Saudi Bahraini Investment and Mumtalakat sign an agreement to enhance cooperation and investment
The company announced Saudi Bahraini Investment Company (SBIC), wholly owned by the Public Investment Fund, and Mumtalakat Bahrain Holding (Mumtalakat), the sovereign wealth fund of the Kingdom of Bahrain, signed an agreement with the aim of expanding investment cooperation opportunities between the two sides, and enabling new investment opportunities in Bahrain.
This came on the sidelines of the fourth meeting of the Saudi-Bahraini Coordination Council, which was held on Wednesday under the joint chairmanship of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, and His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister of the Kingdom of Bahrain.
The signed agreement is subject to fulfilling a set of requirements, including the completion of the necessary feasibility studies.
The agreement aims to To establish a joint investment program that focuses on opportunities that contribute to enhancing economic growth and meeting the growing demand for goods and services in both the Saudi and Bahraini markets, including investment in existing companies with high expansion potential, in addition to launching new projects.
Strategic sectors in Bahrain
Joint investment opportunities include a number of strategic sectors in the Kingdom of Bahrain, including information technology, media and communications, financial services, education, logistics services, advanced building materials, industry, infrastructure, and services. Air, and the real estate sector.
The agreement is consistent with the strategy of the Saudi Bahraini Investment Company, which aims to explore opportunities and build long-term strategic economic partnerships with the aim of contributing to achieving sustainable returns and creating a developmental impact in both the Bahraini and Saudi markets, in line with the investment strategy of the Public Investment Fund, which aims to drive economic transformation in the Kingdom, and contribute to shaping the future features of the regional and global economy.
It is also in line with Mumtalakat’s continuous efforts towards building and strengthening partnerships to achieve Economic diversification, enhancing local impact and providing job opportunities.
Enabling the private sector to expand investment
The Saudi Bahraini Investment Company was established in 2022, as part of the regional investment strategy of the Public Investment Fund, and opened an office in the Bahraini capital, Manama.
The company works among its goals to enable the private sector to expand investment in both markets, as the signing of this agreement is an extension of the signing of the Public Investment Fund and Bahrain Mumtalakat Holding Company a memorandum of understanding in March In 2024, to expand cooperation opportunities between the two sides.
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