Saudi Minister of Investment, Khalid Al-Falih, announced the allocation of a specialized fund for investing in Bahrain with a target of approximately $5 billion.
Al-Falih stated that this investment will be available to various economic sectors in both the Saudi and Bahraini private sectors.
The announcement was made during the third Saudi-Bahraini coordination council meeting held in Bahrain’s capital, where Al-Falih also announced the establishment of a Saudi-Bahraini urban planning council, the creation of an annual Saudi-Bahraini forum, and a priority portal for Bahraini investors.
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Additionally, the council discussed the parallel bridge project and the acceleration of its execution, which includes connecting railways between the two kingdoms.
The meeting also covered 13 initiatives, including the activation of tourism integration between the two countries. Al-Falih confirmed the signing of two memoranda of understanding between the National Waste Management Center in Saudi Arabia and Bahrain’s Supreme Council for Environment for sustainable waste management, as well as an MoU between the Bahraini Agricultural Development Company and the Saudi authority responsible for food security.
Al-Falih highlighted the significant role that Saudi and Bahraini investment projects play in the private sector as an economic arm and an effective driver of economic growth. He emphasized the importance of continuing to enhance investment cooperation levels between the two countries to achieve shared aspirations that benefit both friendly nations and their people.
Moreover, Al-Falih mentioned that Saudi Arabia is working on several initiatives to achieve economic integration between the two countries, following the directives of Crown Prince Mohammed bin Salman bin Abdulaziz, President of the Council of Ministers.
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