Conexus Resources Group, the UK-headquartered pioneer of innovative solutions in the metals and agricultural commodities sectors operating in 15 countries across the world including Switzerland and Singapore, announced today the inauguration of its flagship aluminium rod plant in Bahrain, Konexus Aluminium. The new facility affirms Bahrain’s standing as a leading destination for manufacturing and export hub to international markets. With an investment value above USD 100 million, the state-of-the-art 32,000 metric tonnes per annum facility will leverage the Group’s combined expertise in cutting-edge processing and logistical capabilities in managing global value chains to process liquid aluminium from Bahrain’s national manufacturer, Alba, into high-quality aluminium rods, serving regional and international clients.

Currently the second largest non-oil contributor to real GDP standing at 13.9% as of 2023, Bahrain’s manufacturing sector has maintained a healthy pipeline of national and international companies which includes Alba, the largest single-site smelter outside of China producing more than 2% of the world’s aluminium output, offering manufacturing companies investment-ready land for aluminium downstream projects. The sector remains a point of focus as one of the five priority non-oil sectors outlined by the national Economic Recovery Plan.

 Dr. Khaled Fahad Alalawi, Assistant Undersecretary for Industrial Development at the Ministry of Industry and Commerce, remarked, “This inauguration marks yet another milestone achievement that stands as a testament to Bahrain’s thriving manufacturing sector, where Bahrain continues to provide companies with an ideal gateway to tap into the Middle East market and beyond.”

He continued, “Over the past 18 months, Conexus Resources have made remarkable progress in establishing their rod plant facility, owing to the collaborative efforts of Team Bahrain as well as Alba. This initiative is a giant stride for the local manufacturing sector and is furthered by a larger strategic plan that will see the development of the Kingdom’s aluminium downstream park, further placing Bahrain at the forefront of aluminium manufacturing on regional and global levels.”

Manufacturing companies operating in Bahrain benefit from a business-friendly environment, a favourable tax regime, with 100% foreign ownership enabled across most sectors, and expert insights backed by a diverse portfolio of aluminium manufacturing companies that effectively complement downstream clustering. Export-focused firms gain streamlined connectivity to international markets with advanced air and sea freight connectivity and direct access to the Kingdom of Saudi Arabia via the King Fahad Causeway.

Brijender Pal Singh, Chief Executive Officer of Conexus Resources Group, added, “We are pleased to officially go-live with production at our newly constructed and inaugurated state-of-the-art aluminium rod plant in Bahrain. Konexus aims to provide high-quality aluminium rods to global industrial uses, and Bahrain was a clear destination of choice given the availability of experienced and highly skilled local talent, duty-free trade advantage and strategic location that offers direct access to one of the fastest growing markets in the world.”

Ali AlMudaifa, Chief of Business Development at Bahrain Economic Development Board, said, “Beyond its strategic location and free trade agreements covering 22 countries, Bahrain provides investors the best value manufacturing operational costs in the region with unparalleled export efficiencies owing to a world-class logistics zone, providing fertile ground for companies looking to set up and expand across the region – the Konexus Aluminium plant is a welcome addition to Bahrain’s thriving aluminium industry, adding-value with their niche experience and capabilities.” In line with the sustainable development goals outlined in the national Economic Recovery Plan (ERP), Bahrain has continued to strategically develop its non-oil priority sectors to sustain national economic growth and diversification. As part of the ERP, the Industrial Sector Strategy (2021-2026) set out a roadmap to further elevate the Kingdom’s manufacturing sector, which includes the recently launched US Trade Zone, and the development of the Aluminium Downstream Park. Situated near the Alba factory, the Park aims to further develop Bahrain’s logistics sector by providing the necessary infrastructure to establish a downstream zone for the aluminium sector to attract local and foreign investment.

Based on a recently published Economic Impact Study by the International Data Corporation (IDC), cloud spending in Bahrain is projected to contribute over USD 1.2 billion to the Kingdom’s GDP by the year 2026 (an equivalent to approximately 2.3% of GDP). This is expected to generate an economic return of USD 6.7 for every dollar invested in cloud technology and projected to create over 9,300 jobs. The results of the study, which conducted a comprehensive analysis of national investments in cloud technology and infrastructure to determine its impact on the economy, determined that Bahrain’s forward-looking legislation, business-friendly environment, and digitally skilled local talent, have been pivotal in achieving a remarkable cloud journey and technological progress.  

According to IDC, Bahrain has demonstrated strategic and tactical awareness in its agile responsiveness to global trends in an era of digital innovation by being the first in the region to mandate a national Cloud-First policy, which led to increased cloud spending in 2019. Having conceptualised a cloud security framework, and enacted flexible regulations, Bahrain has established a mature, cloud-ready infrastructure and ecosystem, effectively positioning itself as a leading regional cloud and data centre hub in the Middle East and North Africa (MENA) region.

The white paper additionally determined that Bahrain’s Cloud-First Policy, the public sector’s commitment to digitising national infrastructure, and the ongoing investments in cloud-based solutions have led to enhanced operational performance for organisations across multiple sectors, where the use of data analytics and advanced AI technologies will further fuel nation-wide cloud adoption. Bahrain’s leading position in digitising its economy and advancing its ICT infrastructure with key digital initiatives was spearheaded by government bodies including the Information & eGovernment Authority (iGA) and Bahrain Economic Development Board (Bahrain EDB).

The collaborative efforts successfully accelerated cloud adoption and digital transformation, leading to new regulations being pioneered in Bahrain, such as the data jurisdiction law. This was further backed by the Labour Fund, Tamkeen, which has consistently invested in the upskilling and reskilling of the national workforce. As a result, Bahrain has secured key success stories as part of its digital transformation journey, in the likes of Amazon Web Services (AWS), which chose Bahrain as the destination to host the first AWS Region in the Middle East and North Africa in 2019.

“Bahrain adopted a Cloud-First policy early on in its digital transformation journey and we are proud to have been the first cloud provider, implementing advanced and secure technology infrastructure aiding in the growth of the country’s IT and cloud spending. At AWS we continue to meet the demands of our customers as new trends in cloud computing, artificial intelligence, data analytics, and many more are emerging at an accelerated pace, driving positive change and economic impact. We are committed to supporting Bahrain as it makes strides in investing in cloud infrastructure across all industries,” said Wojciech Bajda, Managing Director, Public Sector, Middle East, Turkey and Africa, AWS.

“As Bahrain successfully drives its Cloud-first strategy, economic benefits multiply from the ability to scale resources and leverage the workforce, increase accessibility and productivity, and reduce costs while increasing security. Bahrain’s Cloud first strategies will result in accelerated innovation, further stimulating the digital economy,” commented Jyoti Lalchandani, Group Vice President and Regional Managing Director of IDC Middle East, Turkey & Africa.

Musab Abdulla, Executive Director of Business Development, ICT, at Bahrain EDB said, “Bahrain has continuously led the region in digital transformation and adoption of latest technologies. This has resulted in a number of strategic benefits to the Kingdom, including being the globally leading government adopter of cloud infrastructure, with over 85% of all government entities and services being hosted on the cloud. In addition to leading by example, Bahrain’s unique value proposition which offers a highly skilled workforce, unparalleled financial freedom, and the region’s most competitive average annual operating costs has cemented Bahrain as the destination of choice for cloud computing providers including AWS.”

Another key takeaway of the report outlined the economic impact of Bahrain’s cloud adoption, where a similar study conducted by IDC in 2021 analysed the impact of cloud services spending in Europe, which began prior to 2016. Despite the fact Bahrain’s major cloud spending did not start before 2019, the impacts of its GDP contribution, revenue, and employment are similar. Spending on public cloud services in Bahrain is expected to grow by 14.9 times between the base year of 2018 and 2026 — making it one of the fastest among countries in the Middle East and Africa (MEA) region.

The full white paper, Cloud Strategy and Its Impact on Bahrain’s Economy, can be found on (link).

Resecurity Inc. (USA), a Los Angeles-based cybersecurity and intelligence company serving Fortune 500 clients globally, recently announced the opening of its latest office in Manama, Bahrain, supported by the Bahrain Economic Development Board (Bahrain EDB). Marking the expansion of its global footprint with offices that include Rome, Seoul, Singapore, and Bangkok, as well as countries across the Middle East and North Africa region, the Manama-based office will serve the local market as well as Resecurity subsidiaries across the Gulf Cooperation Council (GCC). Within the first year of operation, the cybersecurity firm will additionally set up a dedicated technology hub to serve regional and global clients, comprising intensive graduate training programs in cybersecurity.

With progressive government frameworks and world-class digital infrastructure, Bahrain has made impressive strides in its national sector-wide digital transformation agenda, with initiatives that include introducing a Data Jurisdiction Law, the first of its kind in the world, and adopting a Cloud-First Policy in 2017. Home to the first US-based Amazon Web Services (AWS) infrastructure region in the Middle East and Africa, Bahrain has increasingly placed itself on the global map of investment attractiveness. Backed by government-subsidised training programs to reskill its workforce with future market skills, Bahrain continues to supply international investors with a diverse, future-ready, and highly skilled talent pool.

Gene Yoo, Chief Executive Officer of Resecurity Inc., said, “Delivering unparalleled visibility into complex cybersecurity threats that are becoming increasingly sophisticated and pervasive worldwide, we serve clients in a variety of industries with global reach. In view of Bahrain’s skilled workforce and progressive Cloud-first government policy, our latest office and technology hub in Bahrain marks a pivotal decision to serve clients locally and in the Gulf beyond, enabling us to tap into growth opportunities in the dynamic regional information security market to bring cybersecurity solutions closer to businesses and organisations.”

Musab Abdulla, the Executive Director of Business Development Information and Communications Technology (ICT) at Bahrain EDB said, “Implementing increased cybersecurity measures to safeguard local communities, governments, and leading organisations has become a global necessity in today’s digital age, and Resecurity’s services will further fortify the security of the regional landscape. Bahrain has cemented itself internationally as a trusted destination for investment backed by progressive government policies and a future ready workforce. Resecurity’s tech hub will facilitate the exchange of knowledge and expertise through dedicated workshops and training programs designed to further empower the local workforce with the necessary skills to navigate the ever-evolving cybersecurity landscape.”

Known for providing best-of-breed data-driven solutions across multiple sectors including financial institutions, government bodies, and energy companies; the new Manama-based office aligns with Resecurity’s aim of accelerating the delivery of its cybersecurity and threat intelligence offerings on a regional and international level. Resecurity was recognised as a leader in the cyber threat intelligence market in the Frost & Sullivan Global Threat Intelligence Platforms Market 2022 report.

Manama, Bahrain 28, October 2023. A high-level Bahrain delegation headed by H.E. Abdulla bin Adel Fakhro, Minister of Industry and Commerce and Acting Minister of Tourism, successfully concluded its official visit to China, which kicked off as of October 21 spanning across the three cities of Guangzhou, Shenzhen, and Beijing.

Organised by the Ministry of Industry and Commerce (MOIC) with the support of the Bahrain Economic Development Board (Bahrain EDB), the visit was designed to strengthen economic ties and attract high-impact investment projects to Bahrain, with a focus on priority industry sectors.

In addition to key officials from the MOIC and senior executives from Bahrain EDB, including its Chief Executive, H.E. Khalid Humaidan, the delegation comprised senior representatives from Bahrain’s public and private sectors, including representatives from the Bahrain Chamber of Commerce and Industry headed by its Second Vice Chairman, Mohamed Abduljabbar AlKooheji.

In addition to the site visits and meetings organised with government officials, the agenda included a series of investor meetings and two keynote economic forums focused on attracting leading investment projects with a focus on the manufacturing and information and communication technology (ICT) sectors.

The first, titled ‘China GCC Economic and Trade Forum’ was hosted by the Ministry of Commerce of the People’s Republic of China in Guangzhou, and the second was hosted by Bahrain EDB with the support of the Chinese Overseas Development Association (CODA) in Beijing. Additionally, CODA hosted an exclusive session for the Bahrain business delegation held in honour of the 20th anniversary of CODA.

On the sidelines of the events, Gulf Air announced its two new direct routes to Guangzhou and Shanghai, in line with its plans to continue to expand its global network of destinations. The two routes, which are set to operate from January 2024 , will include direct flights from Bahrain International Airport (BIA) to Guangzhou Baiyun International Airport (CAN) and Shanghai Pudong International Airport (PVG), are expected to enhance trade and tourism ties.

During the visit to Beijing, Bahrain signed four agreements to further strengthen ties with China, including the signing of a Letter of Intent of the Corporation Plan on the Belt and Road Initiative between Bahrain’s Ministry of Foreign Affairs and the National Development and Reform Commission of China, and a Memorandum of Understanding (MOU) for cooperation in the field of Tourism, signed between Bahrain’s Ministry of Tourism and China’s Ministry of Culture and Tourism.

Additionally, the Ministry of Industry and Commerce signed two MOUs with China’s National Intellectual Property Administration in the field of Intellectual Property and on the Patent Prosecution Highway Pilot Program.

H.E Abdulla bin Adel Fakhro, the Minister of Industry and Commerce and Acting Minister of Tourism, said, “This trip was paramount in enabling us to demonstrate to leading manufacturers, technology companies, and tourism enterprises in China that are expanding globally the unique benefits of setting up in Bahrain, with the aim of further building upon existing commercial and trade ties for the mutual benefit of both countries.”

China remains one of Bahrain’s top five largest trading partners wherein as of 2022, the volume of non-oil bilateral trade between both nations reached approximately USD 2.4 billion. Beyond heavily contributing to the completion of large-scale construction and infrastructure projects, various China-based companies benefit from established operations in Bahrain which provides strategic access to the wider Gulf market.

This includes Huawei, which has its Middle East and Central Asia Headquarters based in Bahrain, CPIC Fiberglass, the largest leading fiberglass manufacturer in China which has a facility set up in Bahrain International Investment Park, and KKC Industries WLL (iCOOL), a Chinese manufacturer of heating, ventilation, and air conditioning (HVAC) products, where through its manufacturing facility in Bahrain produces and exports key products across the Middle East, United States, and European markets.

Manama, Bahrain – 21 October 2023. A high-level Bahrain delegation led by H.E. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, and the acting Minister of Tourism, is headed on an official visit to China scheduled from October 21 to October 27.

Organised by the Ministry of Industry and Commerce (MOIC) with the support of the Bahrain Economic Development Board (Bahrain EDB), the visit is designed to strengthen economic and trade ties between the two countries, as well as promote high-impact investment opportunities in Bahrain.

With a focus on attracting leading investment projects across priority sectors, the visit will bring together over 20 senior representatives from Bahrain’s public and private sectors. In addition to key officials from the MOIC and senior executives from Bahrain EDB, including its Chief Executive, H.E. Khalid Humaidan, and the delegation will be supported by representatives from the Bahrain Chamber of Commerce and Industry, led by its Second Vice Chairman, Mr. Mohamed Abduljabbar AlKooheji.

Encompassing three cities with a set agenda of strategic investor and government meetings alongside key networking events, the trip will commence in Guangzhou, set to include a visit to the Canton Fair, the largest trading event in China, and additionally feature China-GCC Trade Forum which will be hosted by China’s Ministry of Commerce. The delegation will continue to Shenzhen, then to China’s capital, Beijing, which will feature a business forum along with business to business meetings hosted by Bahrain EDB in collaboration with China Overseas Development Association (CODA).

H.E Abdulla Bin Adel Fakhro, the Minister of Industry and Commerce and acting Minister of Tourism, said, “Owing to its strategic location in the heart of the Gulf, progressive government and foreign ownership policies, Bahrain provides an ideal destination for Chinese manufacturers and enterprises expanding globally. With a strong interest in international investment demonstrated, and a healthy pipeline of leading projects from China, we look forward to promoting new commercial opportunities across focused sectors, further building upon strong economic and trade ties, and forming new strategic partnerships for the mutual benefit of both countries.”

China remains one of Bahrain’s top five largest trading partners wherein as of 2022, the volume of non-oil bilateral trade between both nations reached approximately USD 2.4 billion. Beyond heavily contributing to the completion of large-scale construction and infrastructure projects, various China-based companies benefit from established operations in Bahrain which provides strategic access to the wider Gulf market. Huawei, which set up its Middle East and Central Asia headquarters in Bahrain in 2009, formed an instrumental role in Bahrain’s early adoption of nationwide 5G, and in furthering the national digital agenda.

• A testament to investor confidence in Bahrain as a global destination for talent and investment

Bahrain Economic Development Board (Bahrain EDB) has attracted USD 295 million in direct investments within the Information and Communications Technology (ICT) sector as part of a total projected direct investment worth USD 1.4 billion, during the first nine months of 2023. Stemming from 14 local and international projects, the direct investments for the ICT sector, are expected to generate over 1,600 jobs within three years.  

On the sidelines of GITEX, Musab Abdullah, Executive Director of ICT Business Development at the Bahrain Economic Development Board, said, “The continuous development of the ICT sector is a strategic priority for Bahrain and remains a pivotal contributor to the diversification and growth of the national economy. This milestone achievement in direct investments for the ICT sector will result in a positive ripple effect across sectors, with digital transformation being a cornerstone of sustainable economic development.”

Musab Abdullah, “Together with its progressive regulatory government, and ease of doing business, Bahrain has earned its standing as the destination of choice for companies seeking highly skilled, future ready talent. Leading technology companies have been keen to tap into the Gulf’s rapidly growing market, and we take pride in witnessing impactful investment projects and industry giants in the ICT sector choose Bahrain as the base for their operations in data management, customer service excellence, software development and service delivery.” 

Backed by progressive government frameworks, an unparalleled direct operating cost advantage (28% lower than the region), and a young and tech-savvy population, Bahrain continues to cement itself as a leading destination for ICT talent and investments on regional and global levels.

Recent investment projects include the regional cable system of Saudi Telecommunication Company (stc), which was awarded a Golden License earlier this year. Additionally, Talabat’s largest shared services centre in the region chose Bahrain as its host destination for the quality of its digital talent and its attractive investment environment, demonstrating Bahrain’s ability to provide professional services at regional and global levels.

Driven by a clear vision and a forward-looking government Bahrain has made great strides in its ICT sector owing to the world-class connectivity of its infrastructure, solidifying its position as a results-yielding magnet for investment and digital transformation. Bahrain is now leading the world when it comes to governments hosting its data and services on the cloud, with 85% already being hosted on the cloud.

• Bahrain scored exceptionally well across key rankings, scoring 2^nd position in the Arab world in The Institute for Management Development (IMD) latest World Talent Ranking across investment and development, appeal, and readiness of its talent pool.
• A testament to investor confidence in Bahrain as a destination for talent – Citi’s Global Tech Hub, the regional service centres of both Talabat and PwC Middle East, and KPMG’s Low-Code Centre of Excellence all serve regional and global clients from Bahrain.

Bahrain ranked in the top half (27^th) of 64 global economies on the 2023 Institute for Management Development (IMD) World Talent Ranking, climbing 8 positions since 2022 and placing 2^nd in the Arab World. The rankings assess three factors of each country: the investment in and development of home-grown talent, the appeal factor – which goes beyond the focus on retaining the local workforce incorporating the ability to tap into the overseas talent pool, and finally the workforce’s competencies and quality of skills. 

Owing to a tech-savvy, driven, and diverse workforce, Bahrain has cemented itself as a leading destination for international investors that are seeking highly skilled talent. Moreover, the island nation’s strategic location in the heart of the Gulf offers promising operational growth opportunities for businesses seeking to tap into the Middle East and North African market and beyond.

A strong indicator of the deep-rooted investor trust in Bahrain’s talent pool, the past few years have witnessed leading regional and global industry leaders base their service centres and technology hubs in Bahrain. Citi’s Global Tech Hub, the regional service centres of both Talabat and PwC Middle East, alongside the recently announced KPMG Low-Code Centre of Excellence, are collectively set to generate 2410 employment and training opportunities for the local workforce.   

Bahrain also performed remarkably well on the “Readiness” index of the report analysing the talent landscape, which assessed key criteria including availability of international experience and competency of senior managers, landing an overall score of 73.7%, earning Bahrain the admirable position of 6^th globally in both finance skills and language skills.

With sector-wide digital transformation initiatives implemented year after year, the government and private sectors in Bahrain operate as an agile collective, harnessing the ‘Team Bahrain’ approach to continue to foster a thriving ecosystem conducive to successful long-term business performance, thereby cementing the strategically located island nation’s eminence as a value-adding destination for investors.

Nada AlSaeed, Chief of Strategy at Bahrain Economic Development Board, said, “Talent competitiveness increasingly hinges on a country’s commitment to empower its workforce. For Bahrain, the continued investments in talent have gained the trust of investors, further demonstrated in the rise of global data centres and tech hubs setting up their roots locally.”

The Chief of Strategy added, “These home-grown achievements enable Bahrain to build on its position as a leading destination for talent on a global scale, owing to the local Bahraini’s working side-by-side with a diverse pool of global experts offering specialised skills and qualifications to serve international clients and their future demands.”

With recent initiatives that include Tamkeen’s ‘Kawader’ skills portal, which connects local talent with high-potential job opportunities in the ICT sector, as well as the establishment of the nationally backed initiative Hope Talent, a talent management organisation that matches high-achieving candidates with the right job opportunities, Bahrain continues to earn its stripes as a leading destination for highly skilled talent. Bahrain’s forward-looking government continues to invest in the local talent pool, upskilling and reskilling individuals with the requisite skills to meet rapidly changing market needs. The creation of high-value job opportunities is one of the key pillars under the national Economic Recovery Plan launched in 2021, which prioritises the development of an innovative, adaptive local workforce, targeting the employment of 20,000 and the training of 10,000 annually until 2024, with a focus on the financial services and ICT sectors.

Supported by the Bahrain Economic Development Board (Bahrain EDB), FLOOSS, a digital financial services platform born out of Bahrain, has launched its digital consumer lending service to users. The lending service is a first of its kind where loans are approved in minutes, FLOOSS is a testament to Bahrain’s successful strides in driving innovation in the financial services sector through forward-looking regulations.

Through their mobile app (available on Android & iOS), FLOOSS enables customers to apply for consumer loans of up to BHD 750 and pay-off the loan over a period of up to 12 months. FLOOSS aims to leverage technology and data sciences to make lending more accessible for much of the population in order to utilise loans for unplanned expenses, travel, school fees, emergencies, and other financial requirements.

In addition to its license in Bahrain, FLOOSS is planning to expand within the KSA as well – a significant step towards achieving its regional expansion plans to tap into USD 141.6 billion Bahrain and KSA consumer loans market.

According to Fawaz Ghazal, Chief Executive Officer at FLOOSS, the regulatory framework in Bahrain has played a great role in their success. “We’re very grateful for the support we received from the Central Bank of Bahrain and Bahrain EDB,” he said.

“At FLOOSS, our aim is to make the digital lending process as seamless as possible. Many people need support and fast, we are that innovation in an APP. Flooss provides digital loans without the hassle of paperwork & long processes. Your loan application can be done anytime & anywhere.” he added.

Commenting on the launch of FLOOSS lending platform, Dalal Buhejji, Executive Director of Business Development for Financial Services at the Bahrain EDB, said: “Fintech companies like FLOOSS are important for the development of a robust digital infrastructure in Bahrain, which is what we as the EDB continue to focus on as part of Bahrain’s financial services strategy, in line with the Economic Recovery Plan.”

“The launch of their innovative lending service in Bahrain is another case study to show how forward-thinking regulations can enhance the Kingdom’s business environment and create an innovative and supportive ecosystem, which enables businesses to thrive,” she added.

Under Bahrain’s Economic Recovery Plan, the Financial Services Sector Strategy (2022 – 2026) aims to create job opportunities, strengthen legislation and regulatory policies, and develop the fintech subsector.