LONDON: Bahrain has signed a memorandum of understanding for strategic investments and collaborations with Britain that will see the Gulf state’s private sector invest 1 billion pounds ($1.3 billion) in Britain, the Bahraini crown prince’s social media account said on Monday.
The investments will be through Bahraini sovereign wealth fund Mumtalakat, Investcorp, GFH Financial Group, and Osool Asset Management.
“The leaders welcomed the signing of a new Strategic Investment and Collaboration Partnership today between the UK and Bahrain,” a statement from Downing Street said.
“The agreement aims to facilitate additional investment of more than £1 billion into the UK, support the diversification of Bahrain’s economy and drive greater co-operation between our countries in clean technology, business services and manufacturing.
“The Prime Minister said the agreement marks the next chapter the historic and close relationship between the UK and Bahrain, which spans security, defence and trade.”
