Bahrain’s sovereign wealth fund eyes Saudi investments

Bahrain’s sovereign wealth fund Mumtalakat Holding Co. is looking to invest in Saudi Arabia as the country prepares to privatize state-owned entities under the Saudi Vision 2030 plan, MEED reported, citing the fund’s chief executive Mahmood Hashim Alkooheji.

“I think yes. It is a very important market to us,” Alkooheji said during the Euromoney Saudi Arabia conference in Riyadh. “The region offers a lot of opportunities. We have made investments in the UAE, the US and we invested in Spain and hopefully, we will be able to invest with our bothers in the Saudi Arabia as well.”

Alkooheji revealed that Mumtalakat had partnered with Saudi companies in Bahrain for investments. “Although we are owned by the government, we look at commercial businesses whether in Bahrain, or Saudi Arabia or elsewhere in the region,’’ he added, without providing any further details on the investment plans.

Mumtalakat holds stakes in over 40 commercial enterprises in sectors such as industrial manufacturing and services, financial services, tourism, telecommunications and real estate.