Saudi Arabia signs agreements valued at USD 15 billion

RIYADH, The Saudi Arabian General Investment Authority (SAGIA) announced on Tuesday signing 23 agreements at the value of USD 15 billion as part of the Future Investment Initiative (FII) 2019 activities.

The signing came as part of a ceremony, organized by SAGIA on the sidelines of FII that was launched earlier today, under the theme of “invest in Saudi”.

SAGIA said in a statement that the agreements included several investments activities in various strategic sectors, most prominently the fields of energy, water, medicine, logistics, petrochemical, and technical services, entrepreneurship and innovation.

Many memoranda of understanding were signed today as “we witnessed the participation of investors and decision makers from various parts of the world to FII,” SAGIA Governor Ibrahim Al-Omar affirmed in a statement.

This gives an indication of the strength and diversity of Saudi national economy, as the Kingdom is witnessing huge changes under the program of economic reforms led by (Saudi vision 2030), he added.

The third edition of the Future Investment Initiative (FII) 2019, being hosted by the Public Investment Fund, kicked off in Riyadh earlier on Tuesday, with participation of a number of heads of states and decision makers.

FII which is held under the auspices of the Custodian of Tow Holy Mosques King Salman Bin Abdulaziz, and headed by the Crown Prince and Deputy Prime Minister, Head of Economic and Developmental Affairs Council and Chairman of the Public Investment Fund (PIF) Prince Mohammad Bin Salman, is shedding light on future industries. It is also designed to enrich discussions on investment contributions for boosting development worldwide.

Source: Kuwait News Agency