Manama, October 12 (BNA) The Bahrain Economic Development Board has attracted $98 million (37 million Bahraini dinars) in direct investments from 14 prominent global companies in the information and communications technology sector in the first three quarters of 2022.
These investments will boost economic growth and are expected to create more than 770 job opportunities to help achieve the objectives of the Kingdom’s economic recovery plan.
Through its economic recovery plan, Bahrain launched a 4-year ICT sector strategy (2022-2026) earlier this year. The strategy is based on four main pillars, including developing communications infrastructure, supporting the digital economy, enhancing e-governance, and developing digital capabilities.
The strategy aims to improve the Kingdom’s global position in the e-participation index of the United Nations e-government survey, establish a world-class digital infrastructure, and increase the efficiency of government services through electronic transformation.
“We are pleased to see more and more ICT companies taking Bahrain as home to their regional operations. Continuous development in the ICT sector is a strategic priority for the Kingdom. The Kingdom’s highly qualified local talent, and better value operating costs, as well as For Investment Development – ICT in Bahrain Economic Development Board, its strategic location and connectivity to the entire region makes Bahrain the preferred destination for global ICT companies.
As a result of the government’s vision to position the Kingdom as a leading regional hub for ICT, and a regional hub for ICT industries such as games and internationally connected data centers, Bahrain is today ranked first in the MENA region for ICT readiness by the United Nations.
The ICT sector is a mainstay in Bahrain’s economy. The sector generates large numbers of high-value jobs, of which 59% are occupied by Bahrainis. According to statistics from the Ministry of Finance and National Economy, the ICT sector contributed 6.8% of Bahrain’s real GDP at the end of the fourth quarter of 2021.
The Bahrain Economic Development Board attracted direct investment of US$921 million (BD348 million) from 66 companies during the first nine months of 2022. The investments are expected to generate more than 4,700 jobs over the next three years in key sectors, including These include financial services, information and communications technology, logistics and manufacturing. and tourism.
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