Manama, September 3 /BNA/ In the presence of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, and as part of his official visit to the sisterly Arab Republic of Egypt, the Economic Development Board signed a Memorandum of Understanding with the General Authority for Investment and Free Zones in Egypt to enhance bilateral investment relations.

The MoU was signed on behalf of Bahrain by Her Excellency Mrs. Noor bint Ali Al Khalifa, Minister of Sustainable Development and CEO of the Economic Development Board, and on behalf of Egypt by Mr. Hossam Heiba, CEO of the General Authority for Investment and Free Zones.

On this occasion, the Minister of Sustainable Development and CEO of the Economic Development Board emphasized the importance of the MoU in strengthening investment cooperation between Bahrain and Egypt, noting that it will contribute to establishing an effective regulatory framework to enhance bilateral investments, exchange information on opportunities in key sectors and investment initiatives, as well as promote investment opportunities and provide services to investors in both countries, supporting the achievement of shared economic goals.

It is noteworthy that Egypt ranked 14th among the largest non-oil trade partners with the Kingdom of Bahrain in 2024 in terms of import volume, and ranked sixth among the largest export destinations. This reflects the strong commercial relations between the two countries, with non-oil trade volume reaching 460.5 million US dollars. Egyptian investments in Bahrain are concentrated in professional, scientific, and technical services, in addition to the finance and insurance sectors.