UAE, Bahrain announce entry into force Investment Promotion and Protection Agreement
8 May 2025 13:29
ABU DHABI (WAM)The UAE and the Kingdom of Bahrain announced the entry into force of the Investment Promotion and Protection Agreement, signed between the governments of both countries, effective May 8, 2025. This follows the completion of the required legal procedures by both sides, in accordance with the provisions of the agreement.This step reflects the strong fraternal ties and the growing economic partnership between the two brotherly nations, and reaffirms their commitment to enhancing investment cooperation in a way that serves the interests of investors from both sides, and supports the sustainable development goals of both countries.The agreement provides a comprehensive legal framework that ensures full protection for investments, strengthens mutual investor confidence by guaranteeing fair and equitable treatment, and provides clear mechanisms for dispute resolution.In light of the rapid developments in the digital economy, the agreement underscores the importance of enhancing cooperation between the two countries in areas related to digital trade, including data protection, privacy, cybersecurity, intellectual property rights, and electronic signatures and authentication.It also promotes the exchange of best practices, and the development of technical capacities. This represents a qualitative step towards creating a modern and advanced investment environment that aligns with the aspirations of both countries in supporting digital transformation and enhancing economic competitiveness.Sheikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, affirmed that Bahrain places great importance on opening new avenues of cooperation with the UAE in light of the strong and longstanding fraternal relations between the two countries.He noted that bilateral agreements between the two brotherly nations play a vital role in advancing joint cooperation, in line with the visions and aspirations of His Majesty King Hamad bin Isa Al Khalifa of Bahrain and UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, who embody a model of fraternal relations rooted in deep ties and a shared history.He added that Bahrain continues to strengthen investment cooperation at the regional and international levels, having signed nearly 40 agreements to promote and protect investments, which contribute to economic growth and open new doors to promising opportunities.For his part, Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, affirmed that the agreement's entry into force reflects the shared will to deepen bilateral economic relations, and marks a new milestone on the path toward greater Gulf economic integration.He added that it also reflects a flexible and forward-looking response to changes in the regional and global economic landscape, particularly in light of current global challenges that require intensified efforts to foster a more stable and attractive investment environment.He highlighted the importance of continued coordination between the relevant authorities in both countries to activate and follow up on the implementation of the agreement to ensure the achievement of its intended objectives.Al Hussaini noted that the agreement will contribute to enhancing the competitiveness of both economies and opening new horizons for high-quality investments, particularly in priority economic sectors.
He further emphasised that the agreement serves as a foundation for expanding the strategic partnership between the two countries by encouraging mutual investments, facilitating capital flows, and providing an investment environment based on transparency, fairness, and institutional integration. He concluded that the agreement is one of the key pillars that reflects the shared vision of both nations for a diversified, competitive, and innovation-driven economy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Etihad
2 hours ago
- Al Etihad
UAE President enquires about wellbeing of Emirati pilgrims in call with Head of Pilgrims Affairs Office
5 June 2025 18:57 ABU DHABI (WAM)UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan held a telephone call today with the Head of the UAE Pilgrims Affairs Office to enquire about the wellbeing of Emirati pilgrims performing Hajj at the holy Highness congratulated the pilgrims on completing their pilgrimage and on the occasion of Eid Al-Adha, wishing them continued good call was made to His Excellency Dr Omar Habtoor Al Darei, Chairman of the General Authority of Islamic Affairs, Endowments and Zakat, and Head of the UAE Pilgrims Affairs UAE President praised the Kingdom of Saudi Arabia for the exceptional services and facilities it provides to ensure the comfort and safety of pilgrims throughout the Al Darei expressed his deep appreciation for the President's thoughtful gesture and his ongoing commitment to following up on the needs of UAE citizens, both at home and abroad. He also thanked His Highness for his continued support of the Pilgrims Affairs Office, which enables the team to deliver comprehensive services and ensure a smooth and safe Hajj experience for all Emirati pilgrims.
Al Etihad
4 hours ago
- Al Etihad
UAE Parliamentary Division participates in 11th BRICS Parliamentary Forum
5 June 2025 16:06 BRASÍLIA (WAM)The UAE Parliamentary Division took part in the 11th BRICS Parliamentary Forum held in Brasília, the capital of Ali Rashid Al Nuaimi, Chairman of the Committee on Defence, Interior, and Foreign Affairs in the Federal National Council (FNC), delivered the UAE delegation's statement during a session titled, "Brics Parliamentary Action in Search of New Paths for Economic Development." Sara Mohammad Falaknaz, FNC Member accompanied the delegation. In his remarks, Dr. Al Nuaimi emphasised that identifying new paths for economic development amid current global challenges is, in itself, a significant underscored the importance of upholding two core pillars: first, the commitment to the founding principles and goals of BRICS, which are vital for guiding collective action and maintaining cohesion and shared vision; and second, focusing on serving the people through genuine partnerships and innovative initiatives that foster inclusive and impactful economic Al Nuaimi highlighted that the post-World War II international order is undergoing profound transformation, with serious threats to the principle of economic justice. He noted that economic tools are often wielded to serve narrow interests at the expense of balance and this context, he stressed the importance of BRICS nations remaining united around key principles, particularly fair trade, mutual interests, and inclusive further stated that the role of parliaments extends beyond legislation and oversight. It includes ensuring that economic policies translate into real improvements in people's lives through development initiatives with a tangible social Al Nuaimi also underscored that the ultimate goal of development should not be profit alone, but the establishment of a humane economy, one that supports marginalised communities, promotes social justice, and ensures no region or population, whether in Africa, Asia, or Latin America, is left behind. In conclusion, he affirmed that building trust among BRICS nations, staying true to the group's founding principles, and launching impactful economic initiatives are essential steps toward a fairer, more cooperative, and prosperous future for all.
Al Etihad
5 hours ago
- Al Etihad
Onshur marks major milestone with graduation of Scale Track cohort
5 June 2025 15:31 SHARJAH (WAM) Under the patronage and in the presence of Sheikha Bodour bint Sultan Al Qasimi, Chairperson of the Sharjah Book Authority (SBA), the Sharjah Publishing Sustainability Fund (Onshur) celebrated the graduation of the first cohort of its 2025 Scale Track at SBA's programme is designed to support established publishers in the UAE in scaling their operations through sustainable and strategic growth. The ceremony honoured twelve publishers who completed the intensive training event was attended by Ahmed bin Rakkad Al Ameri, CEO of SBA, and Rashid Al Kous, Executive Director of the Emirates Publishers Association, as well as programme partners, experts, trainers, and representatives from local and Arab twelve graduating publishers were selected from a pool of 62 applicants who met rigorous eligibility criteria. These included a demonstrated track record of producing high-quality cultural content and a well-defined strategic vision for expansion aligned with global publishing graduating cohort comprised Ajyal Publishing, Ghaf Publications, Sidra Publishing and Distribution, Loaloa Publishing and Distribution, Kalman Publishing and Distribution, Nabatti Publishing, Shaheen Printing Publishing and Distribution, Dar Al-Farqad, Dar Shams Publishing, Dar Al Fikr Al Jadeed, Dar Al Bayan Al Arabi, and Noor on the occasion, Sheikha Bodour Al Qasimi, Chairperson of SBA, emphasised the importance of empowering UAE publishers to grow and innovate within a sustainable framework. She stated, 'The Scale Track reflects our vision of enabling publishers to move beyond survival, towards a future defined by excellence, creativity, and leadership in enriching the Arab publishing landscape both locally and globally.'She continued, 'I am proud of this cohort, who have shown a remarkable capacity for learning, growth, and openness to new experiences. I believe they are now equipped with the tools and insights needed to build more resilient and adaptable business models. While they represent the current state of Arab publishing, they are equally poised to shape its global future, fuelled by ambition, determination, and a genuine passion for the written word.'Ahmed bin Rakkad Al Ameri said, 'What distinguishes these publishers is their clear ambition to grow and their willingness to embrace new tools and ideas that can propel their businesses forward. Their participation in the Scale Track represents a strategic blueprint for the regional publishing sector's expansion, firmly rooted in innovation and sustainability. This vision is inspired by Sheikha Bodour Al Qasimi's commitment to cultivating a network of publishers equipped to compete on both regional and global stages, driving a renewed momentum for Arab literature and culture.'For his part, Rashid Al Kous congratulated the graduates and commended their commitment to transforming ambition into tangible said, 'We extend our congratulations to this exceptional cohort, who have exemplified what it means to turn vision into reality. The Scale Track has provided participants with critical skills enabling them to thrive in both local and international markets amid a rapidly evolving publishing landscape.'The ceremony opened with a keynote speech by Iman Ben Chaibah, Director of Strategic Initiatives and Global Markets at highlighted that Onshur is reshaping how support is delivered to publishers by offering a comprehensive strategic framework that fosters long-term, sustainable growth. 'The Scale Track has surpassed the boundaries of traditional training,' she said. 'It has established a professional platform dedicated to enhancing publishers' operational capabilities and deepening their industry expertise.'Following the directives of Sheikha Bodour bint Sultan Al Qasimi, graduates of the Scale Track benefit from a robust package of post-programme support. This includes one year of professional accounting services to ensure compliance, guidance in applying for the Sharjah International Translation Grant, onboarding to Ingram's global distribution network, access to business loans secured against publishing contracts, specialised advisory sessions, and priority access to upcoming Onshur measures are designed to help publishers shift from operational stability to strategic and sustainable expansion.
