Bahrain, Hungary launch bilateral investment protection agreement

TDT | Manama

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The Agreement between the Government of the Kingdom of Bahrain and the Government of Hungary for the Promotion and Protection of Investments officially enters into force yesterday.

This agreement underscores the strong and expanding bilateral relationship between Bahrain and Hungary, particularly in financial, economic, and investment sectors.

It aims to promote sustainable cooperation and joint initiatives, reflecting both nations’ shared commitment to fostering promising investment opportunities that contribute to mutual prosperity.

Strong commitment

Nawaf Hashem Al Sadeh, Assistant Undersecretary, International Cooperation Affairs at the Ministry of Finance and National Economy, noted that Bahrain is strongly committed to broadening its international cooperation to attract foreign direct investment, support joint ventures, and create quality economic opportunities for its citizens.

He emphasised that the ministry has concluded over 40 investment promotion and protection agreements, ensuring robust safeguards for investments and the unrestricted transfer of capital, profits, and returns in freely convertible currencies between the two countries.

Al Sadeh further underscored that the agreement guarantees fair and prompt compensation to investors in cases of expropriation for public interest.