World Bank ranks Bahrain and UAE top Arab nations for human capital

  • Bahrain ranks first among GCC countries for academic achievement in Human Capital Index 2020

Manama, September 28 2020: The World Bank has ranked the UAE and Bahrain as the top destinations in the Arab world to invest in human capital, according to a new report.

The Human Capital Index 2020 measures potential productivity in the health and education sectors across 98% of the world’s population – with a focus on the knowledge, skills and health that a child born today is expected to accumulate by their 18th birthday.

The UAE ranked 44th against a global benchmark and first in the Arab world in the index, followed by Bahrain at 46th, Oman at 64th, Saudi Arabia at 84th and Kuwait at 88th. Worldwide, Singapore took the first-place spot, with Japan ranking second and Korea coming third.

Bahrain scored 0.65 points, up more than 8 percent from its 0.60 ranking based on the same factors 2010 – four times the global average. During the period, Oman increased to 0.61 from 0.55, Saudi Arabia to 0.58 from 0.55, while the UAE recorded a score of 0.67 compared to a previous ranking of 0.62.

According to the report, Bahrain performed particularly well in the field of education, ranking first among the GCC countries for academic achievement, and among the top five countries globally for the performance of girls over boys in education.

World Bank researchers noted: “More human capital is associated with higher earnings for people, higher income for countries, and stronger cohesion in societies. It is a central driver of sustainable growth and poverty reduction.”

Tala Fakhro, Chief Project Officer – Strategic Research, Market Studies & Project Implementation at Bahrain Economic Development Board, commented: “Bahrain’s ranking in the Human Capital Index 2020 is testament to our wide-ranging economic reforms as well as years of investment in education and healthcare, ensuring that children born today are fully empowered to achieve their potential.

“Bahrain has a long history of promoting gender equality and was the first Gulf state to allow women into education, so we are particularly proud to rank in the top five globally for the educational performance of girls.

“The Kingdom offers a highly skilled local and global workforce, with diverse demographics providing an ideal mix of qualities for businesses looking to hire top talent and sustain long-term growth.”

With a rapidly growing population driving demand for new medical services and technologies, healthcare is a critical policy focus area for the Bahrain government. In line with its Vision 2030, the Kingdom is focused on becoming a leading centre for modern medicine, offering high-quality and financially sustainable care for patients throughout the GCC region.

-ENDS-

For more information, 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.

Why digitalisation has helped Bahraini banks escape the brunt of Covid-19

By: David Ndichy

Source: Gulf Business © 2020 MOTIVATE MEDIA GROUP. ALL RIGHTS RESERVED.

A relatively advanced digital infrastructure has done well to cushion Bahraini banks from the impact of Covid-19.

Bahrain is home to the region’s first hyper-scale data centre, was one of the first countries in the world to roll out nationwide commercial 5G, and is shifting its entire government to the cloud.

What the pandemic did was catalyse a digital evolution that was already underway, says Dalal Buhejji, director of Business Development, Financial Services, Bahrain Economic Development Board.

“Before Covid-19, the oldest banking sector in the GCC was already adapting to a more digital world, with initiatives such as Ila Bank, the kingdom’s first fully digital bank launched last year, becoming increasingly common,” explains Buhejji.

Other lenders also took initiatives – Al Salam-Bank Bahrain rolled out virtual branches and a digital onboarding app; National Bank of Bahrain was the first in the region to launch open banking services; BISB launched Bahrain’s first fully digital bank branch; and Meem became the region’s first shari’a-compliant digital banking service.

As Covid-enforced social distancing measures became commonplace, Bahrainis turned increasingly online to conduct financial services. Electronic fund transfer systems such as Fawri and Fawri+ saw unprecedented surge in usage – up 935.7 per cent year-on-year in May.

“Thanks to the kingdom’s strong digital infrastructure, disruption was kept to a minimum. Indeed, while challenging, Bahrain considers Covid-19 a catalyst for change and greater digital transformation across a range of sectors – particularly financial services,” Buhejji says.

Fintechs

The Central Bank of Bahrain, which regulates the industry, has put in place a regulatory framework that encourages collaboration between traditional banks and challenger fintechs.

Bahraini open banking startup Tarabut Gateway is helping the country’s banks roll out open banking services for example, while Eazy partnered with Ithmaar Bank to launch the region’s first biometric ATM network.

“There is a growing appetite within the financial sector, which is undergoing a seismic transformation, to explore collaboration with challenger fintechs to adopt new, innovative solutions in this way,” says Buhejji.

The ongoing digital transformation of Bahrain’s financial services industry is commendable, but more will be needed going forward as the widespread use of cash clings stubbornly on.

“The rising appetite for digital services has not matched the speed in the shift in consumer behaviour. It should be possible for a Bahraini citizen to make every conceivable financial transaction without the need for physical interaction, but that still feels a long way off,” says Buhejji.

The financial services industry is a major contributor to Bahrain’s economy – the largest, in fact, after oil, at 17 per cent of non-oil GDP.

“Digital solutions such as fintech and e-commerce are a significant part of that and will play a crucial role in our kingdom’s economy in the coming year and beyond,” Buhejji concludes.

Central Bank of Bahrain Launches Tokenization Service for Contactless Payment

The Central Bank of Bahrain, in cooperation with the Benefit Company, retail banks and Bahrain Facilities Company, announced the launch of a coding service for operating the encryption feature for contactless payment for smartphones running the Android system. This feature allows payments to be made digitally via POS devices using a smartphone.

This service is characterized by the ease of completing payment transactions, as it is done through the use of the Benefit B app by placing the customer’s smart mobile device close to the point of sale device and completing the transaction without the need to use a plastic bank card, which strengthens the preventive measures and precautionary measures taken by the Central Bank of Bahrain. For ease and speed of payment completion, as well as to contain and prevent the spread of Coronavirus (COVID-19).

The encryption service is also characterized by the highest levels of security, as it blocks the card’s data from the other party’s visibility and prevents any party from accessing it, thus the customer is protected from the risk of misuse of the data available on the card and those stored in it. The service does not require any additional data to be stored on the Benefit B app, and all that is required from the customer to activate the service is to update the Benefit B app and specify the card stored in the Benefit B app to activate the service.

On this occasion, Mr. Khalid Hamad Al-Hamad, Executive Director of Banking Supervision at the Central Bank of Bahrain, said: “We are pleased to announce the launch of a coding service for contactless payment, which coincides with the current developments in the Kingdom of Bahrain.

Al-Hamad expressed his sincere thanks and appreciation to the licensees who are ready for implementation and the companies that have worked hard during the past months to implement this strategic project. Bahrain Commercial Facilities Company, Bahrain National Bank, Kuwait Finance House, National Bank of Kuwait, Al Baraka Islamic Bank, Gulf Commercial Bank, Housing Bank for Trade and Finance, Al Salam Bank and Arab Bank.

Source: Saudi24News

GCC cities dominate top ranks in financial attractiveness index

Manama ranked first in the world

Manama – August 19 2020: Every single GCC member was represented in the top 20 most financially attractive cities in the world, according to AIRINC’s latest Global 150 Cities Index. The index ranks 150 of the top global locations according to financial attractiveness and lifestyle attractiveness. It combines local salary levels, tax rates, living costs, and living conditions to assess how appealing each location is to live in.

Bahrain’s capital Manama was named the most financially attractive city in the world, followed by Riyadh in 4th place, Kuwait City in 6th, Abu Dhabi in 7th, Dubai in 12th, and Muscat in 16th. The data is collected by AIRINC’s own in-house survey team, who continuously research the costs and living conditions of many cities around the world to evaluate international mobility.

GCC economies have invested considerable sums in making themselves more attractive to international businesses in line with ambitious region-wide economic diversification efforts. As the first GCC member to begin diversification, the Kingdom of Bahrain offers one of the easiest and most cost-effective environments to set up and operate a business in the world. Businesses operating in the Kingdom enjoy 0% tax and 100% foreign ownership allowed.

Thanks to its comprehensive programme of reforms, increasingly digital Bahrain was recently named the fourth most improved economy in the world by the World Bank’s latest Ease of Doing Business report. As well as ranking first in the world for financial attractiveness in the AIRINC index, Manama also jumped 15 places for overall attractiveness, to 48th.

–ENDS–

About AIRINC’s methodology

The financial components are aggregated to calculate the net purchasing power of a typical salary in each city, and then converted to a common currency to allow comparison between locations. The Lifestyle metrics are weighted and grouped by category to result in a score out of 100 that allows objective assessment of the living conditions between cities. Both metrics are combined to reflect the importance of each, resulting in an overall score that allows easy city-to-city comparisons and rankings.

For more information, 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.

The Economist x Bahrain EDB | The Region’s Digital Transformation

The GCC is at an inflection point. Recent decades have seen governments and businesses throughout the region increasingly embrace advanced digital technologies as a source of future growth. If successful, their efforts could help drive the region’s ambitious diversification plans.

Key challenges persist. A regional digital skills shortage, a lack of economic integration between GCC member states and increased competition from foreign multinationals with more experience in digital transformation all present hurdles that must be overcome. However, widespread diversification, a fast-evolving technology landscape and socioeconomic developments all point to a vast opportunity ahead for GCC companies that successfully invest in digital technologies.

These are the findings of the latest report from the Economist Intelligence Unit (EIU), supported by the Bahrain Economic Development Board (EDB): Innovating through Tech in the GCC. The report examines how both local and international companies in the GCC are integrating advanced technologies to offer innovative products and services to the market, especially in light of the ongoing COVID-19 pandemic.

To download the full EIU report for free and gain new insight into the region, fill out the form below:

To mark the launch of this timely report the EIU and the EDB jointly hosted a webinar titled: In Conversation: The Region’s Digital Transformation. Leading figures from the Middle East ecosystems  addressed the key questions surrounding the future of the data economy in the GCC, including:

  • As COVID-19 speeds up tech adoption, is this a chance for GCC tech hubs to compete globally?
  • Will tech progress be held back without wider economic integration throughout the GCC?
  • Are we building a skills-base for the future and are we set up to attract the world’s top talent?
  • Can the GCC states really become drivers of innovation rather than consumers of innovation, or will foreign companies continue to dominate?
  • Is the growth in available funding for promising ideas matching the rapid pace of infrastructure development?

The speakers are experts and leaders in their fields:

  • Abdulla Almoayed, a serial entrepreneur and Founder & CEO of Tarabut Gateway, the region’s first and largest Open Banking infrastructure provider.
  • Mohammed Jaffar, Chairman & CEO of Faith Capital, formerly CEO of leading MENA online food delivery service, Talabat.
  • Melanie Noronha, Senior Editor, Thought Leadership, The Economist Group.

The Webinar was moderated by the EDB’s own Tala Fakhro, Chief Project Officer for Market Strategy and Intelligence.

Bahrain and Sharjah among world’s top 5 start-up hubs – New Report

Bahrain’s response to COVID-19 praised in study

Bahrain now in top 10 Africa and MENA countries for early-stage funding, according to study

Manama, July 5, 2020: The GCC’s Bahrain and Sharjah are among the world’s top five fastest-growing ecosystems with fewer than 1,000 start-ups, according to The Global Start-up Ecosystem Report 2020.

The major study, titled ‘The New Normal for the Global Start-up Economy and the Impact of COVID-19’, assesses not only the progress of ecosystems over the last year but also how markets have responded to the ongoing global Coronavirus outbreak. In the wider region, Cairo was also in the top five, with Dubai making it into the Top 20 emerging ecosystems.

The report ranked Bahrain as one of the ecosystems in the ‘activation’ phase – describing locations with fewer than 1,000 active start-ups. It also found a dramatic improvement in funding availability in Bahrain, awarding the country nine out of 10 (up 8 places of one last year) – an achievement which puts Bahrain in the Top 10 Africa & MENA countries for early-stage funding.

The report – which tracks performance, funding, experience & talent, market research, connectedness and knowledge – also praised Bahrain’s strength in FinTech and noted the success of its stimulus programme in response to COVID-19.

Dr. Ebrahim Janahi, the Chief Executive of Labour Fund ‘Tamkeen’ commented on the report’s finding stating: “Building on its track record as a successful financial centre, Bahrain has quickly established itself as an innovative FinTech hub, home to regulations designed to enable and encourage entrepreneurship. In addition, during the current COVID-19 crisis, Bahrain has acted quickly to support adversely affected enterprises from the economic repercussions caused by the global spread of the pandemic. This is evident with the launch of the Business Continuity Support Program from Tamkeen, which comes as part of the Government’s economic and financial stimulus package announced to support both citizens and businesses in the Kingdom. With a budget of USD $  106 million allocated, the program has already helped support small and micro enterprises, providing them with financial grants ranging between USD $ 5,438 and USD 31,830 depending on the size of the enterprise, which have been disbursed over a period of three months.”

Bahrain’s Labour Fund, Tamkeen, has long been a part of GSER’s Global Network and remains a major source of government funding, including financial grants and subsidies. Tamkeen is part of a Bahrain-wide support structure for start-ups that includes Startup Bahrain, a community-led initiative, local angel networks like Tenmou, accelerators like Flat6Labs and BRINC, VCs like Middle East Venture Partners and 500 Start-ups, and local $100m Fund of Funds Al Waha.

David Parker, Co-Chief Investment Officer at Bahrain EDB in charge of ICT, said: “This recognition is a great achievement for Team Bahrain. The massive improvement in Bahrain’s score around funding is testament to the success of Al Waha Fund of Funds which has helped to drive the creation of more VC interest in Bahrain and across the Gulf, and supported the growth in our overall scores.

“But the report also recognises the comprehensive nature of the support for start-ups in Bahrain, and the positive impact of Bahrain’s stimulus programme which has helped SMEs weather the current pandemic.

He also added: “COVID-19 acted as a catalyst to the startups adaption of new technologies in all sectors including Foodtech, Smart logistics, Proptech and Healthtech aiming to improve business continuity and increase efficiencies.”

The report singles out Bahrain for its FinTech expertise, with the Central Bank of Bahrain’s FinTech Sandbox and Bahrain FinTech Bay, the region’s largest FinTech hub, being major factors in Bahrain’s growing reputation. Tarabut Gateway is the first licensed open banking platform and the largest in MENA. The GSER also recognised the Bahrain government’s $11.4bn stimulus package as a major source of support for start-ups.

Local Bahrain start-ups have been very active during the crisis. As well as providing its services for free for Bahraini government agencies, medical centres, and hospitals, Bahraini queue management start-up Skiplino has deployed its technology with Italian hospitals and UK supermarkets to help maintain social distancing during the pandemic. Similarly, GetBaqala and Weyak are both Bahrain-based apps that have been delivering medicine and pharmaceuticals direct to customers, ensuring that Bahrainis can continue to comply with social distancing rules.

-ENDS-

For more information, 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 Maintains 2nd Place among Arab countries in UN eGovernment Development Index 2020

The Kingdom of Bahrain maintained its second place ranking among Arab countries in the eGovernment Development Index 2020 ranking it among the very high categories, which was formulated based on the results of a 2020 United Nations eGovernment Survey. The index and its accompanying report, launched on Friday, 10th July, 2020 by the United Nations Department of Economic and Social Affairs (UNDESA), also highly ranked the UAE, Saudi Arabia, Kuwait, and Oman.

The report highlighted the Kingdom’s National Suggestions and Complaints System, ‘Tawasul’ as an example of a successful and innovative official government channel of communication. The system enhanced public participation and government service customer experience, contributing to the Kingdom’s high ranking and performance in the E-Participation Index (EPI). The report praised the system’s ability to reach the public through multiple electronic channels, including the National Portal (bahrain.bh) and the Tawasul app, which is available for download on both the iOS and Android systems.
The  report affirmed the significant progress achieved by the Kingdom in the Human Capital Index (HCI), reflecting the longstanding advanced quality of its primary education system and its efforts to raise its education and schooling indicators. Bahrain’s success in keeping pace with the latest technical developments and its readiness in deploying emerging technologies in government services was also highlighted along with the Kingdom’s efforts to achieve the highest levels of service quality and satisfaction.
The role of eGovernments in combating the global Coronavirus pandemic featured prominently in the report. The crisis demonstrated the important role played by eGovernment programs in advancing eServices, health consultations, crisis management, and the deployment of technologies to ensure the continuity of private sector business and day to day life.
Supported by its technical preparedness, the Kingdom was able to make great strides in digital transformation, one of the pillars of the 2020 report, by fully digitizing many government services, including judicial and education services.
The results of the eGoverment Survey, published every 2 years by UNDESA and overseen by more than 200 experts, confirmed an improvement in the eGovernment Index compared to previous reports, recording a rise from 0.8116 in 2018 to 0.8213 this year.
Originally in Information & eGovernment Authority.

UAE and Bahrain rise in world’s top 100 startup destinations ranking

Manama, June 18 2020: The UAE and Bahrain have ranked among the 100 top destinations for startups around the world, according to a new study by StartupBlink.

The research firm’s annual Startup Ecosystem Rankings Report calculates a score for each country based on tens of thousands of data points gathered from more than 50,000 members working as venture capitalists, founders and employees of small firms.

In this year’s rankings, the UAE came in at 43rd, while Bahrain jumped 20 places to 75th, ranked first and second respectively in the GCC. The report praised Bahrain’s “collaborative startup community” and “framework of legal and support systems for startups and entrepreneurs”. Initiatives including StartUp Bahrain, Tamkeen and Bahrain FinTech Bay were also highlighted – as well as favourable tax conditions and recent record investment highs.

The research also mentioned several Bahrain-based startups such as Rain, the first licensed cryptocurrency platform, and Skiplino – a cloud-based queue management system that allows companies to intelligently manage social distancing during the COVID-19 pandemic.

The UAE, meanwhile, was recognised for the potential of its Arab-speaking market and close involvement of the government in the local startup ecosystem.

Commenting on the release of the report, Eli David, CEO of StartupBlink, said: “Good startup ecosystems are fundamental. They create jobs, boost the economy, increase tax revenue, improve quality of life and urban innovation, and attract and retain talent. As an entrepreneur, location will greatly influence the chances your startup will succeed.

“Knowing how well your ecosystem performs is also important. Corporations use these rankings to make decisions about future expansion, universities and consulting agencies use them for research, and governments and local development organization use them to gauge how well their programs are paying off.

“The efforts of governments, municipalities, and development organizations make a real difference. Knowing this information and measuring it mathematically without sugarcoating results helps track real progress and creates an urgency to encourage improvement.”

Pakiza Abdulrahman, Manager, Startups at Bahrain Economic Development Board, said: “Picking a startup location is one of the most important choices a founder can make, affecting everything from taxation levels to market access and the cost of doing business.

“Startups coming to Bahrain join a thriving ecosystem that combines pro-enterprise regulation with competitive costs, backed by the support of a government that listens – not to mention our unrivaled access to the $1.5 trillion GCC market.

“We are delighted that the Bahrain approach – and that of the wider Arab region – continues to gain recognition and we look forward to enhancing our support for the startups of tomorrow and today.”

Bahrain offers startups an ideal testbed location for new ideas, combining pro-enterprise government policies with an ever-evolving ecosystem and a wide pool of international talent.

Startups in the Kingdom raised more than USD63 million in funding during 2016-2019, driven by a surge of investments in the MENA region in recent years –564 venture deals worth USD 704 million were made in 2019 compared to 294 deals in 2015, for example.

The full report can be viewed here: https://report.startupblink.com/

– End –

For more information, 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 becomes 1st country in MENA to ratify United Nations treaty on electronic communications

 

Manama, June 14 2020: Bahrain has become the first country in MENA to ratify a key United Nations convention on electronic communications, helping to enable a new wave of digital business across the region and enhance investor protections.

The United Nations Convention on the Use of Electronic Communications in International Contracts (2005) aims to enhance commercial certainty by ensuring that contracts concluded and other communications exchanged electronically are as valid and enforceable as their traditional paper-based equivalents and by introducing specific principles surrounding the use of technology during signing processes. This will enter into force for Bahrain on January 1 2021.

The principles of the treaty include defining terminology such as ‘writing’ and ‘signature’ so that all parties are legally protected when entering into a contract. The convention also aims to remove legal obstacles to the use of electronic communications in enacting previous treaties that were first created before the widespread use of modern technology.

Bahrain became the 14th country globally to join the treaty, alongside major economies such as Singapore and Russia. Countries that have signed, but not yet ratified, the convention include China, the Republic of Korea and Saudi Arabia.

It comes after Bahrain made history in November 2018 by becoming the first nation to enact legislation based on the United Nations Commission on International Trade Law (UNCITRAL) e-commerce model laws. The move was part of a series of sweeping reforms aimed at bolstering the digital readiness of the GGC region’s US$1.5 trillion economy.

Commenting on the announcement, HE Khalid Humaidan, Chief Executive of Bahrain Economic Development Board, said: “To build a truly digital economy in the GCC, it is essential that our regulation keeps pace with the latest developments – particularly at a time when more and more business is being conducted in the virtual realm.

“Bahrain is leading the way on tech-driven reforms and is committed to supporting the needs of entrepreneurs and investors as they work to build long-term growth in our thriving e-commerce landscape.

“We look forward to continuing to work closely with the United Nations as we stay on the cutting edge of legislative developments.”

Luca Castellani, Secretary of Working Group IV (Electronic Commerce) of the United Nations Commission on International Trade Law (UNCITRAL), noted: “The accession of Bahrain to this treaty completes the significant work that the Government of Bahrain and the UNCITRAL Secretariat have carried out together to provide Bahrain with a modern, efficient and effective enabling legal framework for the digital economy. I am confident that this will encourage more countries in the region and worldwide to adopt the latest UNCITRAL texts in the field.”

Stefano Pettinato, Resident Representative of the United Nations Development Programme said: “By ratifying the UN Convention on electronic communications, the Kingdom of Bahrain sets an example on how digital technology, international law, and multilateralism are enabling factors for the promotion of international trade and the achievement of the Sustainable Development Goals through greener and more efficient protocols.”

Further information about the Electronic Communications Convention is available on the UNCITRAL website.

 

For more information, please contact:

Strategic Communications

United Nations Development Programme

Phone: 973 17319423

Email: ali.salman@undp.org

 

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.

Saaya Health: Covid sputs growth as several Global Brands sign deals

21st May, 2020

Saaya Health Tech, a Bahraini based Digital EAP company providing Mental Health Access to employees using its PaaS model has seen a boom in its usage post-Covid19.

In the months since February alone, they have signed deals with the billion-dollar Bayer Pharma of Germany and also the Chemical behemoth Engro Corp of Pakistan. There are reports of another deal with a UK Multi-national in the pipeline.

In addition to their Insurance partnerships across the region, Saaya Health now has access to more than 700,000 clients to avail their Digital Mental Health services.

Emotional & Mental Health has become one of the lead focus, with the WHO citing that “the next pandemic will be Emotional & Mental Health as a result of the shocks of Covid-19” Founded in Bahrain in May 2018, Saaya Health’s Digital EAP services are beginning to take flight.

“For two years, we laid the foundations, building our global network of Multi-Lingual Therapists. Therapists who speak Local languages –  Arabic, French, Hindi, Urdu and over a dozen more languages – and now we are beginning to reap the rewards of being prepared” said Saaya Health Founder Sarmad Ahmad, continuing,

“We all have emotions – and our emotions dictate our actions – but we are just now beginning to realise this on a very personal level”

Corporates that invest in Employee Mental health have greater retention & productivity. A Deloitte 2018 report states that for every $1 invested in Mental Health services, $4 are saved by companies.

Saaya Health is poised for regional growth and is looking to aim a Direct-to-Consumer channel as well – aimed at affordable, culturally relevant mental health.

For more information on how your company can benefit:

contact@saayahealth.com 

www.saayahealth.com

 

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