Bahrain in talks on cloud computing, FDI deals By Reuters



By Yousef Saba

DUBAI (Reuters) – Bahrain is in advanced talks on investment deals with cloud-computing companies from the United States, China and the United Arab Emirates, a senior official at the Economic Development Board said, as the country seeks to scale up its oil-based economy to diversify.

Cloud computing and foreign direct investment are key elements of Bahrain’s economic recovery program, which aims to grow gross domestic product (excluding oil) by 5% this year and includes strategic projects worth US$30 billion.

The plans come as regional economic heavyweights Saudi Arabia and the UAE are also turning to technology to diversify their oil-dependent economies.

Saudi Arabia (TADAWUL:) Development Co, a subsidiary of oil giant Aramco, has partnered with Google (NASDAQ:) Cloud to offer cloud services to customers in Saudi Arabia. The UAE is opening three Amazon (NASDAQ:) Web Services (AWS) centers this year.

Bahrain, which has hosted a large AWS center since 2018 – the first in the Middle…

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