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  • 27-10-22

    Bin Salman: PIF to create 5 investment firms with neighboring nations to attract USD24B

    (MENAFN) Saudi Arabia’s Crown Prince Mohammed bin Salman has declared that the Public Investment Fund is going to create five additional investment firms in the region, in countries including Jordan, Bahrain, Sudan, Iraq, as well as the Sultanate of Oman.

    This comes after the creation of the Saudi Egyptian Investment Co. two months ago, and throughout all six firms the worth of the aimed at investments are going to amount to SR90 billion (USD24 billion) in prospects through several areas.

    Firms are going to finance in infrastructure, real estate improvement, mining, healthcare, economic facilities, food as well as agriculture, manufacturing, telecommunications on top of technology, and other tactical industries.

    Shown throughout the second day of the 6th edition of the Future Investment Initiative Meeting, the declaration comes along with the PIF’s mission of attracting additional financing prospects in the Middle East and North Africa area.

    Not only will the creation of the new investment firms support the Saudi private sector growth, but it will help all six nations in the deal as well.

    MENAFN27102022000045014228ID1105086995

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