PIF, Mumtalakat sign MoU to promote strategic sector investments in Bahrain

The signing of the agreement

The Public Investment Fund (PIF) and Mumtalakat Holding Co., Bahrain’s sovereign wealth fund, announced today, March 5, signing a memorandum of understanding (MoU). The agreement aims to expand cooperation between the two parties and enable new and promising investment opportunities in Bahrain.

The MoU provides multiple benefits to PIF and its portfolio companies, by providing investment opportunities aimed at enhancing PIF’s investments in Bahrain. It also allows for the creation of additional opportunities for both countries’ private sectors, the PIF said in an emailed statement to Argaam.

PIF aims to enhance collaboration and investment opportunities in various sectors in Bahrain, while Mumtalakat seeks to explore attractive investment opportunities to enhance collaboration and partnership with the Saudi sovereign wealth fund.

Yazeed Al-Humied, Deputy Governor and Head of MENA Investments at PIF, said, “The MoU with Bahrain’s Mumtalakat is an important step that aims to contribute to enhancing collaboration and investment opportunities in various sectors in Bahrain.”

The MoU also supports PIF’s objectives of building long-term strategic regional partnerships that bring added value to local economies and create more partnership opportunities for the private sector. It also enables the achievement of sustainable returns that further contribute to maximizing PIF’s assets and diversifying the local economy in line with the objectives of Saudi Vision 2030.

In May 2023, PIF completed the establishment of Saudi-Bahraini Investments Co., with capital of about SAR 18 billion ($5 billion), Argaam earlier reported.