Saudi Arabia plans to invest $5 billion in Bahrain

TDT | Manama                                                             

The Daily Tribune – www.newsofbahrain.com

Saudi Arabia is planning to invest about $5 billion in various economic sectors in Bahrain, revealed Saudi Minister of Investment, Khalid bin Abdulaziz Al Faleh.

This move is in response to the directives of His Royal Highness the Crown Prince and Prime Minister Prince Muhammad bin Salman bin Abdulaziz Al Saud, who has authorised the allocation of a specialised fund for investment in Bahrain.

Al Faleh also announced that Saudi Arabia is working to achieve economic integration between the two countries, particularly in the private sector. These comments were made during the 5th meeting of the joint Bahraini-Saudi Business Council, which was co-chaired by Sameer Nass, the Chairman of Bahrain Chamber, and Abdulrahman bin Saleh Al Otaishan.

Other attendees included Bahrain’s Transportation and Telecommunications Minister, Mohammed bin Thamer Al Kaabi, President of the Federation of Saudi Chambers, Hasan bin Mujeb Al Huwaizi, members of the joint council from both sides, and several officials.

During the meeting, Nass expressed his pride in the strong fraternal relationship between Bahrain and Saudi Arabia and highlighted the growing economic cooperation between the two nations.

The volume of trade between them amounted to $3.9 billion in 2022, with Bahrain’s exports to Saudi Arabia reaching $3 billion. Nass also stressed the untapped opportunities and potential for further trade and joint investments, pledging to make more efforts to boost economic ties.