Bahrain and continue to drive economic diversification and create jobs in the local market.

Bahrain tops global financial attractiveness rankings for 3rd consecutive year

Posted on May 31, 2021May 31, 2021 by Narjes Husain

– Bahrain tops AIRINC Global 150 Cities Index for financial attractiveness –

– Seven MENA cities in the top 16 places –

Manama, May 30 2021: Bahrain has topped the globally-recognised AIRINC Global 150 Cities Index financial attractiveness ranking for the third straight year, leading impressive rankings for MENA capitals – with seven leading MENA cities in the top 16 places. Aside from the capital of Bahrain in first place, others cities ranked included Riyadh, Kuwait City, Amman and Abu Dhabi.

The rankings evaluate the salary levels, cost of living, and taxes in a particular market in order to create an overall score for financial attractiveness.

The news of Bahrain’s win follows its recent success in the InterNations Expat Insider 2021 survey, where the country led the GCC across different indicators that included quality of medical care, political stability, ease of settling in and job satisfaction. The country was ranked fifth globally for ease of settling in, and a high number of respondents in Bahrain said they had no immediate or future plansto return home despite the pressures of the pandemic.

The Government of Bahrain was one of the first in the region to develop an economic diversification strategy away from hydrocarbons, successfully creating an economy where more than 80% of its GDP comes from non-oil sectors, providing a broad range of opportunities for Bahrainis and expats working in the country. Bahrain has since become known for its great regional connectivity, regulatory innovation, and best-value operating costs.

AIRINC describes itself as ‘the leading authority on international mobility data since 1954’ and supports multi-national corporations and others with the workforce globalisation strategies. The rankings are put together by an in-house team at AIRINC who ‘continuously research the costs and living conditions of many cities around the world to evaluate international mobility’.

Foundation Holdings to invest $30m in healthcare and education in Bahrain

Posted on May 27, 2021May 27, 2021 by Narjes Husain

Manama, May 27 2021: The Bahrain Economic Development Board (EDB) today announced the signing of a memorandum of understanding (MoU) with Foundation Holdings to invest US$30 million into launching its affiliate companies, in Bahrain including a new state of the art medical centre focused on specialised healthcare and non communicable diseases.

This investment into the Kingdom will support Foundation Holdings & EDB’s shared goal of driving meaningful and positive impact in Bahrain’s healthcare and education sectors. The launch of primary care provider Right Health – an affiliate of Foundation Holdings – will be centred around a new research and development centre that, along with a chain of outpatient and diagnostic facilities and pharmacies, will offer a clinical capacity of 150 doctors and nurses capable of serving as many as 500,000 patients annually.

The agreement also includes launching medical solutions through ProMedEx – another Foundation Holdings affiliate – who will work with the country’s leading private and public hospitals to offer the world’s best-in-class technology orthopaedic and general surgery implants and devices.

The healthcare market in Bahrain has been growing at an annual average rate of 12.2%, from an estimated $1.1 billion in 2015 to an estimated $2.0 billion in 2020[1] which reflects the growing investment opportunity within this key sector.

Abhishek Sharma, Chief Executive Officer of Foundation Holdings said, “We believe that Bahrain is poised to become a major hub for finance, healthcare, education, technology and innovation and we are proud to partner with Bahrain to enhance the quality of the healthcare and education sectors in the Kingdom and the wider GCC region. We are committed to driving innovation within these critical sectors, to meeting the growing demand for specialised service offerings and to creating jobs to lay the foundation for stronger long-term economic growth. This MoU enables us to establish Bahrain as the regional pioneer for healthcare and education and in turn become the springboard for the entire GCC, attracting foreign direct investment and importing global best practice to enhance and boost Bahrain’s position in the global sphere. The latest technologies of our investee companies like ProMedEx and Right Health will further benefit all residents of Bahrain in addition to creating local jobs, and we look forward to using our talent, scale and experience as an effective private sector partner to make a significant positive impact in the Kingdom.”

Commenting on the partnership, Mahmood Al Aradi, Chief Investment Officer at Bahrain EDB said, “This is a strategic investment that has the potential to unlock significant opportunities for healthcare providers in Bahrain over the coming years.

“We are extremely pleased to be supporting Foundation Holdings with their plans to enter the Bahrain healthcare market. Our strategic location, our competitive business offering, which includes delivering the best value operating costs in the region, and the growing demand for healthcare services will all play a fundamental role in contributing to the success of the project.”

Foundation Holdings is a global strategic investment firm focused on the healthcare and education sectors in India and the GCC. It currently holds investments in UAE, Saudi Arabia and India. Foundation Holdings will deploy the funds into establishing its portfolio companies in Bahrain, creating 300-500 locally sourced, specialised healthcare jobs in the process. The news of the MoU comes as Bahrain continues to embark on ongoing healthcare reforms as part of its Vision 2030 programme, creating new and expanded opportunities for investors and healthcare providers.

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For more information, please contact:

Mahmood Ali

Executive Director, Communications

Economic Development Board

Phone: +973-39798919

E-mail: internationalmedia@bahrainedb.com

About Foundation Holdings

Foundation Holdings is a leading strategic, global investment firm focused on building sustainable, industry defining companies in the impactful sectors of healthcare and education with assets under management exceeding AED 500 million and investments in 7 companies across the GCC and India. Foundation Holdings’ applies its value-creation approach to impact investing by building great healthcare and education companies, maximizing their financial potential, and scaling their social and environmental impact. Foundation Holdings’ management team has led successful IPOs across the New York Stock Exchange, London Stock Exchange, Australian Stock Exchange and the Dubai Financial Market, as well as having led two of the largest IPOs in the region.

The firm is the recipient of various awards and distinctions including the Investment Recognition Award by the UAE-India Economic Forum, Responsible Business Award (Nomination) by Ethical Corporation Award, Best Socio Economic Impact Investor Team, UAE, (Nomination) by cfi.co, Best Educational Investment Management Firm (Nomination) by Global Business Outlook, Most Progressive Healthcare Investment Firm, UAE by International Business Magazine etc. Find us in Dubai & Mumbai, and at www.foundationholdings.co

About Bahrain Economic Development Board

For more information on the Bahrain EDB visit www.bahrainedb.com

[1]https://2016.export.gov/industry/health/healthcareresourceguide/eg_main_124534.asp#:~:text=The%20healthcare%20market%20in%20Bahrain,estimated%20%242.0%20billion%20in%202020

Bahrain property transactions jump 36% in Q1 2021

Posted on May 24, 2021May 26, 2021 by Narjes Husain

Bahrain real estate transactions reached $600 million compared to just over $440 million in Q1 2020
Almost 3,000 real estate deals conducted in the first quarter of 2021

Manama – May 18, 2021: Bahrain’s real estate transactions rose by 36% in Q1 2021 reaching $600m (226 million BD), according to figures released by Bahrain’s Survey and Land Registration Board. These figures represent a boost of more than a third compared to the first quarter of last year, when numbers were just over $440m (166 million BD).
Just under 3,000 properties were sold across the first three months of this year, a rise of 51% from the first three months of last year’s transactions, which reached just under 2,000. Listings portal Propertyfinder.bh also reported that the number of sale listings during Q1 2021 have gone up almost 10% over the last quarter. Much of this success can be attributed to strategic swift financial decisions taken by the government to support the economy.
Commenting on this, Ali Al Mudaifa, Executive Director, Investment Origination at the Bahrain Economic Development Board said: “The rise in real estate transactions indicates the growing demand for residential and retail properties in the Kingdom which represents an opportunity for investors and developers who can benefit from Bahrain’s business-friendly regulations such as 100% foreign ownership. In addition to local demand, we witnessed a 21% surge in real estate transaction value from expat buyers including GCC nationals.”
Bahrain’s long-standing real estate sector is a popular destination for investments, offering a multi-dimensional marketplace that caters to the growing demand in the Kingdom. Residential properties present a unique opportunity as affordable housing schemes come into effect, with a demand request of 5,000 units per year and 40,000 units to be delivered by 2022 by the Ministry of Housing.

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For more information and media enquiries, please contact:
Communications and Media Department
Economic Development Board
Phone: +973-17-589966
E-mail: internationalmedia@bahrainedb.com

About Bahrain Economic Development Board
The Bahrain Economic Development Board (EDB) is an investment promotion agency with overall responsibility for attracting investment into the Kingdom and supporting initiatives that enhance the investment climate.

For more information on the Bahrain EDB visit www.bahrainedb.com; for information about Bahrain visit www.bahrain.com.