HK investment deal to boost Bahrain financial sector
Bahrain - The Investment Promotion and Protection Agreement inked between the Government of the Kingdom of Bahrain and the Government of the Hong Kong Special Administrative Region will come into effect today (March 21).
The agreement reflects the strong and growing ties between Bahrain and Hong Kong, particularly in the financial, economic, and investment sectors.
It aims to create new and sustainable opportunities for cooperation and joint initiatives while reinforcing both sides' commitment to expanding investment prospects that support economic growth and prosperity, reported BNA.
Nawaf Hashem Al Sadeh, Assistant Undersecretary for International Cooperation at the Ministry of Finance and National Economy, emphasised Bahrain's commitment to fostering international partnerships to attract foreign direct investment, encourage joint ventures, and create high-value opportunities for citizens.
The ministry, he stated, actively facilitates investment agreements, with nearly 40 agreements signed to date, ensuring safeguards for investors, the free movement of capital, and the transfer of profits and returns in freely convertible currencies between the contracting states.
Al Sadeh further highlighted that these agreements provide guarantees, including fair and prompt compensation for investors in cases of expropriation for the public interest, in accordance with established legal procedures.
They also outline mechanisms for dispute resolution between investors and the contracting states, as well as between the states themselves, thereby reinforcing investor confidence and ensuring a secure and stable investment environment.-TradeArabia News Service
Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
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