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Bahrain’s technically advanced position stimulates investments: Al Hujairy

January 13, 2021

Mr. Ahmed Al Hujairy, advisor of Bahrain Society for Technology Companies (BTECH), and Internet Society -Bahrain chapter chairman stressed the significance of promoting the content of the Gulf States Institute in Washington (AGSIW) report, that highlights Bahrain’s achievements in various fields of digital technology, in order to attract more investors and increasing networking with institutions and global economic decision-making circles and accelerating the process of digital transformation. He added that the vision and efforts of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, have resulted in placing the Kingdom of Bahrain — despite its small geographical area — on the global map in the field of a sustainable economy built on knowledge.

Al Hujairy noted that the development of communications and transportation has facilitated the movement of money and business performance around the world, and this is an increasing challenge for traditional rentier economies, and at the same time a window of opportunity for digital economies that depend on innovation in the digital field and the export of digital goods and services such as AI techniques and FinTech, mobile applications, video games and ads via social networks.

“It’s essential for technology companies in the private sector to support the great national ambitions in the field of digital technology, to benefit economic performance, in addition to focusing on establishing Bahrain as a leading center in the field of digital innovation by encouraging Bahraini entrepreneurs who have innovative digital ideas and projects, and the localization of global digital experiences, and activating experience of digital business incubators and accelerators.” Al Hujairy said.

Al Hujairy considered that economic developments and the decline in oil prices would stimulate the exploration of new methods in the way service and productive institutions operate, increase their efficiency and reduce their expenditures by increasing their dependence on automation and modern technical applications, calling for the continuation of capitalizing on the successes achieved in the technical field such as the application of the 5G network, and the experimental environment in Bahrain Fintech Bay.

“Bahrain has become one of the highest countries in internet usage rates, mobile phone, and social media, and the Kingdom’s adoption of the “Cloud-First” policy not only contribute to enhancing the performance of government institutions and reducing their operating costs but also represents a wide step towards establishing Bahrain as a regional center to host data, which was reinforced by a law passed in 2018 that regulates the process of providing cloud computing services to foreign parties.” Al Hujairy added.

Al Hujairy concluded his statement by saying: “The Economic Development Board fulfilled a prominent role in this field over the past years by placing the ICT sector at the forefront of five basic sectors targeted for growth, in addition to the financial, tourism, industrial and logistical sectors. We must also praise the qualitative role performed by the Labor Fund “Tamkeen” as a financing arm of the government to support private sector institutions and develop national cadres in all fields, including the technical field.