Saudi investment authority to invite 250 foreign investors in December

03/11/2018 Argaam

 

Saudi Arabia’s General Investment Authority (SAGIA) plans to invite 200 foreign entrepreneurs and 50 international venture capital funds to the Kingdom next December, Asharq Al-Awsat reported, citing Mazen Al-Zaydi, head of SAGIA’s innovation and entrepreneurship division.

 

SAGIA is seeking international innovators and entrepreneurs to launch their start-ups in the Kingdom, he said, adding that the authority focuses on IT and Fintech sectors, as well as entertainment, sports, and health technology.

 

Government funds are being established now, such as Insha’at (development) Fund, in an effort to attract venture capital investments and to support local and foreign projects in the Kingdom, he added.

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