UK, Bahrain sign MoU for strategic investment, collaboration

06 Jul '23

1 min read

PM Rishi Sunak hosted the Crown Prince of Bahrain. Pic: UK Prime Minister/Twitter

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Bahrain and the United Kingdom have signed an MoU for strategic investment and collaboration.
Under the MoU, the Gulf state's private sector will invest $1.3 billion in Britain.
The agreement aims at supporting the diversification of Bahrain's economy and driving greater cooperation between both sides in clean technology, business services and manufacturing.

Bahrain and the United Kingdom recently signed a memorandum of understanding (MoU) for strategic investment and collaboration. Under the MoU, the Gulf state's private sector will invest $1.3 billion in Britain, Bahraini crown prince Salman bin Hamad Al Khalifa tweeted.

The agreement aims at supporting the diversification of Bahrain’s economy and driving greater cooperation between both sides in clean technology, business services and manufacturing, an official UK government release said.

The investments will be through Bahraini sovereign wealth fund Mumtalakat, Investcorp, GFH Financial Group and Osool Asset Management, his tweet said.

“Today's Digital Economy partnership between the UK and Bahrain is the culmination of a prosperous and flourishing trading relationship worth £3.1 billion in 2022. The partnership will help ensure trade continues to be modernised and streamlined far into the future,” Dominic Johnson, UK minister of state in the department for business and trade, said in a tweet.

Prime Minister Rishi Sunak hosted the crown prince, also the prime minister of Bahrain, at Downing Street on July 3 for a bilateral meeting.

ALCHEMPro News Desk (DS)

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