Bahrain attracts BHD 37 million worth of Direct Investments in ICT Sector

Bahrain attracts BHD 37 million worth of Direct Investments in ICT Sector

Bahrain’s Economic Development Board (EDB) attracted USD98 million (BHD37 million) worth of Direct Investments from 14 prominent international companies in its Information and Communications Technology (ICT) sector in the first 3 quarters of 2022. These investments will further economic growth and are expected to create over 770 jobs to help achieve the objectives of the Kingdom’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. Commenting on the investments, Musab Abdullah, Executive Director of Investment Development – ICT at the Bahrain Economic Development Board, said: “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