Saudi Arabia’s PIF Establishes Aseer Investment Company

Aseer Investment Company will unlock a wide range of investment opportunities for domestic and international investors. (Public Investment Fund)
Aseer Investment Company will unlock a wide range of investment opportunities for domestic and international investors. (Public Investment Fund)
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Saudi Arabia’s PIF Establishes Aseer Investment Company

Aseer Investment Company will unlock a wide range of investment opportunities for domestic and international investors. (Public Investment Fund)
Aseer Investment Company will unlock a wide range of investment opportunities for domestic and international investors. (Public Investment Fund)

The Saudi Public Investment Fund announced on Thursday the establishment of Aseer Investment Company (AIC) to operate as its investment arm in the Aseer region, south of Saudi Arabia.

The new company will promote and stimulate local and foreign direct investment to develop and transform the region into a year-round tourism destination.

AIC will unlock a wide range of investment opportunities for domestic and international investors across a number of sectors, including tourism, hospitality, healthcare, sports, education, food, and many other fast-growing domestic industries.

It will contribute to fostering public-private partnerships, creating jobs for the local community, and promoting the region’s tourism and investment opportunities.

Raid Ismail, Head of Direct Investments for the Middle East and North Africa at PIF said: “AIC aims to become a leading facilitator of broad-ranging investment opportunities in Aseer.”

AIC will promote the region’s rugged mountains, stunning nature, and storied culture, preserve its ancient history and heritage, and transform it into a world-class tourist destination for visitors from across the globe in line with PIF’s strategy and Vision 2030, Ismail added.

The company’s establishment comes in line with PIF’s strategy to unlock the capabilities of promising sectors in the Kingdom and support the country. It also comes in line with the Aseer region’s position as a leading investment destination.



Dell Drives Digital Transformation in Saudi Arabia Through 3 Decades of Innovation

Dell logos are seen at its headquarters in Cyberjaya, outside Kuala Lumpur in this September 4, 2013 file photo. REUTERS/Bazuki Muhammad/Files Purchase Licensing Rights
Dell logos are seen at its headquarters in Cyberjaya, outside Kuala Lumpur in this September 4, 2013 file photo. REUTERS/Bazuki Muhammad/Files Purchase Licensing Rights
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Dell Drives Digital Transformation in Saudi Arabia Through 3 Decades of Innovation

Dell logos are seen at its headquarters in Cyberjaya, outside Kuala Lumpur in this September 4, 2013 file photo. REUTERS/Bazuki Muhammad/Files Purchase Licensing Rights
Dell logos are seen at its headquarters in Cyberjaya, outside Kuala Lumpur in this September 4, 2013 file photo. REUTERS/Bazuki Muhammad/Files Purchase Licensing Rights

Saudi Arabia is leading the charge in digital transformation, with Dell playing a key role in the Kingdom’s technological growth over the past three decades.

The partnership between Dell and Saudi Arabia dates back to the early 1990s, and in the past 34 years, Dell has become a cornerstone of the kingdom’s digital infrastructure.

Adrian McDonald, President of Dell Technologies for Europe, the Middle East, and Africa, reflected on the deepening of this relationship, highlighting Dell’s integration into Saudi society.

The company has been instrumental in supporting local businesses, government projects, and education initiatives, particularly by offering IT training programs in collaboration with leading universities and facilitating exchange programs that bring Saudi youth to the US for advanced training.

Dell aims to localize as many of these tech skills as possible, recognizing the growing demand for technology expertise in the future.

The launch of Saudi Vision 2030 has created a fertile environment for technological innovation.

McDonald revealed to Asharq Al-Awsat that Dell has expanded its operations over the past 18 months, including the establishment of its first integration and logistics center in Dammam, which handles up to 600,000 units annually to meet increasing customer demand.

The Dammam center also houses a secondary manufacturing plant to customize Dell servers to meet specific needs.

The facility prepares servers for deployment, reducing lead times and improving customer satisfaction. Additionally, Dell has moved its flat-panel display center to the Dammam facility, allowing for faster delivery times, which enhances operational efficiency.

This new center is part of Dell’s commitment to strengthening Saudi Arabia’s information and communications technology ecosystem and is the company’s fifth such facility in the Europe, Middle East, and Africa region, reinforcing its support for Vision 2030.

As Saudi Arabia positions itself as a leader in artificial intelligence (AI), Dell plays a critical role in this transformation.

McDonald highlighted the rapid changes in the AI sector, emphasizing Saudi Arabia’s goal to become a global leader in AI.

Dell’s investments are not just aimed at supporting local businesses but also at helping position Saudi Arabia as a global center for AI development.

Dell’s AI-powered solutions are transforming various industries, from finance to healthcare, where they are reshaping processes and driving innovation.

Looking forward, McDonald is optimistic about Saudi Arabia’s potential to become a regional and global hub for AI services.

He pointed out that the kingdom has taken a leadership role in building platforms for growth, with the resources and ambition to drive transformative change in the coming years.