Saudi Arabia to invest 5 billion USD in development projects in Bahrain
December 10, 2021, 2:27 am

Saudi Arabia to invest 5 billion USD in development projects in Bahrain

Bahrain/Pixabay

The Xinhua reported according to an official statement, Bahrain and Saudi Arabia on Thursday signed key agreements involving a Saudi investment of 5 billion U.S. dollars in development projects across Bahrain.

It said that the agreements came during the second meeting of the Saudi-Bahraini Coordination Council in Bahrain's Sakhir Palace, co-chaired by Bahraini Crown Prince and Prime Minister Salman bin Hamad Al Khalifa and visiting Saudi Crown Prince, Deputy Prime Minister and Defense Minister Mohammed bin Salman Al Saud.

A feasibility study for establishing a Bahraini-Saudi multi-industry holding company was agreed on during the meeting.

Saudi Arabia-Streets of Jeddah/Pixabay

The meeting also discussed cooperation between Bahrain's Oil and Gas Holding Company and Saudi Aramco, with a focus on oil and gas, the circular economy, and hydrogen production technology.

The Council urged the committee supervising the proposed King Hamad Causeway and railway network projects between the two kingdoms to complete economic and financial feasibility studies within a month.

During a joint press conference on Thursday with his Bahraini counterpart Abdullatif bin Rashid Al Zayani, Saudi Foreign Minister Faisal bin Farhan Al Saud called on Iran to "play a bigger role to return to the (2015) nuclear deal."

The Xinhua noted that Bahrain is the fourth leg of the Saudi crown prince's Gulf tour that has taken him to Qatar, the United Arab Emirates and Oman, and will end in Kuwait, all members of the Gulf Cooperation Council.

Source: xinhua

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has announced its sponsorship of the “Innovation and Sustainable Technology Solutions Competition (GU - IST Solutions), hosted by Gulf University at its main campus.
This strategic sponsorship reflects BENEFIT’s active role in advancing technological innovation and fostering sustainable solutions to future challenges. It also seeks to empower Bahraini youth by enhancing their skills, capabilities, and competitiveness in innovation and solution development—contributing meaningfully to the broader goals of sustainable development across all sectors.
As part of BENEFIT’s active involvement in the competition, the company has announced that Hanan Abdulla Hasan, Senior Manager of Public Relations and Communication, will serve on the competition’s supervisory committee. Her upcoming participation reflects BENEFIT’s forward-looking commitment to championing academic and professional excellence.
Commenting on the occasion, Hanan Abdulla Hasan, Senior Manager of Public Relations and Communication at BENEFIT, said, “We are privileged to support this pioneering initiative, which aligns seamlessly with BENEFIT’s enduring commitment to fostering innovation and nurturing the potential of Bahrain’s youth. Our participation is rooted in a deep sense of social responsibility and a firm belief in the pivotal role of innovation in shaping a sustainable future. Through such platforms, we seek to empower the next generation with the knowledge, skills, and foresight required to develop impactful solutions that address future challenges, in line with the United Nations Sustainable Development Goals 2030.”
Dr. Aseel Al Ayash Dean of the College of Engineering in Gulf University commented, “We extend our sincere gratitude to BENEFIT for their generous sponsorship and support of the Innovation and Sustainable Technology Solutions Competition. This contribution plays an instrumental role in helping us achieve the strategic goals of this initiative, namely, cultivating a culture of innovation and sustainability, encouraging efforts that address the imperatives of sustainable development, and enhancing the practical and professional capabilities of our students and participants.”
The event will bring together a diverse spectrum of participants, including secondary school students, university undergraduates, engineers, industry professionals, entrepreneurs, academic researchers, and subject matter experts representing a wide range of disciplines.
The competition seeks to inspire participants to develop and present innovative, sustainable technologies aimed at addressing pressing environmental, social, and economic challenges. It encourages the formulation of business models that integrate advanced technological solutions with core principles of sustainability. Moreover, it serves as a platform for emerging leaders, entrepreneurs, and innovators to contribute to the advancement of the Sustainable Development Goals, promote the ethos of responsible technology, and demonstrate its transformative potential across various sectors.
Attendees will have the opportunity to view a series of project presentations submitted by participants, covering diverse areas such as eco-friendly product design, smart and sustainable innovations, renewable energy technologies, water conservation and management, waste minimisation and recycling, green architectural solutions, and sustainable transportation systems. Outstanding projects will be formally recognised and awarded at the conclusion of the event.