Saudi Crown Prince announces the establishment of the investment fund of 5 regional companies in Arab countries

Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince of Saudi Arabia, announced today that the Public Investment Fund has set up five regional companies to invest in the Hashemite Kingdom of Jordan, the Kingdom of Bahrain, the Republic of Sudan , in the Republic of Iraq and Sultanate of Oman, following the launch of the Saudi Egyptian Investment Company in August, where the value of targeted investments will reach up to 90 billion riyals (24 billion US dollars) in investment opportunity in various sectors.

The announcement was made during the second day of the sixth edition of the Future Investment Initiative, held in the capital Riyadh, in the presence of a group of investors, innovators and leaders from around the world.

Companies will invest in various strategic sectors, including but not limited to infrastructure, real estate development, mining, healthcare, financial services, food and agriculture, manufacturing, communications and technology, and other strategic sectors.

The establishment of the five new companies will develop and strengthen the investment partnerships of the Public Investment Fund and its companies in portfolio and the Saudi private sector for many investment opportunities in the region, which will help to achieve attractive long-term returns, and develop cooperation aspects of strategic economic partnerships with the private sector in each of the countries mentioned above.

The announcement of the establishment of the new companies is in in line with the strategy of the public investment fund for the search for new investment opportunities in Middle East and North Africa, which support the construction of long-term strategic economic partnerships to achieve sustainable returns, which contribute to maximizing the fund’s assets and diversifying the Kingdom’s sources of income, in in line with the Vision 2030 objectives.

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