Manama: On the sidelines of the fourth meeting of the Bahraini-Saudi Coordination Council, a Memorandum of Understanding (MoU) was signed between the Bahrain Economic Development Board (Bahrain EDB) and the Ministry of Investment in Saudi Arabia. This agreement aims to encourage direct investment between the two nations and was signed by Noor bint Ali Alkhulaif, Minister of Sustainable Development and Chief Executive of the Bahrain EDB, and Khalid bin Abdulaziz Al Falih, Minister of Investment of Saudi Arabia.
According to Bahrain News Agency, the MoU is designed to promote collaboration between the two entities by sharing statistical information on direct investments and available business opportunities. It also focuses on policies, systems, laws, and regulations related to investment opportunities in both countries. Furthermore, the agreement seeks to raise awareness of these opportunities across various economic sectors of mutual interest.
The agreement supports the exchange of information regarding public-private partnership opportunities and calls for coordinated promotional activities with developers, investors, and financiers. It also includes plans to organize exhibitions, workshops, conferences, and other events aimed at expanding cooperation in direct investment. An annual Bahraini-Saudi Investment Forum will be hosted in Bahrain starting in the first half of 2026 to showcase investment opportunities in both countries.
Minister Alkhulaif emphasized the longstanding economic and investment relationship between Bahrain and Saudi Arabia. She highlighted that the MoU not only strengthens this relationship but also marks a shift towards greater public-private sector partnerships. Saudi investments in Bahrain's key economic sectors continue to play a critical role in advancing Bahrain's sustainable development.
The cumulative stock of direct investments from Saudi Arabia in 2024 reached approximately USD 10.13 billion, accounting for 21.9% of the total cumulative stocks of direct investments in Bahrain during 2024. These investments contribute to several important economic sectors, including financial services, insurance, industry, and information and communication technology.