Bahrain EDB recognised globally for its resilience in navigating the pandemic

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 6th top global IPA with the most resilience to add new source markets in the 2021 OCO Global Innovation Index.

The EDB also ranked 2nd, 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.

–ENDS—

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

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.

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

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

-Ends-

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

Bahrain 2020 FDI UNCTAD

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

– 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

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.

–  ENDS –

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

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.

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

  • 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.


-Ends-


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.

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, ICT, tourism, logistics and transport.

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

Bahrain tops GCC rankings as best place for expats to live

  • Third of respondents in Bahrain have no plans to move in near future due to handling of global pandemic

Manama – May 19, 2021: Bahrain remains the best place in the GCC for expats to live and work despite the COVID-19 pandemic, according to the recently published InterNations Expat Insider 2021 survey. The survey, which samples key indices related to things like quality of life and cost of living, ranks the Kingdom ahead of Qatar, the UAE, Oman, Saudi Arabia and Kuwait.

While the pandemic has caused expats around the world to cut their time abroad short and return home, nearly a third of respondents in Bahrain said they no immediate or future plans to return home due to the global crisis.

In the InterNations survey, Bahrain ranked highly across key indicators including quality of medical care, political stability, ease of settling in and job satisfaction.
Just over 80% of expats in Bahrain are happy with medical care quality, compared with 71% globally. Meanwhile, 84% are happy with the country’s political stability compared to 64% globally. This combined with Bahrain’s best-value cost of setting up and operating a company than neighbouring countries, as well as the Kingdom’s unparalleled access to the GCC region’s fastest growing market are all key factors in ensuring demand from companies looking to set up in the region.

Most expats in Bahrain also feel financially secure while almost 70% of respondents said they are satisfied with their job in general. The majority of expats in Bahrain work in healthcare, energy & utilities, education and hospitality. Rapid population growth in the country is driving demand for both healthcare and education services and workers.

Exactly half of expats in Bahrain rate the cost of living positively and the Kingdom is placed 26th in the global rankings for cost of living.

Despite the pandemic, Bahrain remains a very easy place for expats to settle in, according to the survey. The country was ranked fifth globally for ease of settling in and most expats (87%) find it easy to live in Bahrain without speaking the local language, compared with 54% globally. Bahrain ranks sixth globally in the language subcategory.

Moreover, 77% of expats feel at home in the local culture (versus 63% globally), and 70% say it is easy to settle down in Bahrain (versus 62% globally). Bahrain ranks fifth in the world for ease of settling in.

–ENDS—

Notes to Editor:

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.

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

Bahrain real estate sector deals valued at US$ 1.9 billion in 2020

  • Bahrain real estate deals rose by 14% and 20% in third and fourth quarters of 2020
  • Ongoing mixed-use major real estate projects worth over US$12 billion
  • Bahrain real estate sector set to bounce-back amid series of major projects and initiatives

Manama – March 30, 2021: The real estate market in the Kingdom of Bahrain is gaining pace despite the challenges faced by the pandemic, with a series of major projects and initiatives driving sector growth. The rebound of Bahrain’s real estate sector fuelled a 14% and 20% rise in real estate deals in the third and fourth quarter of 2020 respectively, with the total value of real estate transactions in Bahrain reaching $1.9 billion (BD 717.4 million) in 2020.

Bahrain’s National Real Estate plan for 2021-2024 is set to further increase the sector’s contribution to the national economy as part of continued economic diversification efforts. The plan includes five initiatives and 17 projects, including laws and regulations, long-term plans and operational initiatives for developing the real estate sector.

Mixed-use major real estate projects in the Kingdom set to exceed US$ 12 billion which includes Eagle Hills Marassi Al Bahrain, Diyar Al Muharraq, Dilmunia and Bahrain Bay, which are creating prosperity through attractive and unique real estate destinations. Bahrain is a multidimensional marketplace that enables investment in a diverse range of properties that focus on addressing the growing consumer demand in Bahrain and the region for integrated communities that offer opportunities for the live, work, play lifestyle.

Commenting on the latest real estate developments, Ali Al Mudaifa, Executive Director – Investment Origination at Bahrain Economic Development Board said, “Bahrain’s bounce back in the real estate sector is testament to the Kingdom’s dedication towards economic growth.”

“Seeing these projects come to life has been a rewarding experience and we are confident that Bahrain’s real estate sector will continue to grow in the coming years.”

In addition to delivering a total of 30,000 homes over the past five years, Bahrain’s housing ministry is currently in the process of digitising their services to improve their offering. During 2020, the ministry completed around 45,000 transactions online, increasing efficiency and resulting in a 75% reduction in congestion time for housing service applications.

—ENDS—

Notes to Editor:

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.

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

Tencent Cloud Deploys its First MENA Region Internet Data Centre Hub in Bahrain

  • Middle East cloud market expected to reach USD 4.5 billion by 2024, highlighting the growing opportunity in the region
  • Tencent Cloud will capitalise on Bahrain’s position as a regional cloud services hub

Hong Kong, March 1, 2021 Tencent Cloud, the cloud business of Tencent, today announced its collaboration with the Bahrain Economic Development Board (EDB) – the Kingdom of Bahrain’s Investment promotion agency. The two parties signed a Memorandum of Understanding (MoU), with the aim to drive the Kingdom of Bahrain’s Internet Data Centre (IDC) development and support its rapid emergence as the Middle East and North Africa (MENA) region’s hub for the cloud and IDC sectors. The MoU signing also marks a significant milestone for Tencent Cloud as it deploys its first public cloud infrastructure in the MENA region.

According to research by MarketsandMarkets, the Middle East’s cloud market is expected to reach USD 4.5 billion by 2024, with a CAGR of 17.5 percent over the same period, highlighting the growing opportunity in this region.

The MoU between Tencent Cloud and the Bahrain EDB will allow for substantial opportunities to boost the local digital economy, empowering local organisations to expedite their digital transformation journey. It will also allow Tencent Cloud to leverage on Bahrain’s regional position, and the EDB’s connectivity with local and regional stakeholders, including Bahrain’s sovereign wealth fund, Mumtalakat.

The terms of the MoU include:

  • Tencent Cloud’s first IDC in Bahrain and MENA: Tencent Cloud will launch a brand-new IDC in Bahrain, which will go live by the end of 2021.
  • Promoting the deployment of Tencent Cloud: Bahrain EDB, together with public and private stakeholders will encourage the continued adoption of cloud services to further the digital transformation agenda. Additionally, support will be offered to partner companies to leverage cloud services in collaboration with local stakeholders such as Tamkeen.
  • Local talent development: Tencent Cloud will explore and set up training initiatives jointly with the local government in universities and educational institutions across the Kingdom to allow for further knowledge transfer and qualified digital technology talents.

H.E. Kamal bin Ahmed Mohammed, Bahrain’s Minister of Transportation and Telecommunications, said, “This is an important milestone in Bahrain’s journey to become the MENA region’s cloud and data centre hub and I commend the EDB for their ceaseless efforts in developing the partnership with Tencent and ensuring that Bahrain is a favored destination for investment. Tencent joins leading global cloud giants in setting up in Bahrain which will drive massive growth in data traffic towards MENA. Moreover, the launch of the new data centre stands to create a clustering effect as other global providers turn their attention to the increasingly attractive region, with Bahrain positioned as the destination of choice with proactive initiatives such as the Government’s ‘Cloud-First’ policy and nationwide 5G.”

Poshu Yeung, Senior Vice President, Tencent Cloud International, said, “While the local government in Bahrain has been making significant efforts to grow the local IDC industry, Tencent Cloud is excited to collaborate with Bahrain EDB as part of our ongoing efforts to ramp up the global IDC landscape. We will launch all necessary steps to set up a brand-new IDC in Bahrain to provide better coverage all over the Middle East and North African regions along the Belt and Road, fully supporting Bahrain’s ‘Cloud-First’ strategy.”

H.E. Khalid Humaidan, Chief Executive, Bahrain Economic Development Board, said, “As a global leader in technology, innovation and cloud services, the EDB is very proud to be partnering with Tencent to set up their first MENA data center hub in Bahrain. We are confident that Tencent will be able to leverage on the Kingdom’s regional connectivity, local talent, and business friendly environment to expand their services and reach clients across the region.”

Raed Fakhri, Managing Director – Investments, Mumtalakat, added, “Innovative technologies, including cloud services and other content driven services, are an area that Mumtalakat is keen to explore and support as Bahrain progresses with its ‘Cloud First’ policy. As one of the first organisations in the Kingdom to achieve full cloud migration we are excited to witness this milestone that will only further enhance Bahrain’s diversification strategy.” 

In 2017, Bahrain introduced the region’s first nationwide “Cloud-First” policy to enhance government information and communication technologies, driving the adoption of cloud across state entities and reducing IT costs by up to 90%.

Operating in 27 regions and 60 availability zones worldwide, Tencent Cloud is a secure, reliable and high-performance public cloud service provider that integrates Tencent’s infrastructure-building capabilities with the advantages of its massive user platform and ecosystem. By harnessing Bahrain’s track record of agile and forward-thinking data regulation, as well as its strategic location within the region, Tencent Cloud will enhance its rich array of global services to both the public and private sectors in the region.

# # #

About Tencent Cloud

Tencent Cloud is Tencent’s cloud services brand, providing industry-leading cloud products and services to organizations and enterprises across the world. Leveraging its robust data center infrastructures around the world, Tencent integrates cloud computing, big data analytics, AI, Internet of Things, security and other advanced technologies with smart enterprise scenarios. At the same time, we provide a holistic smart enterprise solution for sectors including finance, education, healthcare, retail, industry, transport, energy and radio & television.

Media Contact

Denize Chan Tencent Cloud denizechan@tencent.com
+852-3148-5100 (ext. 850898)  
Irene Fung Current Global ifung@currentglobal.com       

Manama listed in the top 5 globally for FDI strategy in latest fDi Magazine ranking

Manama – February 18, 2021: The Kingdom of Bahrain’s capital Manama has been named as the fifth globally amongst all-sized cities and first amongst small and mid-sized cities for FDI strategy in the 2021 Global cities of the Future index produced by the Financial Times’ fDi Magazine. Both Abu Dhabi and Dubai similarly ranked in the top 10, with Abu Dhabi placing sixth and Dubai placing eighth.

Commenting on the latest rankings, the Bahrain Economic Development Board’s Chief Executive, His Excellency Khalid Humaidan said: “In 2019, FDI stock made up 80% of our nominal GDP which is double the world average. We are very proud of this achievement and for being recognised for our FDI strategy. What is more promising is that three GCC cities have ranked in the top ten, highlighting the clear attraction for FDI in the region.

“This independent recognition is further confirmation that our board has set the right strategy for us to go forward and they continue to be supportive of our agenda.”

The Kingdom’s FDI strategy is pinned on a diverse multi-sectoral approach which is showing results and gaining recognition, as evidenced by Bahrain’s leading performance in the survey.

In addition to the Kingdom’s ranking in FDI Strategy, Bahrain was also ranked highly in cost-effectiveness and business friendliness, being 6th globally and third in MENA, and seventh globally and second in MENA respectively for small and mid-sized cities.

Bahrain has undertaken an ambitious and comprehensive programme of economic reform, which has been further recognised by other independent studies and surveys. The 2020 World Bank Doing Business Report named Bahrain the fourth most improved country in the world, and research by KPMG in a Cost of Doing Business Report highlighted that Bahrain is between 20-30 percent more cost-effective than some of its neighbors across multiple industries.

— Ends —

Notes to Editor:

For more information, please contact:

Mahmood Ali

Executive Director, Communications and Media

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, ICT, tourism, logistics and transport.

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

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