Distinguished speakers and industry experts from the dynamic field of business and IT, representing both the Kingdom of Bahrain and the Kingdom of Saudi Arabia, gathered for a high-profile panel discussion. This event was hosted by the Bahrain Technology Companies Society (BTECH) and centered around the theme “ICT Leading to Economic Growth, Prosperity, and Enhanced Job Opportunities.”
At this exclusive event, the luminaries, including Mr. Isa Al-Kooheji, a distinguished member of the Society’s Board of Directors, Mr. Ahmed Al-Hujairy, an esteemed Advisor to the Society, and the visionary Mr. Kais Abdulhameed Al-Essa, Founding Partner, and CEO of Vision Ventures in the Kingdom of Saudi Arabia, collectively underscored a pivotal message. They emphasized the strategic imperative of fortifying the foothold of Bahraini ICT companies within the Saudi market.
With the Saudi market reaching an impressive scale exceeding 80 billion riyals in the year 2023, the speakers advocated for a concerted effort to expand the market share of Bahraini entities. Success in this expansive and competitive landscape, they asserted, demands diligent endeavors, including the execution of a meticulous study, the astute identification of potential opportunities and challenges, and the delivery of cutting-edge, competitive, and innovative technical products and services capable of propelling sustainable growth and enduring expansion.
The panelists emphasized that the Saudi Stock Exchange now boasts 100 listed technology companies, marking a 25% increase from the previous year. This growth underscores the commitment to supporting and empowering Saudi tech entrepreneurs through a comprehensive ecosystem which provides crucial assistance in the field of digital capabilities, access to cutting-edge technologies, financial support, and market opportunities. The aim is to enable these entrepreneurs to develop their ideas and innovations in products and services, ultimately strengthening their capacity to make significant contributions that benefit the Kingdom. This positions them to compete not only at the regional but also at the international level, given the organizational maturity of the Saudi tech market and its adeptness at embracing digital solutions and innovations.
The panelists also highlighted the technological upsurge in Saudi Arabia, coupled with its expansive global commercial network, economic assets, diverse trade tools, and robust international relations. They emphasized that these factors collectively serve as a vital platform for Bahraini companies to embark on business development and expansion. By fostering fruitful partnerships, this collaborative approach is expected to drive economic growth in Bahrain and ensure the sustainable movement of supply chains within the tech sector amid the ongoing industry transformations.
The event featured a presentation by Mr. Ali Akbar, Business Development Officer at Tamkeen, who discussed Tamkeen’s latest entrepreneur support programs. These initiatives aim to facilitate the expansion of Bahraini companies of all sizes into global markets, connecting them with investors, potential customers, buyers, and partners.
Additionally, Mr. Qays Zuhair, General Manager of WorkSmart Events Management, delivered a presentation on the diverse events and conferences organized by WorkSmart over its 16-year history. The primary objective has been to establish a bridge between leaders in Bahrain’s ICT industry and global investors. These events serve as platforms to showcase business opportunities, growth prospects, and investment potential within the technology sector.
Furthermore, BTECH extended an invitation to Bahraini technology companies, urging them to participate in the Bahraini pavilion at LEAP 2024. Positioned as the world’s largest technology event, LEAP 2024 is scheduled to take place at the Riyadh International Convention and Exhibition Center from March 4 to 7. BTECH emphasized the potential benefits for Bahraini companies, including opportunities for collaboration, funding, and overall business growth that the event presents.
