King of Bahrain meets business leaders of Oman and Bahrain
His Majesty King Hamad bin Isa Al Khalifa of the Kingdom of Bahrain met at Al Alam Palace in Muscat with members of the Chambers of Commerce and Industry of Oman and Bahrain, as well as members of the Board of Directors of the Oman and Bahrain Investment Company.
The meeting aimed to strengthen trade between the two brotherly countries as part of His Majesty's state visit to the Sultanate of Oman.
His Majesty was briefed on the comprehensive plans of the Oman and Bahrain Investment Company. His Majesty expressed satisfaction with the efforts undertaken to achieve the company's objectives. The company aims to promote bilateral investment by providing opportunities for private sector companies from both countries.
The meeting discussed the sectors in which the company, with an authorised capital of OMR 10 million, could invest. These sectors align with the development visions of both countries, particularly in the fields of food security and logistics.
The meeting also reviewed investment opportunities available to the private sector in both countries, aiming to establish beneficial projects for the nations and their peoples.
Said bin Ahmed Al-Nahari, Chairman of the Board of Directors of the Oman and Bahrain Investment Company, stated that the company is an important economic initiative reflecting the strong brotherly relations between Oman and Bahrain.
He explained that the company aims to maximize investments and enhance joint ventures between private sector companies in both countries. The company plans to invest in existing companies listed on the Muscat Stock Exchange and establish firms in the fields of food security, industry, tourism, and logistics.
He added that the company is working to invite investors from both countries to participate through new share offerings, direct investment, or contributions as partners in individual projects. He emphasised the critical role of investors in supporting the company's vision and achieving its ambitious objectives to enhance economic cooperation and sectoral integration.
Said Al Nahari highlighted that the Oman and Bahrain Investment Company will work to strengthen economic and trade relations between the two countries, under the growing cooperation between the Chambers of Commerce and Industry of Oman and Bahrain. Since the signing of the memorandum of incorporation, efforts have focused on identifying priority sectors in line with the development visions of both countries.
Khalid Mohamed Najibi, First Vice President of the Bahrain Chamber of Commerce and Industry and a board member of the Oman and Bahrain Investment Company, underscored the importance of the meeting, adding that it reflects the commitment of the leadership of both countries to enhancing trade. He noted the mutual interest and alignment between the two sides.
Khalid Najibi said that during its initial phase, the company is focusing its investments on food security, logistics, industry, and pharmaceuticals, creating a platform for attracting private sector engagement in both countries.
He confirmed that the next step for the company involves listing it on the Bahrain and Muscat Stock Exchanges, with an emphasis on fostering joint projects between the two nations. The Board of Directors has been established, and efforts are currently underway to approve the company's final strategy.
The meeting was attended by Sayyid Hamoud bin Faisal Al Busaidi, Minister of Interior and Head of the Honorary Mission; Faisal bin Harib Al Busaidi, Oman's Ambassador to Bahrain; Dr Juma bin Ahmed Al Kaabi, Bahrain's Ambassador to Oman; Faisal bin Abdullah AlRawas, Chairman of the Oman Chamber of Commerce and Industry; and various officials from Oman and Bahrain.