Riyadh – Mubasher: Saudi Arabia on Wednesday announced signing seven agreements to launch investment funds in the oil-rich kingdom.
The first agreement was signed with Deraya Ventures at a value of SAR 60 million ($16 million), at the sidelines of the Financial Sector Conference (FSC) held in Riyadh.
A SAR 500 million deal was also signed with the Saudi Venture Capital Investment Company (SVCIC) as part of efforts to prop up the private sector.
The two-day event is organised by the Saudi Arabian Monetary Authority (SAMA), the Capital Market Authority (CMA), and the finance ministry with the participation of around 2,000 local and global business and finance experts.
