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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Saudi sovereign fund intends to invest billions of dollars in America

    Rocky
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    Saudi sovereign fund intends to invest billions of dollars in America Empty Saudi sovereign fund intends to invest billions of dollars in America

    Post by Rocky Thu 14 Feb 2019, 2:09 am

    Saudi sovereign fund intends to invest billions of dollars in America

    Saudi sovereign fund intends to invest billions of dollars in America 13014


    The Saudi Public Investment Fund (Sovereign Fund) plans to pump billions of dollars into the Silicon Valley Wall Street in the United States. The fund, headed by Crown Prince Mohammed bin Salman, plans to open offices in New York, San Francisco and London.
    "The fund will not only be in Riyadh, we feel we need to be closer to our business there, I mean the United States," said Yasser Rumayan, managing director of the fund.
    The Fund is a major driver of Saudi Arabia's Vision 2030, which seeks to diversify the economy away from oil. The Kingdom is aiming to develop new tourism and leisure industries in an effort to encourage Saudis to spend more of their money inside the country.
    The vision of Saudi Arabia 2030 also supports a prestigious project called Newum, a huge future city of $ 500 billion that will rely on self-propelled vehicles and unmanned aerial vehicles.
    "The Saudis spend about $ 20 billion annually on tourism outside the kingdom, and we want to return some of that money," he said.
    The fund aims to increase its assets from $ 224 billion to $ 400 billion by 2020 and increase the share of foreign investment in its portfolio from 10% to 50% by 2030. The Fund expects to increase the number of employees from 450 to 700 by the end of this year.
    The technology fund "Vision" is one of the largest investments of the Sovereign Equity Fund, which it established with Softbank of Japan, where Saudi Arabia invested $ 45 billion.
    Separately, the fund invested $ 3.5 billion in Ober in 2016, Al Rumayan is a board member and the fund has a 5% stake in Tesla, according to Elon Musk CEO.
    However, Saudi Arabia's relations with international businesses have been closely scrutinized since the death and dismemberment of journalist Jamal Khashoggi after he entered the Saudi consulate in Istanbul in October. This led to the withdrawal of the largest banks, Last October. 
    "All these stories with Khashoggi do not help," Egyptian billionaire Naguib Sawiris said in an interview with John Defterios, editor of emerging markets on CNN.
     "I am not saying that I will never invest in Saudi Arabia." I say that we need some transparency, let's assume that I have a disagreement with my Saudi partner and I want to go to court, which court will I go to? "

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