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Saudi PIF Acquires Stakes in 4 Egyptian Companies Worth $1.3b

Egypt looks forward to more cooperation with the Saudi Public Investment Fund. (Asharq Al-Awsat)
Egypt looks forward to more cooperation with the Saudi Public Investment Fund. (Asharq Al-Awsat)
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Saudi PIF Acquires Stakes in 4 Egyptian Companies Worth $1.3b

Egypt looks forward to more cooperation with the Saudi Public Investment Fund. (Asharq Al-Awsat)
Egypt looks forward to more cooperation with the Saudi Public Investment Fund. (Asharq Al-Awsat)

The Saudi Egyptian Investment Company (SEIC), owned by Saudi Arabia's state-owned Public Investment Fund (PIF), has bought minority stakes in four Egyptian companies for $1.3 billion, Egypt's planning ministry said on Wednesday.

The companies are Abu Qir Fertizilers and Chemical Industries, Misr Fertilizers Production Company, Alexandria Container and Cargo Handling, and payments firm E-Finance for Financial and Digital Investments.

The PIF congratulated in a tweet the SEIC on acquiring stakes in four major Egyptian companies.

Last week PIF set up SEIC with the stated aim of investing in Egypt's “promising economic sectors,” being one of the key strategic economic markets in Africa.

The Saudi sovereign wealth fund is building an international portfolio of investments while also investing locally in projects to help reduce the Kingdom's economic reliance on oil. It has approximately $620 billion of assets under management.

Minister of Planning and Economic Development and Chairman of the Board of Directors at Egypt's Sovereign Fund Hala al-Saeed said that the deal comes in line with the state’s plan to expand the ownership base and encourage foreign direct investment.

"It is also part of the Fund's strategy to attract Arab and foreign investors and provide promising investment opportunities in various economic sectors, achieving the highest benefits for the Egyptian state, maximizing the exploitation of state-owned assets, and guaranteeing the rights of future generations."

The deal further reflects the confidence of the foreign investors in the Egyptian economy, Saeed added.

The acquisitions are in line with SEIC’s objective to invest in promising sectors in Egypt, which is considered one of the world’s emerging markets and one of the MENA region’s fastest-growing economies.

The Company stated that it will invest in priority sectors including but not limited to, infrastructure, real estate development, health care, financial services, food and agriculture, manufacturing, pharmaceutical and other opportunistic investments.

SEIC aims to support PIF’s efforts to explore new investment opportunities in the MENA region that support the creation of long-term strategic economic partnerships to achieve sustainable returns to maximize PIF's assets in line with Vision 2030.

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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)

Saudi Arabia has made history by uniting the 193 member states of the World Intellectual Property Organization (WIPO) to adopt the Riyadh Treaty on Design Law. This landmark achievement, realized after two decades of deliberation, underscores the Kingdom’s leadership in enhancing the global intellectual property system.

The announcement came at the conclusion of the Riyadh Diplomatic Conference on the Design Law Treaty, a rare event for WIPO, which has not held a diplomatic conference outside Geneva for more than a decade. It was also the first such event hosted in Saudi Arabia and the Middle East, representing the final stage of negotiations to establish an agreement aimed at simplifying and standardizing design protection procedures across member states.

Over the past two weeks, intensive discussions and negotiations among member states culminated in the adoption of the Riyadh Treaty, which commits signatory nations to a unified set of requirements for registering designs, ensuring consistent and streamlined procedures worldwide. The agreement is expected to have a significant positive impact on designers, enabling them to protect their creations more effectively and uniformly across international markets.

At a press conference held on Friday to mark the event’s conclusion, CEO of the Saudi Authority for Intellectual Property Abdulaziz Al-Suwailem highlighted the economic potential of the new protocol.

Responding to a question from Asharq Al-Awsat, Al-Suwailem noted the substantial contributions of young Saudi men and women in creative design. He explained that the agreement will enable their designs to be formally protected, allowing them to enter markets as valuable, tradable assets.

He also emphasized the symbolic importance of naming the convention the Riyadh Treaty, stating that it reflects Saudi Arabia’s growing influence as a bridge between cultures and a global center for innovative initiatives.

The treaty lays critical legal foundations to support designers and drive innovation worldwide, aligning with Saudi Arabia’s vision of promoting international collaboration in the creative industries and underscoring its leadership in building a sustainable future for innovators.

The agreement also advances global efforts to enhance creativity, protect intellectual property, and stimulate innovation on a broader scale.

This achievement further strengthens Saudi Arabia’s position as a global hub for groundbreaking initiatives, demonstrating its commitment to nurturing creativity, safeguarding designers’ rights, and driving the development of creative industries on an international scale.

The Riyadh Diplomatic Conference, held from November 11 to 22, was hosted by the Saudi Authority for Intellectual Property and attracted high-ranking officials and decision-makers from WIPO member states.