PIF Creates Saudi-Egyptian Investment Company
Posted on 08/08/2022
The Public Investment Fund (PIF) of Saudi Arabia launched the Saudi-Egyptian Investment Company (SEIC). The Saudi-Egyptian Investment Company will target investments in Egypt in areas such as infrastructure, real estate development, healthcare, financial services, food and agriculture, manufacturing, and pharmaceutical, along with other investment opportunities.
“In light of the economic growth in the region, SEIC will capitalize on lucrative investment opportunities within a number of promising Egyptian economic sectors, which will also support the expansion efforts of Saudi businesses and other PIF portfolio companies,” Deputy Governor and Head of MENA Investments at PIF Yazeed Alhumied said.
Earlier, Saudi Arabia pledged US$ 15 billion to support Egypt.
The International Monetary Fund (IMF) is working with Egypt on a new agreement. The IMF wants Egypt to take measures to promote the development of the private sector, while improving corporate governance.
