RIYADH, July 27 (Xinhua) -- The Public Investment Fund (PIF) of Saudi Arabia said on Thursday that it signed a Memorandum of Understanding (MoU) with the Oman Investment Authority to expand cooperation and investment, the Saudi Press Agency reported.
The MoU provides benefits and incentives for PIF and its portfolio companies intending to unlock investment opportunities in Oman, the report said.
It also aims to expand PIF's portfolio in Oman, building on the recent establishment of the Saudi Omani Investment Company. This PIF-owned company intends to invest up to 5 billion U.S. dollars in promising sectors in Oman.
Through this MoU, PIF aims to streamline its investment activities in Oman across a wide range of asset classes and target industries.
