5 billion riyals.. Saudi investment in 4 companies in the contracting sector
The fund of the Public Investment aims to pump one trillion riyals into new projects locally.
Shrouq
The Governor of the Public Investment Fund, Yasser Al-Rumayyan, said that the fund invested 5 billion riyals in 4 national companies in the contracting sector.
The 4 national companies are "Nesma and Partners", “Al Seif” Company and "Al Bawani Holding" in addition to "Al Mabanee" Company, by increasing its capital with the aim of building solid entities that keep pace with the Kingdom's desire in the construction and building sector.
To support the march of a thriving economy, Crown Prince Mohammed bin Salman pays great attention and care to involve the private sector and strengthen its role in developing the national economy and achieving Saudi Vision 2030. It encourages innovation and economic diversification, and aims to raise the private sector's contribution from 40% to 65% by 2030.
Projects locally
The fund aims to pump one trillion riyals into new projects locally.
The Fund developed a strategy to develop 13 strategic sectors in the Kingdom and launching initiatives to establish a clear mechanism to involve the private sector as an investor and partner in these sectors.
For example, the "Roshan" company provided opportunities for the private sector by allocating 30% of its lands to real estate developers to build promising housing.
Foreign investments
the investment fund governor said: "We have worked to create the required environment to attract local and foreign investments."
He referred to the establishment of the Saudi Recycling Company "SRIK", given the importance of the recycling sector, and work to support it.
The fund invests in the Funds Company "Jedi", which invests in more than 20 investment funds to support more than 350 local and regional companies, which contributed to enhancing the growth of the small and medium enterprises sector.
The Fund's strategy aims to provide opportunities to supply services and products to the Fund's projects and companies in the Kingdom and to contribute to developing the capabilities of the private sector.
