Saudi Crown Prince Mohammed bin Salman, Prime Minister, Chairman of the Council of Economic and Development Affairs and Chairman of the Public Investment Fund, announced on Wednesday that the Fund will establish five companies aimed at investing in Bahrain, Iraq, Jordan, Oman, and Sudan.
The announcement follows the launch of the Saudi Egyptian Investment Company (SEIC), a wholly owned PIF subsidiary, in August 2022. The six companies aim to invest up to a total of SAR 90 billion (USD 24 billion) in opportunities across various key sectors in each market.
