Prime Highlight:
- SBIC and Mumtalakat signed a new agreement to deepen investment cooperation in Bahrain.
- The deal focuses on launching a joint investment program to support economic growth in both countries.
Key Facts:
- Investments will target high-growth companies and new projects across sectors like tech, finance, logistics, and real estate.
- SBIC, founded in 2022 with an office in Manama, aligns with PIF’s regional strategy while supporting Mumtalakat’s diversification goals.
Background
The Saudi Bahraini Investment Co., a firm owned by Saudi Arabia’s Public Investment Fund, has signed a new agreement with Mumtalakat, Bahrain’s sovereign wealth fund, to strengthen investment cooperation and create new opportunities across the Bahraini market. The agreement was announced in a press statement and is subject to completing due diligence and meeting other requirements.
This deal builds on the memorandum of understanding that PIF and Mumtalakat signed in March 2024 to increase their cooperation. The new agreement aims to create a joint investment program focused on projects that boost economic growth and meet the growing demand for goods and services in both Saudi Arabia and Bahrain.
According to the statement, the program will invest in existing companies with strong growth potential and help launch new projects in several strategic sectors. These include technology, media and telecommunications, financial services, education, logistics, advanced construction materials, manufacturing, infrastructure, aerospace services, and real estate.
SBIC, established in 2022 as part of PIF’s wider regional strategy, already operates an office in Manama to support private-sector expansion across both markets. The company aims to identify long-term opportunities that deliver sustainable returns and create real economic impact in Saudi Arabia and Bahrain.
The agreement supports PIF’s wider goal of driving economic change in Saudi Arabia and helping regional and global economic growth. For Mumtalakat, the partnership shows its ongoing work to diversify the economy, strengthen local industries, and create jobs.
Saudi Arabia and Bahrain are now working on the second phase of their industrial integration plan, which started in June. In this phase, they aim to increase trade between the two countries, attract new industrial investments, and improve cooperation on cross-border supply chains.
