ewpartners and the Chinese industrial hub Tianjin Binhai New Area have agreed to establish an $80 million investment fund at the Future Investment Initiative (FII) forum in Saudi Arabia.
The agreement was signed in the presence of the Public Investment Fund of Saudi Arabia (PIF) and its fund-of-funds platform Jada. The fund aims to bring industrial projects and technologies developed in China to Saudi Arabia and the Gulf region, and accelerate the modernization of local industry.
The new fund will strengthen cooperation in the fields of digital technologies, smart manufacturing, alternative energy and logistics, in line with the “Vision 2030” strategy.
