China’s MSA Capital Signs Landmark MoU with Saudi Arabia’s Ministry of Investment (MISA)
Riyadh, Saudi Arabia, 29 January, 2024: In a landmark development for Asia to Saudi Arabia cross border business and innovation, MSA Capital via its emerging markets investment arm MSA Novo and the Ministry of Investment of Saudi Arabia (MISA) signed a memorandum of understanding to bolster economic cooperation and foster innovation in key sectors in the Kingdom of Saudi Arabia.
This strategic partnership, formalised by HE Khalid A. Al-Falih, Minister of Investment of Saudi Arabia, and Yazeed Al-Shammari, MSA Partner on its Saudi Innovation Initiative, seeks to bolster economic cooperation and foster innovation across strategic sectors in the Kingdom, such as logistics, financial technology, core technology, healthcare, robotics, and ecommerce. It also sets out to support Saudi companies in securing strategic global investments, particularly from Asian investors, while exploring cross border opportunities in the capital markets. The MoU also includes the development of Saudi Arabia’s venture capital ecosystem, facilitating joint ventures across sectors, and evaluating the establishment of MSA’s Regional Headquarters in Saudi Arabia.
UAE News 24/7 