Bahrain Signs $170 Billion US Deals, Boosts Economic Diversification

Bahrain and several American private enterprises have signed multiple cooperation agreements totaling approximately 170 billion dollars. These agreements span various sectors, including communication infrastructure, aerospace manufacturing, energy investment, and the aluminum industry chain.

Bahrain, a Gulf nation located in the southwestern part of the Persian Gulf, has been actively promoting economic diversification and foreign investment in recent years. The agreements were signed during the visit of the Crown Prince and Prime Minister of Bahrain to the United States.

In the information technology sector, Bahrain will collaborate with an American company to upgrade its government communication and information network systems. The project involves the construction of an 800-kilometer fiber-optic composite submarine cable, connecting Bahrain, Saudi Arabia, Kuwait, and Iraq, and linking to the global communication network. This initiative is jointly undertaken by Bahrain's sovereign wealth fund, Mumtalakat, and an American submarine cable enterprise.

Additionally, the two parties will work on establishing a direct flight route between Bahrain and New York, facilitating travel between the two locations. In the energy and manufacturing sectors, Mumtalakat will invest approximately 20 billion dollars in aluminum industry chain-related projects in the United States in collaboration with multiple American enterprises.

Furthermore, several financial institutions and private enterprises in Bahrain plan to invest a total of approximately 107 billion dollars in the United States. Bahrain is also set to invest in a liquefied natural gas project in the United States and collaborate with an American supercomputing enterprise to procure advanced artificial intelligence chips. Meanwhile, the national airline of Bahrain, Gulf Air, intends to sign a 70 billion dollar agreement with Boeing and General Electric (GE). This agreement includes the purchase of 12 aircraft from Boeing, with an option to acquire an additional 6, and the procurement of 40 engines from GE.

This collaboration is seen as a significant step by Bahrain in promoting economic diversification and expanding foreign investment. The agreements highlight Bahrain's strategic efforts to enhance its economic landscape through partnerships with leading American enterprises, fostering growth and innovation across multiple sectors.