Bahrain in talks on cloud computing, FDI deals

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  • Part of economic recovery, diversification strategy
  • Aims to grow non-oil GDP by 5% this year
  • Introduced “data message” to attract cloud computing companies
  • Also in talks with sugar factories, consulting firms

DUBAI, June 23 (Reuters) – Bahrain is in advanced talks on investment deals with cloud-computing companies from the United States, China and the United Arab Emirates, an Economic Development Board executive said, as the country seeks to expand 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.

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Saudi Aramco Development Co, a subsidiary of oil giant Aramco (2222.SE), has partnered with Google…



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