Bahrain - The agreement between Bahrain and Hungary for the promotion and protection of investments officially came into effect yesterday.

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

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

Finance and National Economy Ministry assistant under-secretary for international co-operation affairs Nawaf Al Sadeh noted that Bahrain is strongly committed to broadening its international co-operation to attract foreign direct investment, support joint ventures, and create quality economic opportunities for its citizens.

He emphasised that the ministry has concluded more than 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.

Mr Al Sadeh further underscored that the agreement guarantees fair and prompt compensation to investors in cases of expropriation for public interest, in line with legal procedures, and establishes clear dispute-resolution mechanisms to address any conflicts between an investor and a host state, or between the two contracting governments, aimed at reinforcing investor confidence and promoting a secure and stable investment environment.

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