Manama, Sept. 6 (BNA): The Agreement between the Kingdom of Bahrain and Japan for the Reciprocal Promotion and Protection of Investment, signed in Manama on June 23, 2022, came into effect today.
The agreement is within the long-standing solid Bahraini-Japanese relations, which are growing steadily across various fields, especially the financial, economic and investment ones, which contributes to creating renewed opportunities for bilateral cooperation and joint action.
The agreement reflects the two countries’ shared desire to further develop their ties to create more promising investment opportunities that would benefit them.
On the occasion, Nawaf Al-Sayed Hashim Al-Sada, Assistant Undersecretary for International Cooperation Affairs at the Ministry of Finance and National Economy, highlighted the Ministry’s constant keenness to sign similar agreements with various countries, based on its role in strengthening the kingdom’s relations with other countries in the financial and economic fields, as well as providing the appropriate environment to attract direct foreign investments and encourage joint ones.
These agreements aim to ensure suitable investment environment by providing the necessary guarantees to protect investments and the freedom of movement of capital, profits and other returns in a freely convertible currency for investors from the two contracting states.
They also aim to ensure that the investor is fairly and promptly compensated for their investment in the event of its confiscation for the public interest within the framework of legal procedures.
They also determine mechanisms for settling disputes that may arise between one state and an investor from the other state, or those that may arise between the two contracting states.
WHQ
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