£1bn investment deal with Britain

Bahrain has signed a memorandum of understanding with the UK on a strategic investment and collaboration partnership.

The deal will facilitate a £1 billion investment from Bahrain’s private sector into the UK economy, through sovereign wealth fund Mumtalakat, Investcorp, GFH Financial Group, and Osool Asset Management.

This came as His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, yesterday met British Prime Minister Rishi Sunak, at 10 Downing Street, during his official visit to the UK.

The memorandum – signed by Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa and the UK’s Investment Minister Lord Dominic Johnson of Lainston CBE – also aims to support the diversification of Bahrain’s economy and boost co-operation between the two countries in clean technology, business services and manufacturing.

HRH the Crown Prince and Prime Minister highlighted the deep-rooted relationship between the two kingdoms “which is based on solid foundations that go back more than 200 years”.

He affirmed Bahrain’s steadfast commitment to strengthening bilateral collaboration in support of the kingdom’s comprehensive development goals, led by His Majesty King Hamad.

He also noted the UK’s role, alongside Bahrain’s allies, in maintaining international security and stability.

The two leaders discussed ways to enhance relations and joint regional and international issues.

Mr Sunak welcomed the agreement and said it marked ‘the next chapter in the historic and close relationship between the UK and Bahrain, which spans security, defence and trade’.

HRH the Crown Prince, Deputy Supreme Commander of the Armed Forces, and Prime Minister, also met the UK’s Secretary of State for Defence Ben Wallace.

He highlighted that His Majesty, the Supreme Commander of the Armed Forces, firmly supports strong British-Bahraini partnership.

He pointed to the strength of Bahrain’s relationship with the UK, which, he said, continues to witness wide-ranging growth in the military and defence sector.

HRH Prince Salman later attended a reception held by the Bahrain’s Embassy in the UK. He highlighted the role of Bahrain’s diplomatic missions in consolidating relations with its international allies such as Britain.

 

Source: https://www.gdnonline.com/Details/1275605/%C2%A31bn-investment-deal-with-Britain

 

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