Riyadh – Sharikat Mubasher: Khalid Al-Falih, Minister of Investment of Saudi Arabia, witnessed the signing of three investments during the second day of the 8th edition of the Future Investment Initiative (FII) in Riyadh.
This took place during an investment ceremony under the umbrella of Invest Saudi, according to a recent press release.
On the conference's second day, SBI Holdings (Japan) and BIM Ventures announced their joint ventures to establish BIM Capital. Such collaboration fosters growth opportunities within Saudi Arabia and the broader Middle East.
BIM Capital will focus on a diverse portfolio of investments, encompassing private equity, venture capital, debt funds, and real estate. This approach is designed to create substantial value within the region's financial and investment sectors.
Through this partnership, SBI Holdings and BIM Ventures aim to attract over $200 million in foreign direct investment and manage assets exceeding USD $2 billion (7.5 billion SAR).
Additionally, SBI Holdings is investing with the National Technology Group on an ETF dedicated to investing in the Saudi Stock Exchange (Tadawul). The ETF will be listed on the Tokyo Stock Exchange on 31 October. The Saudi ETF in Japan is designed to introduce Saudi equities to Japanese retail and institutional investors, aiming to broaden investment opportunities across both markets and has a target of reaching financial investments equal to $750m as AUM.
MISA and the International Finance Corporation (IFC) also signed an agreement to broaden and deepen cooperation in encouraging investment within the Kingdom and abroad. The agreement will provide the Saudi private sector with advisory and financial assistance, training, information exchange on global investment trends, technical expertise, and capacity building. IFC has maintained a 25+ year partnership with Saudi Arabia, investing a total of $5.5bn since 2007, including $1.5bn in public-private partnerships (PPPs). The current investment pipeline includes $1bn for PPPs and green finance initiatives.
The announcements followed two signed a day before between Hassana Investment Company and the State Oil Fund of the Republic of Azerbaijan and Saudi investment firm Beta Lab launching a $300-million growth fund with the Indonesian Investment Authority, Bank Central Asia Venture, MDI by Telkom Indonesia and Hong Kong UST.