Saudi Energy Ministry Underlines Joint Cooperation with NEOM

Saudi Energy Minister Prince Abdulaziz bin Salman. (SPA)
Saudi Energy Minister Prince Abdulaziz bin Salman. (SPA)
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Saudi Energy Ministry Underlines Joint Cooperation with NEOM

Saudi Energy Minister Prince Abdulaziz bin Salman. (SPA)
Saudi Energy Minister Prince Abdulaziz bin Salman. (SPA)

Saudi Energy Minister Prince Abdulaziz bin Salman revealed Saturday that efforts are continuing to be poured into cooperation with NEOM to achieve national aspirations.

“We in the energy system support cooperation with the NEOM company, and we are keen to work for this cooperation to be an essential element in the success of the NEOM project and achieve its goals, which are, in the end, an integral part of the comprehensive national development goals,” he said at the opening of a joint workshop with NEOM.

The minister stressed his confidence that the goals of both the Energy Ministry and NEOM are identical.

The Ministry, with its experience, will work to support NEOM, which is one of the most prominent projects of the Kingdom's Vision 2030.

NEOM is particularly ambitious when it comes to the energy sector. Among its projects is establishing a mix of solar and wind energy power plants that place NEOM on the map of sustainable energy.

NEOM CEO Nadhmi Al-Nasr said the Energy Ministry and its technical apparatus are a main pillar in achieving NEOM's ambition to be the first destination in the world that depends entirely on renewable energy, and to be one of the leading exporters of clean energy worldwide.



Saudi PIF, Hong Kong Monetary Authority Sign MoU on Investment Fund

The MoU was signed at FII 8th Edition in Riyadh. SPA
The MoU was signed at FII 8th Edition in Riyadh. SPA
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Saudi PIF, Hong Kong Monetary Authority Sign MoU on Investment Fund

The MoU was signed at FII 8th Edition in Riyadh. SPA
The MoU was signed at FII 8th Edition in Riyadh. SPA

The Public Investment Fund (PIF) and the Hong Kong Monetary Authority (HKMA) signed on Thursday a memorandum of understanding (MoU) to work towards jointly anchoring a new investment fund, with a target size of $1 billion.

The MoU was signed at FII 8th Edition in Riyadh.

Under the MoU, the fund would explore investment in manufacturing, renewables, fintech, and healthcare, supporting the localization of companies connected to Hong Kong and the Greater Bay area in Saudi Arabia. It would create highly skilled local jobs and drive economic growth by fostering regional champions in the target sectors. It would reinforce Hong Kong’s position as one of the world’s leading financial hubs, leveraging its diverse talent pool, efficient financial infrastructure and deep liquidity. The signing of this MoU is a new milestone that underlines the economic ties between two leading institutions: PIF and HKMA.

The proposed new fund aligns with PIF’s economic diversification and sustainability strategy.

This partnership has the potential to drive shared prosperity by investing in industries that will shape future economies. It combines HKMA’s long-term investment expertise with PIF’s strategy for the target sectors.

The new fund would promote foreign direct investments via Hong Kong, providing a platform for companies to internationalize their businesses and access attractive investment opportunities in Saudi Arabia.