China’s MSA Capital Signs Landmark MoU with Saudi Arabia’s Ministry of Investment
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.
HE Al-Falih expressed his enthusiasm about this collaboration: “Our collaboration with MSA Capital underlines our resolve to establish the Kingdom as a global investment powerhouse and a leading hub for technological advancement. MSA have shown significant commitment to the Kingdom for over the last 5 years and we are excited to expand this partnership. We are committed to leveraging this alliance to catalyse significant strides in the KSA’s fintech and tech sectors, paving the way for a new era of economic prosperity aligned with Vision 2030’s ambitious objectives.”
Jenny Zeng, founder and managing partner of MSA Capital, echoed these sentiments: “Our engagement with MISA is a critical step in expanding MSA Capital’s global footprint, especially as Saudi Arabia’s vibrant economy and forward-looking vision present unique opportunities for our portfolio companies. We are thrilled to explore these new horizons and contribute to the Kingdom’s innovative ecosystem.”
MSA have been arguably the most active global institutional investor systematically investing, venture building and establishing JVs in Saudi Arabia over the last 5 years. The firm has 3 partners based in its Riyadh office and has invested over $45 million into 9 companies operating in the Kingdom. MSA have facilitated the market entry of 19 global portfolio companies into Saudi Arabia. The firm has over 250 global portfolio companies and expect to significantly expand the number of them operating in KSA via this MOU.
Last Updated on 4 weeks by Middle East News 247