Hong Kong Monetary Authority and Saudi Arabia’s Public Investment Fund

The Hong Kong Monetary Authority (HKMA) and the Public Investment Fund (PIF) of Saudi Arabia have signed a memorandum of understanding (MoU) to establish a $1 billion investment fund. The fund aims to invest in sectors such as manufacturing, renewables, fintech, and healthcare, particularly in companies with connections to Hong Kong and the Greater Bay Area. This strategic collaboration supports the localisation of these industries within Saudi Arabia, creating high-skilled jobs and fostering economic growth. The initiative aligns with Saudi Arabia’s Vision 2030 and reinforces Hong Kong’s status as a leading global financial hub. The partnership is set to enhance foreign direct investment through Hong Kong, providing companies with opportunities to internationalize and access attractive investment prospects in Saudi Arabia.