The Strategist

Saudi Arabia invests $24 billion in five Arab countries

10/27/2022 - 11:25

According to the SPA news agency, the Public Investment Fund (PIF) of Saudi Arabia has launched five regional businesses with assets totaling 90 billion riyals ($24 billion) to fund projects in Jordan, Bahrain, Sudan, Iraq, and Oman.
The companies will make strategic investments in a number of industries, including manufacturing, communications, real estate, infrastructure, mining, financial services, healthcare, food and agriculture, and technology.

According to the agency, "the establishment of the five new companies will develop and strengthen investment opportunities in the region by the Public Investment Fund, its companies, and the Saudi private sector, which will contribute to achieving meaningful returns over the long term and creating strategic economic partnerships with the private sector in each of the above countries."

A comparable Saudi-Egyptian investment firm was founded in August.

According to Saudi Arabia's 2030 economic growth plan, the PIF strategy seeks out new investment opportunities across the Middle East and North Africa.


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