The UK government and Bahrain have signed a new investment and collaboration partnership that is set to unlock £2bn of investment into Britain.
The strategic investment and collaboration partnership (SIP) is double the £1bn commitment made in 2023 and will focus on investing in key growth sectors including financial services, technology and decarbonisation.
It comes after Prime Minister Sir Keir Starmer met with His Royal Highness Crown Prince Salman bin Hamad Al Khalifa, Prime Minister of the Kingdom of Bahrain, last week where the deal was formally signed.
The partnership, which will help create new jobs and boost growth across the UK, has been established to provide British companies opportunities to take advantage of Bahrain’s business environment.
During their visit to the UK, a delegation of Bahraini investors visited growth projects and business in Manchester, Leeds, and Sheffield, in order to explore opportunities to support the UK Government’s growth agenda.
“In a changing world, Britain is increasingly seen as a place for investment and growth – thanks to the stability we have brought to the economy and our pro-business approach,” said Chancellor of the Exchequer Rachel Reeves
“This £2bn investment into the growth-driving sectors where Britain thrives will create good jobs paying decent wages in all corners of our country, putting more money in people’s pockets as part of our Plan for Change.”
Business and Trade Secretary Jonathan Reynolds added: “This £2bn commitment is yet another major vote of confidence in the UK economy, backing the key growth sectors we’ve identified in our upcoming modern Industrial Strategy.
“We have the most open, stable and connected economy in the world – and our Plan for Change will encourage more countries to invest here, delivering long-term growth that supports good, skilled jobs across the country.”