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Saudi Arabia, Bahrain Ink Transport Pact

Women's Tabloid News Desk
Women's Tabloid News Desk

Saudi Arabia and Bahrain have signed two memorandums of understanding (MoUs) to enhance their partnership in transportation and logistics. The agreements, signed in Manama, focus on collaboration in road maintenance and include efforts such as knowledge exchange, training programs, and joint research initiatives. This move reflects ongoing efforts by both countries to explore partnership opportunities across various sectors.

Earlier discussions this month at the Bahrain Smart Cities Summit 2024 centered on potential collaborations in social housing and urban planning. This high-level meeting saw officials from both nations discussing the establishment of a joint technical committee and the exchange of expertise.

In addition, a cooperation and investment agreement was signed between the sovereign wealth funds of Saudi Arabia and Bahrain. This agreement aims to deepen the partnership between the two entities and create new financing opportunities in Bahrain. This presents various advantages for both funds and their portfolio companies, fostering investment opportunities and growth in the private sectors of both countries.

Saudi Arabia has also announced plans to invest SR1.6 trillion ($426.72 billion) through partnerships with the private sector and various countries, signaling a commitment to further economic development and collaboration.

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