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Saudi Arabia establishes 5 companies targeting an investment of $24 billion in countries including Iraq
Shafaq News/ Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, Chairman of the Council of Economic and Development Affairs and Chairman of the Board of Directors of the Public Investment Fund announced today, Wednesday, that the Public Investment Fund has established (5) regional companies aimed at investing in several countries, including Iraq.
These companies target investment in Jordan, Bahrain, Sudan, Iraq, and Oman, after the launch of the Saudi Egyptian Investment Company last August. The value of the targeted investments will reach 90 billion riyals (24 billion US dollars). into investment opportunities across various sectors.
According to the official Saudi Press Agency "SPA", the companies will invest in several strategic sectors, including, but not limited to, infrastructure, real estate development, mining, health care, financial services, food and agriculture, manufacturing, communications and technology, and other sectors. The strategy.
She explained that the establishment of the five new companies will develop and strengthen the investment partnerships of the Public Investment Fund and its portfolio companies, and the Saudi private sector for many investment opportunities in the region, which will contribute to achieving attractive returns in the long term, and develop aspects of cooperation of strategic economic partnerships with the private sector in every country. of the aforementioned countries.
The announcement of the establishment of the new companies comes in line with the strategy of the Public Investment Fund to search for new investment opportunities in the Middle East and North Africa, which support building long-term strategic economic partnerships to achieve sustainable returns, which contributes to maximizing the fund’s assets and diversifying the Kingdom’s sources of income. In line with the goals of Vision 2030, according to the agency.
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These companies target investment in Jordan, Bahrain, Sudan, Iraq, and Oman, after the launch of the Saudi Egyptian Investment Company last August. The value of the targeted investments will reach 90 billion riyals (24 billion US dollars). into investment opportunities across various sectors.
According to the official Saudi Press Agency "SPA", the companies will invest in several strategic sectors, including, but not limited to, infrastructure, real estate development, mining, health care, financial services, food and agriculture, manufacturing, communications and technology, and other sectors. The strategy.
She explained that the establishment of the five new companies will develop and strengthen the investment partnerships of the Public Investment Fund and its portfolio companies, and the Saudi private sector for many investment opportunities in the region, which will contribute to achieving attractive returns in the long term, and develop aspects of cooperation of strategic economic partnerships with the private sector in every country. of the aforementioned countries.
The announcement of the establishment of the new companies comes in line with the strategy of the Public Investment Fund to search for new investment opportunities in the Middle East and North Africa, which support building long-term strategic economic partnerships to achieve sustainable returns, which contributes to maximizing the fund’s assets and diversifying the Kingdom’s sources of income. In line with the goals of Vision 2030, according to the agency.
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