PIF sets up investment firms in five countries: Saudi Crown Prince
HRH, Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, and Prime Minister announced that the Saudi Public Investment Fund (PIF) will establish 5 regional investment companies in Jordan, Bahrain, Sudan, Iraq, and the Sultanate of Oman.
This came after the launch of the Saudi Egyptian Investment Company, where the value of the targeted investments will reach $ 24 billion.
The company will focus on investing in several key sectors, including, but not limited to, infrastructure, real estate development, health care, mining, financial services, communications, and technology.in addition to investing in food, agricultural, and industrial projects such as pharmaceutical industries, strategic sectors, and other attractive investment opportunities.
According to the Saudi Press Agency (SPA), the company will contribute to developing and strengthening the investment partnership of the Public Investment Fund, its portfolio companies, and the Saudi private sector for many investment opportunities in the Arab countries.
Such opportunities will contribute to achieving attractive returns in the long term and developing aspects of cooperation in many strategic sectors.
The announcement comes in line with the Public Investment Fund’s strategy to search for new investment opportunities in the Middle East and North Africa region, which supports building long-term strategic economic partnerships to achieve sustainable returns.
