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Bahrain and the UK have officially entered into a memorandum of understanding (MoU) to establish a strategic investment and collaboration partnership. The agreement paves the way for Bahrain‘s private sector, represented by prominent entities such as Mumtalakat, Investcorp, GFH Financial Group, and Osool Asset Management, to invest a substantial £1 billion ($1.27 billion) into the UK economy.
This investment is facilitated through Bahrain’s sovereign wealth fund, signalling a commitment to bolster economic ties between the two nations.
The MoU was formalised during a meeting held at 10 Downing Street, London, between His Royal Highness Prince Salman bin Hamad Al Khalifa, Bahrain’s Crown Prince and Prime Minister, and UK Prime Minister Rishi Sunak.
During this momentous occasion, the signatories from both countries came together to seal the agreement. Representing Bahrain, the MoU was signed by Shaikh Salman bin Khalifa Al Khalifa, the Minister of Finance and National Economy. From the UK’s side, the signatory was Lord Dominic Johnson, the Minister for Investment.
Highlighting the longstanding relationship between Bahrain and the UK, HRH Prince Salman underscored its solid foundations that have been established over two centuries. Emphasising Bahrain’s dedication to strengthening bilateral collaboration, Prince Salman reaffirmed the kingdom’s commitment to achieving comprehensive development goals, which are spearheaded by His Majesty King Hamad bin Isa Al Khalifa.
In recognition of the UK’s role in maintaining international security and stability, HRH Prince Salman commended the country, along with Bahrain’s allies, for their efforts in this regard. The MoU serves as a testament to the shared vision and determination of Bahrain and the UK to foster mutually beneficial cooperation in various sectors, solidifying the existing strong ties between the two kingdoms.