Following the establishment of the Saudi company Egyptian Investment last August, Prince Muhammad bin Salman bin Abdulaziz Al Saud, the Saudi Crown Prince, announced today, Wednesday, that the Public Investment Fund established five regional companies with a goal of investing in the Hashemite Kingdom of Jordan, the Kingdom of Bahrain, the Republic of Sudan, the Republic of Iraq, and the Sultanate of Oman, with a target investment value of 90 billion riyals (24 billion US).
It was announced during the second day of the sixth edition of the Investment Future Initiative held in the capital, Riyadh, in the presence of a group of investors, innovators and leaders from all over the world.
Infrastructure, real estate development, mining, health care, financial services, food and agriculture, manufacturing, communications and technology, and other vital industries are just a few of the organisations that fall under this category.
The establishment of the five new companies will work to develop and enhance investment partnerships of the Public Investment Fund and its portfolios, and the Saudi private sector for many investment opportunities in the region, which will contribute to achieving attractive long -term returns, and developing aspects of strategic economic partnerships with the private sector in each of the countries all of the above.
The Public Investment Fund’s strategy of looking for new investment opportunities in the Middle East and North Africa region is consistent with the announcement of the founding of new businesses. This strategy encourages the formation of long-term strategic economic partnerships in order to achieve sustainable returns, which helps the Kingdom maximise its financial resources and diversify its revenue streams in order to meet the goals of Vision 2030.
The Public Investment Fund has created five investment firms, the Saudi Crown Prince reveals.
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