Bahrain is witnessing a surge in online entrepreneurs and e-commerce platforms, according to a top official.
Leading the nation’s move towards a digital economy are portals that offer users a wide range of options from buying groceries, beauty products, electronics to making purchases of niche products at the click of a button.
Industry, Commerce and Tourism Ministry information systems director Maram Al Mahmeed said over the years there has been an increase in the number of e-commerce business registrations.
“The trends for the digital economy are encouraging as we see a growth,” she told the GDN yesterday.
“We do not have exact numbers, but rough estimates show there are more than 500 businesses registered (commercial registrations) under Internet activities.”
The CR registration online portal Sijilat has made it easy for entrepreneurs to complete the process in a matter of seconds, she explained.
“It takes a couple of seconds for the e-commerce company to be set up, after paying the fees.”
She was speaking to the GDN on the sidelines of the Bahrain eCommerce Conference held under the theme ‘Build Your Online Business’.
The event was held at the Gulf Hotel Bahrain under the patronage of Industry, Commerce and Tourism Minister Zayed Alzayani.
The annual event of the Bahrain eCommerce Academy was attended by startup owners and young minds, to discuss the recent trends in digital economy.
“E-commerce in the Middle East is set to be worth $48 billion by 2022 with 16.4 per cent growth in the next few years,” said Thinksmart for Development and Training chief executive Ahmed Alhujairy.
“We need to think about the future and the digital trends or else many businesses will cease to exist.
“For example, we hear about the revival of the old suq facing competition from shopping malls, now these malls are facing competition from e-commerce.”
He said businesses need to realise, invest and train to be a part of the digital transformation.
“Ever since the Bahrain eCommerce Academy was launched in 2018 it has helped train over 175 entrepreneurs in e-commerce and set up online businesses.”
In his opening remarks ministry assistant under-secretary of control and resources Abdulaziz Alashraaf said a comprehensive plan was in place to ensure full readiness to deal with the requirements of the digital economy, through training and investment.
Attending yesterday’s event was BabyGulf founder Basel Qabouq, a Jordanian, who along with his Bahraini partner Loay Abdul’al launched the startup in 2018.
“We deliver Nappy diapers to online customers across Bahrain,” said Mr Qabouq.
“There are a lot of new dads who don’t want to go the supermarket to buy diapers, and instead book in bulk through our website.
“Our business is growing fast and we plan to expand to the UAE and Saudi markets soon.”
Another start-up owner who was honoured yesterday was Hind Abdulla who started Occasionallygifts.com, along with her sister.
“We sell customised gift boxes for different occasions and plan to introduce more products,” said Ms Abdulla.
Independent US economic think-tank, Milken Institute, said last month that Bahrain is poised to become a major hub for technology, innovation and finance.
It said since its launch in 2018 the Bahrain FinTech Bay has attracted 30 companies, out of a target of 50 to 60.
Furthermore, the recent emphasis on startups and technology has also paid off especially with the creation of $100 million Al Waha Funds of Funds to provide funding access to Bahrain’s startup industry.
Source: https://www.zawya.com/mena/en/business/story/Bahrain_sees_surge_in_online_business-SNG_166385866/