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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