The PIF launches the Saudi Egyptian Investment Company
The Saudi Public Investment Fund (PIF) announced the launch of the Saudi Egyptian Investment Company, which aims to invest in a number of promising sectors in Egypt.
The company will focus on investing in several key sectors, including infrastructure, real estate development, healthcare, and financial services. This is in addition to investing in food, agricultural and industrial projects such as pharmaceutical industries and other attractive investment opportunities.
The company will contribute to the development and strengthening of the investment partnership of the PIF and its portfolio companies, and the Saudi private sector towards its many investment opportunities in Egypt, and this will contribute to achieving attractive returns in the long term and developing cooperation in many strategic sectors.
Deputy Governor and Head of the General Department of Investments in the Middle East and North Africa, Yazid bin Abdul Rahman Al-Humaid said that the announcement of the Saudi Egyptian Investment Company comes at a time when the Fund continues to expand regionally and globally within the framework of its 2021-2025 strategy.
He explained that “in light of the economic growth in the region, the company will work to take advantage of investment opportunities in the Egyptian market, in a number of key and promising sectors, which will contribute to strengthening the support of the Saudi sector companies and fund portfolio companies, and enabling it to expand, as the strategic economic partnerships developed by the Fund with many investors and leading companies are among the most important elements of its success.”
The launch of the Saudi Egyptian Investment Company comes in line with the strategy of the PIF 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 Saudi Arabia’s sources of income, in line with Vision 2030.”