The Investment Fund launches a $1 billion partnership with the Hong Kong Monetary Authority
The Saudi Public Investment Fund and the Monetary Authority began Hong Kong, a $1 billion fund to help Hong Kong and Greater Bay Area (Chinese) companies expand in Saudi Arabia.
Hong Kong Finance Minister Paul Chan said, in a speech at a conference on Tuesday, that the initiative between the Hong Kong Monetary Authority and the Public Investment Fund will contribute to the development of non-oil economic sectors in Saudi Arabia.
Chan said that it is scheduled to host A major Saudi development company A roadshow tour in Hong Kong next month to search for strategic partners and professional service providers to support the development of Infrastructure.
Chan explained that initial public offerings have made a notable recovery in Hong Kong this year, reaching about $28 billion as of last October, making the city the world’s leading financial center in new listings so far this year.
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