Fourteen international companies have invested $98 million in Bahrain’s tech sector. As per the Bahrain Economic Board these companies have invested in Bahrain’s Information and Communications sector.
These investments will further economic growth and are expected to create over 770 jobs to help achieve the Bahrain’s Economic Recovery Plan.
Through the Economic Recovery Plan, Bahrain launched a 4-year Telecommunications, ICT, and Digital Economy Sector Strategy (2022-2026) earlier this year. The strategy has four main pillars, including the development of the telecommunications infrastructure, supporting the digital economy, enhancing e-governance, and developing digital capacity.
The strategy aims at improving the Kingdom’s overall global position in the e-Participation index of the UN eGovernment Survey, establishing a world-class digital infrastructure, and increasing the efficiency of government services through e-transformation.
Musab Abdullah, Executive Director of Investment Development, ICT at the Bahrain Economic Development Board, stated, “We are pleased to see more and more ICT companies calling Bahrain home for their regional operations. The continuous development in the ICT sector is a strategic priority for the Kingdom. The Kingdom’s highly qualified local talent, best-value operating costs, as well as its strategic location and connectivity to the entire region positions Bahrain as the destination of choice for global ICT companies.”
Bahrain is ranked first in MENA for ICT readiness by the UN. The ICT sector is a major pillar in Bahrain’s economy. The sector generates large numbers of high-value jobs, of which 59 per cent of jobs are held by Bahraini nationals. According to statics released by the Ministry of Finance and National Economy, the ICT sector contributed 6.8 per cent to Bahrain’s real GDP at the end of Q4 2021.
