BAHRAIN. Boston Analytics, a global research and analytics company, announced at an event hosted by the Bahrain Association of Banks (BAB) that it is to open its first Middle Eastern office in Bahrain as it looks to expand into the region.
Making the announcement, the company cited Bahrain's availability of qualified and motivated workforce as one of the reasons behind its decision.
The company’s Bahrain office will service the GCC market and will have a particular focus on consumer goods and services, financial services, public sector (education and healthcare), manufacturing and selected segments of infrastructure, including clean technology, telecoms and IT.
In announcing the move, Boston Analytics added that it will be working with government agencies, academic institutions and industry associations, to identify and train Bahrainis to serve the local market as well as the wider GCC.
The Bahraini workforce is recognised as one of the most highly skilled in the Gulf, and this will be reflected in the workforce of the new Boston Analytics office, which is due to open in December. It is expected that the office will ultimately employ 200 researchers, of which the majority will be Bahraini graduates.
Kamal bin Ahmed, Minister of Transportation and Acting Chief Executive of the Bahrain Economic Development Board (EDB), said: “We are delighted that Boston Analytics are planning to set up in Bahrain.
With the company planning to service clients in the whole of the GCC, the decision to establish a base in the Kingdom is a positive endorsement of the diversity and strength of the Bahraini economy. We are particularly pleased that Boston Analytics feel that Bahrain will be able to provide their business with the skilled local labour it needs to meet demand.”
Dr. Inder Thukral, CEO of Boston Analytics, said: “To expand our business footprint in the GCC, Boston Analytics will be setting up a knowledge centre in Bahrain to provide business research and analytics services to clients in Bahrain and other parts of the GCC. Bahrain was selected for the availability of qualified and motivated workforce and its business friendly environment.”
Mr. Rajeev Vaid, COO of Boston Analytics, added: “A critical element of providing such knowledge services is the availability of talent. Boston Analytics is working with government agencies, academic institutions and industry associations, such as BAB, to identify and train people to serve the local market as well as the wider GCC market.”
The EDB – which played a pivotal role in Boston Analytics’ setting up process – is a dynamic public agency with an overall responsibility for attracting inward investment into Bahrain, and is focusing on target economic sectors in which the Kingdom offers significant strengths.
The EDB played an instrumental role in attracting over US$300 million of investment from international businesses across a wide range of sectors in 2011.
About The Bahrain Economic Development Board (EDB)
The Bahrain Economic Development Board (EDB) is a dynamic public agency with an overall responsibility for attracting inward investment into Bahrain, and is focusing on target economic sectors in which the Kingdom offers significant strengths.
Key areas of focus include manufacturing, ICT, and logistics and transport services as well as other sub-sectors. The Financial Services sector in Bahrain is particularly strong and the EDB supports in the continuing growth of the banking industry and key sub-sectors, including Islamic Finance, Asset Management, Insurance and Re-Insurance.
About Boston Analytics
Boston Analytics is a US based business analytics and decision management firm. It has presence in the US, UK, UAE, Singapore, China and India. The firm provides advisory and outcome based services to global clients on their emerging market issues and business process optimization using data analytics.
About the Bahrain Association of Banks
Speaking for 85 members, the Bahrain Association of Banks (BAB) provides an open forum where banks can come together to collectively discuss and solve their shared problems. BAB is also actively engaged in promoting banking conferences, exhibitions and seminars that bring overseas banking delegations to Bahrain and create business opportunities for all members.
BAB publishes a quarterly magazine, The Bahrain Banker, which has established itself as the voice of Bahraini banking with an international readership. BAB also publishes a quarterly newsletter, The Gateway, and a series of handbooks on technical subjects designed to inform a non-specialist audience.
For more information on BAB visit http://www.banksbahrain.org/