The two entities signed a Memorandum of Understanding (MoU) to initiate a new process that will see Tencent helping the Kingdom to establish itself as a regional hub for the cloud and Internet Data Centre (IDC) sectors.
The partnership comes at a near-perfect time as the Middle East’s cloud computing market continues to grow significantly. In fact, according to recent research by MarketsandMarkets, the total valuation of the regional cloud market could climb all the way up to $4.5 billion by 2024.
Interestingly, the MoU also marks a significant step forward in Tencent Cloud’s journey as the platform deploys its first public cloud infrastructure in the region.
As per the terms of the MoU, Tencent Cloud will launch its first IDC in the region right here in Bahrain by the end of 2021. The EDB, along with its partners from the public and private sectors, will continue pushing for the adoption of cloud services. Additionally, Tencent will also be expected to explore and set up training initiatives to groom young talents for joining and prospering in the cloud industry.
Speaking on the new partnership, H.E. Khalid Humaidan, Chief Executive, Bahrain Economic Development Board, noted, “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.”