Public Investment Fund ratifies Saudi-Bahraini Investment Co. for $5bn: Al-Falih
Saudi Arabia’s Public Investment Fund has approved the establishment of the Saudi-Bahraini Investments Co. with a capital of around SR18 billion ($5 billion), according to the Saudi investment minister.
On the sidelines of the Saudi-Bahraini Coordination Committee meeting held in Manama, Khalid Al-Falih said that the location of the company’s headquarters would be announced soon.
Al-Falih also stated that the group addressed around 13 ideas, some of which have been finalized while others are still in progress.
It included the development of joint online platforms to provide investment opportunities in both the Gulf countries, according to Asharq.
During the Future Investment Initiative in October 2022, Saudi Crown Prince Mohammed bin Salman announced that the PIF intended to establish five regional companies in Bahrain, Jordan, Sudan, Iraq, and Oman, with a total investment of SR90 billion, targeting investment opportunities across various sectors.
Al-Falih also stated that the group addressed around 13 ideas, some of which have been finalized while others are still in progress.
It included the development of joint online platforms to provide investment opportunities in both the Gulf countries, according to Asharq.
During the Future Investment Initiative in October 2022, Saudi Crown Prince Mohammed bin Salman announced that the PIF intended to establish five regional companies in Bahrain, Jordan, Sudan, Iraq, and Oman, with a total investment of SR90 billion, targeting investment opportunities across various sectors.