Saudi Arabia earmarks $5b investment fund for Bahrain

Dubai: Saudi Arabia has allocated a $5billion investment fund for Bahrain, Khalid Al Falih, Saudi Minister of Investment, said.

The Saudi investment will be made available in various Saudi and Bahraini private economic sectors. "There will also be joint platforms in Bahrain to offer investment opportunities that are economically feasible for both countries", Al Falih said as he was speaking at the Saudi-Bahraini Coordination Council’s third meeting in Manama. The two sides also highlighted efforts to accelerate the work on the Saudi – Bahrain parallel bridge.

Al Falih announced the establishment of the Saudi-Bahraini Urban Planning Council, and the organising of an annual Saudi-Bahraini forum, with a special portal for Bahraini investors as a priority.

“The talks also figured mainly on the proposed parallel bridge linking the two countries and the mechanism for accelerating the pace of work to complete this project, which also includes a railway link between the two kingdoms,” he said.

Al Falih said that 13 initiatives were discussed at the council’s meeting. The activation of tourism integration between the two countries was also among topics discussed during the meeting.

Al Falih stressed the importance of joint investment projects in supporting economic growth in the two countries and said that Saudi Arabia is working on many initiatives to achieve economic integration between the two countries in line with the directives of Crown Prince Mohammed bin Salman.