PIF launches fund for Aseer region

Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has launched an investment fund designed to promote the Aseer region as a tourist destination.

The Aseer Investment Company is mandated to operate and stimulate local and international investment in the region.

It will target a number of sectors, including tourism and hospitality, health and sports, education and food.

The fund will also look to forge links between the state-sponsored investment fund and the private sector.

“The aim is to transform the region into a global tourist destination that attracts visitors from around the world, in line with the objectives of the Kingdom’s Vision 2030,” said Raid Ismail, the PIF’s head of direct investments for the Mena region.

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