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HKMA, PIF Ink MoU to Set up US$1B New Investment Fund
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PIF and the Hong Kong Monetary Authority (HKMA) yesterday (31 October) signed a memorandum of understanding (MoU) to work towards jointly anchoring a new investment fund, with a target size of US$1 billion. Under the MoU, the fund would explore investment in manufacturing, renewables, fintech and healthcare, supporting the localization in Saudi Arabia of companies connected to Hong Kong and the Greater Bay Area. It would enable the creation of highly skilled local jobs and drive economic growth through fostering regional champions in the target sectors. It would reinforce Hong Kong’s position as one of the world’s leading financial hubs, leveraging its diverse talent pool, efficient financial infrastructure and deep liquidity. AAStocks Financial News |
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