Notice: Trying to get property 'display_name' of non-object in /home/moneypass88/public_html/wp-content/plugins/wordpress-seo-premium/frontend/schema/class-schema-person.php on line 152

Notice: Trying to get property 'user_email' of non-object in /home/moneypass88/public_html/wp-content/plugins/wordpress-seo-premium/frontend/schema/class-schema-person.php on line 230

Notice: Trying to get property 'display_name' of non-object in /home/moneypass88/public_html/wp-content/plugins/wordpress-seo-premium/frontend/schema/class-schema-person.php on line 236
EDITION
  • English
  • 中文
  • Bahasa
  • eCommerce
Wednesday, April 14, 2021
uLearnMoney Subscription Events
No Result
View All Result
Money Compass

Media and partner organizations:

cmc bmc ulearnmoney mylife mcm
  • HOME
  • NEWS
    • Global Market News
    • Local Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE
Subscription
Newsletter
Money Compass
  • HOME
  • NEWS
    • Global Market News
    • Local Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE
No Result
View All Result
中文 Bahasa eCommerce
Money Compass

uLearnMONEY


Tencent Cloud Deploys its First MENA Region Internet Data Centre Hub in Bahrain

by
March 1, 2021
in PR Newswire
0
Share on FacebookShare on Twitter
  • Middle East cloud market expected to reach USD 4.5 billion by 2024, highlighting the growing opportunity in the region
  • Tencent Cloud will capitalise on Bahrain’s position as a regional cloud services hub

HONG KONG, March 1, 2021 /PRNewswire/ — Tencent Cloud, the cloud business of Tencent, today announced its collaboration with the Bahrain Economic Development Board (EDB) — the Kingdom of Bahrain’s Investment promotion agency. The two parties signed a Memorandum of Understanding (MoU), with the aim to drive the Kingdom of Bahrain’s Internet Data Centre (IDC) development and support its rapid emergence as the Middle East and North Africa (MENA) region’s hub for the cloud and IDC sectors. The MoU signing also marks a significant milestone for Tencent Cloud as it deploys its first public cloud infrastructure in the MENA region.

According to research by MarketsandMarkets, the Middle East’s cloud market is expected to reach USD 4.5 billion by 2024, with a CAGR of 17.5 percent over the same period, highlighting the growing opportunity in this region.

The MoU between Tencent Cloud and the Bahrain EDB will allow for substantial opportunities to boost the local digital economy, empowering local organisations to expedite their digital transformation journey. It will also allow Tencent Cloud to leverage on Bahrain’s regional position, and the EDB’s connectivity with local and regional stakeholders, including Bahrain’s sovereign wealth fund, Mumtalakat.

The terms of the MoU include:

  • Tencent Cloud’s first IDC in Bahrain and MENA: Tencent Cloud will launch a brand-new IDC in Bahrain, which will go live by the end of 2021.
  • Promoting the deployment of Tencent Cloud: Bahrain EDB, together with public and private stakeholders will encourage the continued adoption of cloud services to further the digital transformation agenda. Additionally, support will be offered to partner companies to leverage cloud services in collaboration with local stakeholders such as Tamkeen.
  • Local talent development: Tencent Cloud will explore and set up training initiatives jointly with the local government in universities and educational institutions across the Kingdom to allow for further knowledge transfer and qualified digital technology talents.

H.E. Kamal bin Ahmed Mohammed, Bahrain’s Minister of Transportation and Telecommunications, said, "This is an important milestone in Bahrain’s journey to become the MENA region’s cloud and data centre hub and I commend the EDB for their ceaseless efforts in developing the partnership with Tencent and ensuring that Bahrain is a favored destination for investment. Tencent joins leading global cloud giants in setting up in Bahrain which will drive massive growth in data traffic towards MENA. Moreover, the launch of the new data centre stands to create a clustering effect as other global providers turn their attention to the increasingly attractive region, with Bahrain positioned as the destination of choice with proactive initiatives such as the Government’s ‘Cloud-First’ policy and nationwide 5G."

Poshu Yeung, Senior Vice President, Tencent Cloud International, said, "While the local government in Bahrain has been making significant efforts to grow the local IDC industry, Tencent Cloud is excited to collaborate with Bahrain EDB as part of our ongoing efforts to ramp up the global IDC landscape. We will launch all necessary steps to set up a brand-new IDC in Bahrain to provide better coverage all over the Middle East and North African regions along the Belt and Road, fully supporting Bahrain’s ‘Cloud-First’ strategy."

H.E. Khalid Humaidan, Chief Executive, Bahrain Economic Development Board, said, "As a global leader in technology, innovation and cloud services, the EDB is very proud to be partnering with Tencent to set up their first MENA data center hub in Bahrain. We are confident that Tencent will be able to leverage on the Kingdom’s regional connectivity, local talent, and business friendly environment to expand their services and reach clients across the region."

Raed Fakhri, Managing Director – Investments, Mumtalakat, added, "Innovative technologies, including cloud services and other content driven services, are an area that Mumtalakat is keen to explore and support as Bahrain progresses with its ‘Cloud First’ policy. As one of the first organisations in the Kingdom to achieve full cloud migration we are excited to witness this milestone that will only further enhance Bahrain’s diversification strategy."

In 2017, Bahrain introduced the region’s first nationwide "Cloud-First" policy to enhance government information and communication technologies, driving the adoption of cloud across state entities and reducing IT costs by up to 90%.

Operating in 27 regions and 60 availability zones worldwide, Tencent Cloud is a secure, reliable and high-performance public cloud service provider that integrates Tencent’s infrastructure-building capabilities with the advantages of its massive user platform and ecosystem. By harnessing Bahrain’s track record of agile and forward-thinking data regulation, as well as its strategic location within the region, Tencent Cloud will enhance its rich array of global services to both the public and private sectors in the region.

Tencent Cloud Deploys its First MENA Region Internet Data Centre Hub in Bahrain
Tencent Cloud Deploys its First MENA Region Internet Data Centre Hub in Bahrain

About Tencent Cloud

Tencent Cloud is Tencent’s cloud services brand, providing industry-leading cloud products and services to organizations and enterprises across the world. Leveraging its robust data center infrastructures around the world, Tencent integrates cloud computing, big data analytics, AI, Internet of Things, security and other advanced technologies with smart enterprise scenarios. At the same time, we provide a holistic smart enterprise solution for sectors including finance, education, healthcare, retail, industry, transport, energy and radio & television.

ShareTweetShareSendSend
Previous Post

EPF: 2021 dividend depends on market performance, vaccine rollout, immunity

Next Post

Global economies to remain uneven this year — Moody's

Related Posts

PR Newswire

InvestHK launches worldwide StartmeupHK Salons event programme to support annual StartmeupHK Festival

14 Apr 2021
PR Newswire

Kairali TV News Picks TVU Again in Expanding Its Live Broadcast Capabilities

14 Apr 2021
PR Newswire

Edtech leader upGrad & AR pioneer EyeWay Vision partner to create one-of-a-kind AR learning experience

14 Apr 2021

Discussion about this post

Like Us On Facebook

Facebook Pagelike Widget

MOST POPULAR

  • market overview US

    How to Start Trading on the Malaysian Stock Market

    5 shares
    Share 5 Tweet 0
  • Online food delivery market to see robust growth over next 4 years

    0 shares
    Share 0 Tweet 0
  • Zurich encourages disciplined saving for retirement with new Takaful ProInvest

    0 shares
    Share 0 Tweet 0
  • SC reprimands Remitano for operating a digital asset exchange in Malaysia without authorisation

    0 shares
    Share 0 Tweet 0
  • ‘Tealive Breakthrough Moments’ Campaign Wins Again

    78 shares
    Share 78 Tweet 0

MEMBERSHIP SUBSCRIPTION

Subscribe Now

Sign Up for Our Free Newsletters

Stay up-to-date with the latest personal wealth-related articles, breaking financial market news, and more.

loader

Follow us on Social Media

News
Special Feature
Compass
Money Tube
Smart Lifestyle
Corporate Profile
Advertise
Subscriptions
Career
Contact Us
eLearning
Events
Privacy Policy
Terms of Use
Strategic Partners

Copyright © . Money Compass. All Rights Reserved.

Design and Development by Ant Internet Sdn Bhd

No Result
View All Result
  • HOME
  • NEWS
    • Global Market News
    • Local Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE

© 2020 Money Compass

loader

Career