Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of the kingdom, has reached an agreement with Abu Dhabi's Mubadala Investment Company to establish a joint investment fund for projects in both countries and abroad.

 

This comes following discussions between the two entities who later agreed to collaborate on areas of mutual interest and encourage co-operation in investments beneficial to the interests of both Bahrain and the UAE. 

 

The agreement was signed in the presence of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, by the Mumtalakat CEO Khalid Al Rumaihi and Mubadala Managing Director and Group CEO Khaldoon Khalifa Al Mubarak. 

 

Al Rumaihi, commending the depth of Bahrain-UAE diplomatic and economic ties, said the official visit to the UAE, led by HRH the Crown Prince and Prime Minister, was a significant one in furthering co-operation between the two countries across a range of investment initiatives and areas.

 

A major player in the region, Mumtalakat holds stakes in over 50 commercial enterprises with a portfolio spanning a variety of sectors, including industrial manufacturing, financial services, telecommunications, real estate, logistics, consumer products, healthcare and education.-TradeArabia News Service