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  • 24 Memoranda of Understanding and agreements signed at French-Saudi investment forum

    The French-Saudi Investment Forum, which brought together policymakers, business leaders and innovators from both countries, concluded with the signing of 24 Memoranda of Understanding (MoUs) and investment agreements with a combined value of approximately US$2.9 billion. These agreements covered sectors including clean energy, hospitality, culture, healthcare, manufacturing, military industries, health and education training, and attracting well-known brands.

  • Private Sector Investment in Saudi Economy Jumps 104%

    Non-governmental private sector investments in Saudi Arabia’s GDP for the past year increased 22 percent to reach $242 billion. Compared to 2016, investments witnessed a considerable jump, reaching 104 percent, despite the impact of the coronavirus pandemic on economic activities worldwide. The Saudi government is seeking to empower the private sector and raise its contribution to the gross domestic product from 40 to 65 percent as a target for 2030. Saudi Arabia inaugurated the Private Sector Partnership Reinforcement Program (Shareek) to strengthen government and private sector collaboration, which he said would enable private investment of $1.33 trillion until 2030.

  • BlackRock sees strong demand for infrastructure investments in Saudi Arabia

    BlackRock sees strong demand from its global clients for infrastructure investments in Saudi Arabia, Rachel Lord, Head of APAC at the asset manager, said on Wednesday. Speaking at an investor day, she said BlackRock has deployed over $15 billion in natural gas pipelines in Saudi Arabia and it has a "strong set of investment opportunities to come". In November, Saudi Arabia's Public Investment Fund and BlackRock signed an agreement to jointly explore infrastructure projects in the Middle East, focused on Saudi Arabia.

  • Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

    Saudi Arabia is seeking $20 billion in investments in the food industry by 2035, the Minister of Industry and Mineral Resources announced Monday. The Kingdom also aims to double the value of exports from $3.7 billion in 2022 to $10.9 billion in 2035, the official Saudi Press Agency (SPA) reported.

  • Saudi venture investment on the rise

    The country secured the largest number of VC deals valued at more than $100m in the MENA region in 2022, led by the $170m in series C capital raised by fintech and food platform Foodics. Trukker, an Uber-esque service for truck transportation, raised $100m of pre-initial public offering funding, with the same amount being raised in series B funding by buy now, pay later (BNPL) firm Tamara.

  • Saudi venture investment on the rise

    The country secured the largest number of VC deals valued at more than $100m in the MENA region in 2022, led by the $170m in series C capital raised by fintech and food platform Foodics. Trukker, an Uber-esque service for truck transportation, raised $100m of pre-initial public offering funding, with the same amount being raised in series B funding by buy now, pay later (BNPL) firm Tamara.

  • Saudi Arabia seeks more Chinese investment as ties strengthen

    The kingdom aims to attract Chinese investment not only in the midstream energy sector but also in its non-oil economic sectors, including industries, services, metals and mining or tourism, among others. “There are so many things that we want to do with them and equally they want to do with us,” Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman, said.

  • Saudi Arabia launches ‘visiting investor’ visa to boost foreign investments 

    The “visiting investor” visa is being launched by Saudi Arabia’s Ministry of Investment, which worked closely with the Kingdom’s Foreign Affairs department to develop the new permit. Saudi Arabia has demonstrated a keen interest in streamlining the process for investors and international companies looking to expand their portfolios within the Kingdom, as part of the Vision 2030 initiative to diversify the economy away from oil.

  • How a Dubai Casino Would Affect Real Estate Investment, and More Luxury News

    More of the world’s most expensive jewels, artwork and collectibles are showing up in Dubai so that its growing number of wealthy residents can eyeball the products in person. “They want to see these stones without having to travel,” says Katia Nounou Boueiz, Sotheby’s head of UAE. “All these pieces go on to Hong Kong, New York—and then Dubai is now one of the stops.”

  • OpenAI mulling Israel investment opportunities, Microsoft says

    OpenAI is considering investment opportunities in Israel, Microsoft Israel R&D center quoted the company's CEO, Sam Altman, as saying during a visit to the country on Monday. Microsoft, an OpenAI backer, hosted Altman at its Israel headquarters.