Bahrain Economic Development Board (Bahrain EDB) has attracted $295 million in direct investment within the information and communication technology (ICT) sector in the first nine months of 2023, revealed at Gitex Global in Dubai Became.
Direct investments in the ICT sector resulting from 14 national and international projects are expected to create more than 1,600 jobs within three years. This investment is part of a total of $1.4 billion worth of direct investments planned for the period.
Speaking on the sidelines of Gitex, Musab Abdullah, Executive Director of ICT Business Development at EDB, said: “The continued development of the ICT sector is a strategic priority for Bahrain and remains a vital contributor to the diversification and growth of the national economy. This milestone achievement in direct investment in the ICT sector Digital transformation will become the basis for sustainable economic development, with positive spillover effects across the sector.”
Abdullah said: “With a forward-thinking regulatory government and ease of doing business, Bahrain has established itself as a destination of choice for companies seeking highly skilled and promising talent. Keen to tap into a rapidly growing market, leading technology companies in the ICT sector and impactful investment projects choose Bahrain for data management, exceptional customer service, software development and service delivery.”
Backed by a progressive government framework, unparalleled direct operating cost advantages (28% lower than in the region), and a young and tech-savvy population, Bahrain is a leading source of ICT talent and investment at regional and global levels. continues to establish itself as a popular destination. He said.
Recent investment projects include the Saudi Telecommunications Company (STC) regional cable system, which received a golden license earlier this year. Additionally, the region’s largest shared services center in Talabat has chosen Bahrain as its host destination due to the quality of its digital talent and attractive investment environment, demonstrating Bahrain’s ability to provide professional services at regional and global levels. Did.
Driven by a clear vision and a proactive government, Bahrain has made significant strides in the ICT sector with world-class infrastructure connectivity, solidifying its position as a performance magnet for investment and digital transformation. Bahrain currently leads the world in terms of government hosting data and services on the cloud, with 85% already hosted on the cloud, the statement said.
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