Manama: The Investment Promotion and Protection Agreement between the Government of the Kingdom of Bahrain and the Government of the Hong Kong Special Administrative Region is set to come into effect on Friday, March 21. This agreement signifies the strengthening ties between Bahrain and Hong Kong, particularly in the financial, economic, and investment sectors, and aims to create new opportunities for cooperation and joint initiatives.
According to Bahrain News Agency, Nawaf Hashem Al Sadeh, Assistant Undersecretary for International Cooperation at the Ministry of Finance and National Economy, emphasized Bahrain's commitment to fostering international partnerships. The goal is to attract foreign direct investment, encourage joint ventures, and create opportunities for citizens. The ministry has facilitated nearly 40 investment agreements to date, providing safeguards for investors, ensuring the free movement of capital, and allowing the transfer of profits and returns in freely convertible currencies between the contracting states.
Al Sadeh also noted that these agreements offer guarantees such as fair and prompt compensation for investors in cases of expropriation for public interest, in accordance with established legal procedures. The agreements outline mechanisms for dispute resolution between investors and contracting states, as well as between the states themselves, to reinforce investor confidence and ensure a secure and stable investment environment.
For further details on Bahrain's investment agreements, individuals are encouraged to visit the Ministry of Finance and National Economy's website at www.mofne.gov.bh.