The Public Investment Fund (PIF) and Mumtalakat Holding Company, the sovereign wealth fund of the Kingdom of Bahrain, today announced the signing of a memorandum of understanding (MoU). The agreement aims to expand cooperation between the two parties and enable new and promising investment opportunities in the Kingdom of Bahrain.
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The MoU provides multiple benefits to PIF and its portfolio companies, by providing investment opportunities aimed at enhancing PIF’s investments in the Kingdom of Bahrain. It also allows for the creation of additional opportunities for the private sector in both countries.
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His Excellency Shaikh Abdulla bin Khalifa Al Khalifa, CEO of Bahrain Mumtalakat Holding Company, said: “We are pleased to cooperate with PIF. This cooperation is an extension of the strong relations that bring the two kingdoms together. The memorandum signed today aims to enhance cooperation between Mumtalakat and PIF by establishing strategic partnerships and stimulating partnership opportunities for the private sector to support the diversification of the economy in the two brotherly countries. This is also in line with Mumtalakat’s efforts to invest in promising economic sectors, provide quality job opportunities, continue to contribute to the national economy, and work towards achieving the goals of Bahrain Vision 2030.”
Through this agreement, The Public Investment Fund seeks to increase its investments in multiple targeted sectors in the Kingdom of Bahrain, while Mumtalakat aims to explore attractive investment opportunities for cooperation and partnership with PIF.
The MoU follows the establishment of the Saudi-Bahraini Investment Company – a The Public Investment Fund subsidiary – which aims to invest up to $5 billion in multiple promising sectors in the Kingdom of Bahrain. The company has recently inaugurated its office, in Manama, to expand its range of investment activities.
About PIF
PIF is one of the largest and most impactful sovereign wealth funds in the world. It plays a leading role in advancing Saudi Arabia’s economic transformation and diversification, as well as contributing to shaping the future of the global economy.
