RIYADH: The Saudi Bahraini Investment Co., owned by the Kingdom’s Public Investment Fund, has signed an agreement with Mumtalakat, Bahrain’s sovereign wealth fund, to enhance cooperation and investment in strategic sectors.
According to a press statement, the agreement aims to unlock new investment opportunities in Bahrain, subject to satisfying certain requirements, including performing the necessary due diligence.
This contract follows a previous memorandum of understanding signed in March 2024 between PIF and Mumtalakat, which aimed to broaden cooperation opportunities between the two parties.
“The agreement seeks to establish a joint investment program, focused on opportunities that contribute to economic growth and address the growing demand for goods and services in both the Saudi and Bahraini markets,” said the press statement.
It added: “This includes investing in existing companies with strong expansion potential and launching new projects.”
