Saudi Bahraini Investment Company And Mumtalakat Sign Agreement To Enhance Economic Growth Through Strategic Investments

The Saudi Bahraini Investment Company (SBIC), a PIF entity, has announced a new agreement with Bahrain Mumtalakat Holding Company. This deal, revealed during the fourth Saudi-Bahraini Coordination Council meeting in Manama, aims to boost investment cooperation. The agreement was co-chaired by Crown Prince Mohammed bin Salman and Bahrain's Crown Prince Salman bin Hamad Al Khalifa.

The partnership intends to create a joint investment program that will focus on economic growth and meeting the increasing demand for goods and services in both Saudi Arabia and Bahrain. This includes investing in existing businesses with potential for expansion and initiating new projects. The collaboration will cover several strategic sectors in Bahrain, such as information technology, media, telecommunications, financial services, education, logistics, advanced construction materials, manufacturing, infrastructure, aerospace services, and real estate.

This agreement aligns with SBIC’s strategy of identifying investment opportunities that generate sustainable returns while supporting development in both markets. It also reflects PIF’s dedication to driving economic transformation within Saudi Arabia and contributing to regional growth. Similarly, Mumtalakat aims to enhance economic diversification, increase local impact, and create job opportunities through this partnership.

Established in 2022 as part of PIF’s regional investment strategy, the Saudi Bahraini Investment Company has opened an office in Manama. One of its goals is to enable the private sector to expand investments across Saudi Arabia and Bahrain. This new agreement builds on a previous Memorandum of Understanding signed in March 2024 between PIF and Mumtalakat to broaden cooperation opportunities.

The joint investment program will target several key sectors within Bahrain. These include information technology, media and telecommunications, financial services, education, logistics, advanced construction materials manufacturing, infrastructure development, aerospace services, and real estate. By focusing on these areas, the partnership aims to address growing market demands while fostering economic growth.

The agreement is contingent upon fulfilling certain requirements like performing necessary due diligence. It seeks to establish long-term partnerships that support sustainable development across both markets. The collaboration underscores the commitment of both parties to drive regional economic transformation while contributing to global growth.

This initiative not only supports Mumtalakat’s efforts but also aligns with SBIC’s objectives of building long-term partnerships that yield sustainable returns. By expanding investment opportunities across strategic sectors in Bahrain and Saudi Arabia, the agreement aims to foster economic growth while addressing market demands effectively.

With inputs from SPA