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Bahrain’s Golden License Attracts USD 2.4 Billion in Investment Contributing to Economic Diversification & Growth

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  • Following the first five announced in 2023, the latest four Golden Licenses awarded span across diversified sectors namely, financial services, manufacturing, ICT, and tourism.
  • Report from Bahrain Economic Development Board (Bahrain EDB)

MANAMA, Bahrain, March 7, 2024 /PRNewswire/ — The island nation of Bahrain reported a total of USD 2.4 billion in investment stemming from 9 major projects, which are set to generate 3,000 employment opportunities following the introduction of its Golden License in April 2023. The initiative, which delivers white-glove treatment and first-priority allocation on key project milestones such as land allocation, aims to maintain Bahrain’s demonstrated ability to attract impactful businesses across industries to contribute to its positive trajectory of sustained economic growth.

The newly awarded large-scale projects span across diverse sectors, including Bahrain Titanium, the first facility of its kind in the region set to be established by Switzerland-based Interlink Metals & Chemicals, the construction of the first greenfield head office of National Bank of Kuwait (NBK) outside of Kuwait, the installation of a data centre facility and regional submarine cable by Bahrain-born technology company Beyon, and finally, the vibrant urban waterfront development Bahrain Marina. 

H.E. Noor bint Ali Alkhulaif, Minister of Sustainable Development and Chief Executive of Bahrain Economic Development Board (Bahrain EDB), said, “Bahrain has proven itself as a trusted destination for local and global companies to set up or expand their operations owing to its unique value proposition. The Golden License is the latest of several initiatives introduced that reflect a vested commitment to living up to our pledge of being business friendly, ensuring a seamless journey across every stage of progress, and ultimately acting as partners in building a solid foundation for long-term success.”

“In alignment with Bahrain’s national vision, the licenses awarded span across priority sectors, ushering into each industry a new wave of employment opportunities, innovation, and niche expertise. We are excited to witness the impact of these collective investments in contributing towards Bahrain’s ongoing journey to economic diversification and prosperity,” H.E. Noor bint Ali Alkhulaif, added.

H.E. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, said, “Ultimately, Bahrain has always been known for its ease of doing business, progressive legislation, and the agility of Team Bahrain. The Golden Licenses awarded across 2023 and 2024 are a healthy mix of home-grown and international projects, creating new prospects for other companies from around the world to set up in Bahrain, thereby further solidifying trade ties with key markets around the world.”

From 2002 to 2022, Bahrain’s nominal GDP grew from USD 9.6 billion to USD 44.4 billion, the equivalent of an average annual rate of 8%, surpassing the global rate of 5.5% (2002). Bahrain also diversified its economic sectors, the non-oil sector accounted for 83.6% of real GDP in Q3 of 2023, where the financial services sector overtook oil as the largest contributor to real GDP, standing at 18.1% in Q3 of 2023.

View original content:https://www.prnewswire.co.uk/news-releases/bahrains-golden-license-attracts-usd-2-4-billion-in-investment-contributing-to-economic-diversification–growth-302083005.html

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Fintech PR

Healthcare leaders gather at House of Commons to discuss productivity-boosting tech with MyStaff app

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LONDON, Nov. 15, 2024 /PRNewswire/ — Healthcare leaders from 16 NHS trusts gathered at the House of Commons this week to see how Mid and South Essex NHS Foundation Trust is using a groundbreaking new app that transforms staff access to information vital to their patients’ care.

The MyStaff app uses AI and automation to simplify the management of critical policies and procedures, reducing the time staff spend searching for information from almost 10 minutes to under 30 seconds. Over 12,000 of the Trust’s staff have signed up, and around 1,000 are using the app daily.

With £2bn pledged to help digitise the NHS and bring down waiting lists, such time-saving tech is high on healthcare’s agenda. Trust Chief Executive Matthew Hopkins introduced the session, which was hosted by David Burton-Sampson, MP for Southend West and Leigh, and saw technology strategists and users share their experiences of digitising vital healthcare operations.

Matthew said: “Our Trust is working to make the best use of digital technologies wherever this can help staff to provide the best possible care to our patients. MyStaff app is a versatile and easy-to-use tool that improves our governance processes and makes it easy for staff to access the vital clinical information they need when treating patients.”

The Trust developed MyStaff app with digital innovators Diligram, who have created a digital governance solution that helps ensure staff use the latest policies and guidance when delivering patient care. Document compliance rates have grown from 60% to 98%, whilst projections indicate the app could release 55,000 hours’ worth of staff capacity over 3 years, worth almost £4m in staff costs and giving staff more time on patient-facing care.

Diligram CEO Leslie Golding said: “We have worked closely with the Trust on developing groundbreaking technology that supports our healthcare heroes by simplifying access to essential information. We’re proud to be part of this brilliant example of positive digital change.”

Editor’s notes

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  • Contact: Rob Benson, 07815098560, [email protected] 
  • Further images, interviews, site visits available

About MyStaff app

The MyStaff app from digital transformation company Diligram is time-saving tech that offers a mobile-first digital corporate governance solution for healthcare providers.

Web: mystaffapp.io 

About Mid and South Essex NHS Foundation Trust

MSE is one of the largest Trusts in the country, serving around 1.2million people. Our values are about delivering excellent, compassionate and respectful care.

Web: mse.nhs.uk 

Photo – https://mma.prnewswire.com/media/2558941/MSE_CEO_Matthew_Hopkins_MyStaff_app.jpg

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ThunderSoft Partners with HERE Technologies to Enhance Intelligent Navigation Solutions

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BEIJING, Nov. 15, 2024 /PRNewswire/ — On November 14, 2024, ThunderSoft (Stock Code: 300496), a world leading OS and intelligent device products and technology provider, and HERE Technologies, the leading location data and technology platform, announced a strategic partnership to enhance collaboration in intelligent navigation and high-definition maps. The collaboration aims to support the efficient development of navigation systems, contributing to a more connected and intelligent mobility ecosystem.

The agreement will see both companies maximize their technical strengths and platform resources for comprehensive, multifaceted cooperation. ThunderSoft’s Aqua Drive OS will integrate HERE location data and services, including HERE SDK, HD Map and autonomous driving solutions. These AI-powered elements, create a foundation for developers worldwide to build intelligent system platforms. Additionally, the partnership will deliver tailored intelligent navigation solutions for international markets, addressing the diverse requirements of automotive manufacturers and consumers.

The companies will also collaborate to develop immersive and interactive 3D high-definition mapping solutions by combining HERE’s map data with ThunderSoft’s Kanzi Map engine, establishing a new benchmark in intelligent driving and navigation.

Deon Newman, Senior Vice President and General Manager of HERE Technologies said, “This strategic partnership with ThunderSoft represents a transformative step in delivering on the potential of AI and software-defined vehicles. By uniting our best-in-class location technology with ThunderSoft’s advanced system capabilities, we will together deliver greater insight and intelligence to every journey, empowering our clients to create richer, more personalized experiences for their customers worldwide.”

Hengshang Chang, Executive President and President of SmartVehicle Business Group of ThunderSoft, highlighted the strategic importance of the collaboration, “Our collaboration with HERE holds immense significance. By integrating HERE’s map data and location platform capabilities with ThunderSoft’s pioneering vehicle OS technology, we aim to develop more competitive, globally-oriented intelligent navigation systems for the automotive industry, enabling automakers to achieve accelerated growth.”

About HERE Technologies

HERE has been a pioneer in mapping and location technology for almost 40 years. Today, HERE’s location platform is recognized as the most complete in the industry, powering location-based products, services and custom maps for organizations and enterprises across the globe. Find out how HERE is moving the world forward at here.com.

About ThunderSoft

ThunderSoft, a well-known intelligent operating system products and technologies provider, has been continuously accumulating and innovating in the operating system field, with its business expanding gradually from smart phone to smart vehicle, AIOT and smart industries. Website: https://en.thundersoft.com 

View original content:https://www.prnewswire.co.uk/news-releases/thundersoft-partners-with-here-technologies-to-enhance-intelligent-navigation-solutions-302307004.html

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Plug and Play and GIFT City Launch “IFIH,” a Global Fintech Incubator and Accelerator

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Plug and Play, a global accelerator platform and one of the most active early-stage investors globally, has announced a strategic partnership with Gujarat International Finance Tec-City (GIFT City). Through the partnership, Plug and Play will establish and run the International Fintech Innovation Hub (IFIH), GIFT City’s FinTech Incubator and Accelerator, which aims to foster research and innovation in financial technology, reinforcing GIFT City’s role as a premier global fintech hub.

GIFT City’s MD and Group CEO, Mr. Tapan Ray, said, “Our vision at GIFT City is to drive fintech innovation by creating a climate-resilient, inclusive ecosystem that empowers diverse entrepreneurs and builds workforce competitiveness in emerging technologies. With the support of prominent partners in fintech education and incubation, we are committed to nurturing a new generation of talent that will be well-equipped to meet the needs of an evolving global economy.”

Manav Narang, Head of Financial Services for Plug and Play APAC and Program Lead for the GIFT Incubator and Accelerator added, “We are thrilled to bring Plug and Play’s global expertise to GIFT City. Our vision is to create India’s largest industry-wide fintech program – a collaborative platform where banks, payments corporations, venture capital and corporate venture capital firms, accelerators, and ecosystem partners unite. Together, we aim to catalyze transformative fintech solutions and nurture fintech unicorns that will shape the future of finance in India.”

The program will support fintech startups with resources, mentorship, capital, and networking to navigate and excel globally in the dynamic fintech landscape. The first batch of startups will be unveiled in January 2025.

The post Plug and Play and GIFT City Launch “IFIH,” a Global Fintech Incubator and Accelerator appeared first on .

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