Saudi Arabia and Bahrain Strengthen Partnership in Social Housing and Urban Planning
A recent high-level meeting between Saudi Arabia and Bahrain has sparked discussions on potential collaboration opportunities in the social housing and urban planning sectors. The meeting took place on the sidelines of the Bahrain Smart Cities Summit 2024 in Manama, where key officials from both countries gathered to explore partnership possibilities.
Joint Technical Committee and Exchange of Expertise
During the meeting, the formation of a joint technical committee was proposed to develop planning solutions for residential neighborhoods. The agenda also included discussions on exchanging professional and specialized expertise and experiences to enhance cooperation between the two nations.
Focus on Smart Cities and Sustainable Projects
The event delved into recent trends in smart cities, with a particular emphasis on sustainable smart government projects. Topics such as the national afforestation plan, integration of artificial intelligence, and the Internet of Things in urban infrastructure were highlighted during the discussions.
Private Sector Growth and Investment Agreement
Following the signing of a cooperation and investment agreement between the sovereign wealth funds of Saudi Arabia and Bahrain, the private sectors of both countries are poised for growth. The agreement aims to enhance partnership opportunities and facilitate new financing opportunities in Bahrain.
Enhancing Collaboration for Economic Diversification
The memorandum of understanding (MoU) signed between the Saudi Public Investment Fund and Bahrain Mumtalakat Holding Co. presents various advantages for both countries. It aims to strengthen strategic partnerships, create opportunities for the private sector, and contribute to the economic diversification efforts of Saudi Arabia and Bahrain.
The CEO emphasized that the cooperation between the two Kingdoms signifies a continuation of their strong relations. The MoU aligns with Mumtalakat’s efforts to invest in promising economic sectors, provide quality job opportunities, and contribute to the national economy in line with Bahrain Vision 2030 goals.