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Industry and Mineral Resources Minister Inaugurates Saudi Pavilion at IMARC in Sydney

The pavilion is part of the "Invest Saudi" program. SPA
The pavilion is part of the "Invest Saudi" program. SPA
    Asharq A-Awsat
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Industry and Mineral Resources Minister Inaugurates Saudi Pavilion at IMARC in Sydney

The pavilion is part of the "Invest Saudi" program. SPA
The pavilion is part of the "Invest Saudi" program. SPA

Minister of Industry and Mineral Resources Bandar Al-Khorayef has opened the Saudi Pavilion at the International Mining and Resources Conference (IMARC) held in Sydney, Australia between November 2 and 4 .

The pavilion is part of the "Invest Saudi" program with the participation of the Ministry of Industry and Mineral Resources, the Ministry of Investment, the National Industrial Development and Logistics Program (NIDLP), the Saudi Industrial Development Fund and the Industrial Center.

Saudi Arabia’s participation in IMARC highlights its continued efforts to improve the performance of the mining sector by facilitating access to geological data. It also sheds light on the most recent changes to the laws and legislation aiming to create an investment environment, lay foundations for sustainability and develop a mining sector that is based on integrated value chains in line with the Kingdom's Vision 2030.

It emphasizes the Kingdom's engagement as the country boasts a strategic location connecting the Middle East, Asia, Africa, and Europe. It also has sophisticated infrastructure and high domestic demand.

The Kingdom has all of the necessary capabilities to become a regional mining hub in order to meet its Vision 2030 objectives and attract quality investments in the mining sector.

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Saudi PIF Invests $200 Million in ETF Bond Fund

The fund is the first of its kind in Saudi Arabia to focus on fixed-income exchange-traded funds (ETFs). (Asharq Al-Awsat)
The fund is the first of its kind in Saudi Arabia to focus on fixed-income exchange-traded funds (ETFs). (Asharq Al-Awsat)
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Saudi PIF Invests $200 Million in ETF Bond Fund

The fund is the first of its kind in Saudi Arabia to focus on fixed-income exchange-traded funds (ETFs). (Asharq Al-Awsat)
The fund is the first of its kind in Saudi Arabia to focus on fixed-income exchange-traded funds (ETFs). (Asharq Al-Awsat)

State Street Global Advisors, a subsidiary of State Street Corporation, announced that Saudi Arabia’s Public Investment Fund (PIF) has invested SAR 750 million ($200 million) in the newly launched SPDR J.P. Morgan Saudi Aggregate Bond ETF.

According to a statement released by the company on Wednesday, this fund is the first of its kind in Saudi Arabia to focus on fixed-income exchange-traded funds (ETFs). It is listed in both the London Stock Exchange and Germany’s Xetra, offering investors the opportunity to track government and quasi-government bonds denominated in either the Saudi Riyal or the US Dollar, including sukuk (Islamic bonds).

This investment aligns with the objectives of Saudi Vision 2030, representing a significant step toward enhancing the international presence of Saudi Arabia’s financial markets and attracting foreign investments. The fund is available to investors across several European countries, including Austria, Denmark, France, Germany, and Italy.

Commenting on the investment, Yazid Al-Humaid, Deputy Governor and Head of MENA Investments at PIF, said: “The fund continues to create opportunities and enable access to diverse capital markets in the Kingdom. Investing in the first internationally listed Saudi fixed-income ETF underscores PIF’s commitment to deepening Saudi capital markets, attracting investors, and fostering partnerships across global financial centers.”

CEO of State Street Global Advisors Yi-Hsin Hung emphasized that the launch of the fund is a significant milestone in providing innovative opportunities for investors while contributing to Saudi Arabia’s economic growth.