Saudi Wealth Fund Is Upbeat on Deals for Local Manufacturing

Yasir Al-Rumayyan said the PIF is in a “very advanced stage” of negotiating joint ventures as part of a partnership that could ease the path for foreign companies. — Yasir Al-Rumayyan said the PIF is in a “very advanced stage” of negotiating joint ventures as part of a partnership that could ease the path for foreign companies.
Photographer: Mohammed Al-Nemer/Bloomberg

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By Matthew Martin, Vivian Nereim, and Reema Al Othman

January 26, 2021 at 1:34 PM UTC

Updated on

January 26, 2021 at 2:41 PM UTC

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Saudi Arabia aims to agree on deals this year or next to expand local manufacturing, the head of the kingdom’s wealth fund, Yasir Al-Rumayyan, told a briefing in Riyadh.