Saudi wealth fund PIF launches new investment company in Egypt

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The launch of SEIC is in line with PIF’s strategy to seek new investment opportunities in the MENA region. Image Credit: Reuters

Riyadh: The Public Investment Fund (PIF) has launched the Saudi Egyptian Investment Company (SEIC) to invest in promising sectors throughout Egypt.

These funds will flow into priority sectors including but not limited to, infrastructure, real estate development, healthcare, financial services, food and agriculture, manufacturing, pharmaceutical and others. The company will also provide access for PIF and its portfolio companies to an array of investment opportunities in Egypt.

“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,” said Yazeed Alhumied, Deputy Governor and Head of MENA Investments at PIF. “The strategic economic partnerships that PIF has established with many investors and leading companies are among the most fundamental elements of its success.”

The launch of SEIC comes in line with PIF’s strategy to explore new investment opportunities in the MENA to maximize the Fund’s assets and diversify Saudi Arabia’s economy.

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