China's Wonder News to set up HQ in Bahrain
COMMERCIAL NEWS
Chinese technology group WonderNews has announced plans to launch its regional headquarters in Bahrain, from where the firm will offer services to GCC clients in the e-commerce andFinTech sectors.
WonderNews was established in 2015 by Fujian Wangle Technology Company, a Chinese firm committed to creating value-added solutions and applications on content platforms, with an emphasis on e-commerce and games, for its 100 million users globally.
The company is headquartered in Fuzhou, China and has offices in the UAE, Morocco, Egypt and Saudi Arabia.
As part of its regional expansion strategy, WonderNews would be investing $50 million and offer 500 employment opportunities in the kingdom over the next three years.
This was announced by WonderNews CEO OuZhenxing at a press conference in presence of Shaikh Hisham bin Abdul Rahman Al Khalifa, Governor of Capital Governorate, and John Kilmartin – Executive Director ICT of the Economic Development Board.
Speaking at the launch, Shaikh Hisham said: "It is one of the major results of the MoU standing that was signed between the Capital Governorate and the Shenzhen City in China in September 2016."
"This event also coincides with the start of diplomatic relations between China and the Kingdom of Bahrain based on the distinguished ties that link the two countries and the common vision in various spheres. This will ensure the continuation of permanent and common relations that are based on strong and solid foundations," he stated.
Shiakh Hisham said: "We are excited to welcome WonderNews into the Kingdom and we do value their investment which will create a new cluster within the economy of the Kingdom."
WonderNews CEO OuZhenxing pointed out that the company has over 10 years of experience in providing internet products in the Middle East.
“We have a highly-qualified research and development team which, working with advanced technology, has successfully developed and introduced numerous applications to over 100 million users,” he added.
"Our strategic cooperation with EDB has been indispensable to seamlessly establishing a presence in Bahrain and using the Kingdom as a regional hub for the Middle East, stated the top Chinese official.
“They have also provided valuable assistance in tapping into the local talent pool toi dentify qualified candidates to fill various positions across the organisation,” he added.
John Kilmartin, the executive director of ICT at the EDB, said the decision to establish its regional HQ in Bahrain was a testament to the kingdom’s increasingly sophisticated tech ecosystem and growing status as an innovation hub.
The Kingdom’s legal framework, low-cost operating environment and exceptional talent pool offer an attractive landscapeto investors who are looking to use Bahrain as a launchpad to the GCC and Mena region.
EDB is committed to making Bahrain the most investor-friendly location in the region – exemplifying the Team Bahrain philosophy of working across the public and private sectors to help business happen," he added.-TradeArabia News Service
