Manama, Dec. 4 (BNA): The Saudi Bahraini Investment Company (SBIC), a PIF company, announced the signing of an agreement with Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of the Kingdom of Bahrain, aimed at expanding opportunities of investment cooperation between the two sides and unlocking new investment opportunities in Bahrain, subject to satisfying certain requirements, including performing the necessary due diligence.

The agreement seeks to establish a joint investment programme, focused on opportunities that contribute to economic growth and address the growing demand for goods and services in both the Saudi and Bahraini markets. This includes investing in existing companies with strong expansion potential and launching new projects.

The joint investment opportunities will span several strategic sectors in the Kingdom, including technology, media and telecommunications, financial services, education, logistics, advanced construction materials, manufacturing, infrastructure, aerospace services and real estate.

The agreement supports the Saudi Bahraini Investment Company’s strategy of identifying opportunities and developing long-term strategic economic partnerships to achieve sustainable returns and generate developmental impact in both the Bahraini and Saudi markets. It aligns with the Public Investment Fund’s (PIF) strategy to drive economic transformation in Saudi Arabia and contribute to shaping the regional and global economy. The agreement also reflects Mumtalakat’s ongoing efforts to foster partnerships that promote economic diversification, enhance local impact, and create employment opportunities.

The Saudi Bahraini Investment Company was established in 2022 as part of PIF’s regional investment strategy. It has opened an office in Manama, and among its objectives is enabling the private sector to expand its investments across both markets.

This agreement follows a previous MoU signed in March 2024 between PIF and Mumtalakat, which aimed to broaden cooperation opportunities between the two sides.

H.K, A.J