King Abdullah Economic City (KAEC) has set up the Kingdom’s first investment fund to support entrepreneurial projects in the restaurants and hospitality sector, Fahd Al Rasheed, chief executive officer of KAEC and Emaar Economic City (EEC), told Al-Eqtisadiah newspaper.
No further details were provided about the fund’s capital.
The new vehicle will be launched by the end of this year, Al-Rasheed said.
It is backed by EEC and aims to encourage entrepreneurs to launch more small and medium-sized enterprises inside and outside the city, he added.
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