Saturday, October 28, 2023

Saudi-Bahraini Investment Co. receives $5bn approval from Public Investment Fund: Al-Falih


Saudi Arabia’s Public Investment Fund has given the green light for the creation of the Saudi-Bahraini Investments Co. with a capital of SR18 billion ($5 billion), as confirmed by the Saudi investment minister, Khalid Al-Falih. The company’s headquarters will be announced soon, and Al-Falih revealed that the group has discussed 13 ideas, some of which are still in progress, including the development of joint online platforms to offer investment opportunities in both Gulf countries. The PIF plans to establish five regional companies in Bahrain, Jordan, Sudan, Iraq, and Oman with a total investment of SR90 billion, targeting various sectors. This announcement was made by Saudi Crown Prince Mohammed bin Salman during the Future Investment Initiative in October 2022.

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