Hassana investment Company and Azerbaijan’s Sovereign Wealth Fund signed a Memorandum of Understanding for cooperation, allowing options for co-investment and asset transfers in key areas such as private equity, infrastructure, and real estate.

Beta Lab in partnership with the Ministry of Investment of Saudi Arabia (MISA), the Research, Development, and Innovation Authority (RDIA), Hong Kong Science and Technology Park (HKSTP), and Telkom Indonesia announced a $300-million growth fund to connect the Kingdom’s start-up ecosystem to global expertise and accelerate tech talent.
 
RIYADH, SAUDI ARABIA – Under the umbrella of Invest Saudi, an investment ceremony was led by HE Khalid Al-Falih, Minister of Investment, which saw the signing of two major agreements during Day 1 of the 8th edition of the Future Investment Initiative (FII) in Riyadh. 
 
Hassana Investment Company and the State Oil Fund of the Republic of Azerbaijan (SOFAZ) signed a Memorandum of Understanding (MoU) to explore collaborative investment opportunities within the Kingdom of Saudi Arabia. The MoU sets the groundwork for strategic cooperation between the two entities, allowing them to investigate options for co-investment and asset transfers in areas such as private equity, infrastructure, and real estate.
 
Saudi investment firm Beta Lab launched a $300-million fund in partnership with the Ministry of Investment of Saudi Arabia (MISA), the Research, Development, and Innovation Authority (RDIA), Hong Kong Science and Technology Park (HKSTP), and Telkom Indonesia. These strategic partnerships highlight the commitment to fostering cross-border innovation and collaboration between two of the world’s most dynamic emerging markets.
 
This initiative also aims to bolster a resilient technology landscape in MENA and Southeast Asia, particularly between Saudi Arabia and Indonesia, in alignment with the objectives of Saudi Vision 2030. By emphasizing research and development, the fund is poised to create high-value jobs and stimulate economic growth. This initiative underscores a mutual commitment to advancing technology and sustainability while fostering cross-border collaborations that expand investment opportunities.
 
The Ministry of Investment (MISA) has been actively involved in FII8, with MISA hosting a workshop on opportunities in the Kingdom’s financial sector and senior executives, including HE the Minister of Investment, speaking on key panels on the conference’s main plenary as well as at high-level summits on Middle East-Africa relations and female economic empowerment.
 
The Kingdom’s growth in venture capital has come alongside a broader expansion in investment. Gross fixed capital formation has grown nearly 75% since 2017 to $297bn in 2023, while FDI inflows have trebled to $26-billion over the same period, meaning both measures are ahead of the targets established in the Kingdom’s National Investment Strategy. 
 
This growth has in part been driven by a number of pro-business measures in recent years, including the Civil Transactions Law, Private Sector Participation Law, Companies Law, Bankruptcy Law, Special Economic Zones and most recently an Updated Investment Law.
 
Media Contact 
misa@consulum.com
 
About the Ministry of Investment
 
The rapid economic growth and diversification of Saudi Arabia’s economy under its Vision 2030 economic growth and diversification blueprint is unlocking foreign direct investment (FDI) opportunities at an unprecedented pace. The Ministry of Investment of Saudi Arabia (MISA) is facilitating access to these opportunities by nurturing a vibrant cross-government investment ecosystem. 
 
MISA coordinates across the Saudi government to create a competitive investment environment that provides stability and clarity for investors. It does so by spearheading business friendly policies and regulatory reforms, creating investment incentives, facilitating investment data, opening investment opportunities across diverse sectors, and supporting Saudi companies to partner with and attract investment from foreign counterparts.
 
MISA is also responsible for overseeing the implementation of Saudi Arabia’s National Investment Strategy (NIS), an ambitious plan launched in October 2021 to make private sector investors – both local and international – true partners in development, with state investment helping to de-risk, enable and ‘crowd-in’ investment. 
 
For more information on MISA, please visit our website or connect with #MISA on Twitter and LinkedIn.
 
About Invest Saudi and the Saudi Investment Promotion Authority
 
The Saudi Investment Promotion Authority (SIPA) is the entity responsible for attracting foreign direct investment into the country. As the primary contact for investors, SIPA provides essential information and comprehensive support to streamline the investment process in the Kingdom. On our Invest Saudi platform and through more than a dozen representative offices around the world, Saudi Arabia communicates exciting investment opportunities across sectors including: 

• Agriculture & food processing
• Chemicals
• Energy
• Real estate
• ICT
• Healthcare & life sciences
• Financial services
• Environment services
• Transport & logistics
• Human capital innovation
• Industrial & manufacturing
• Mining & metals
• Pharma & biotech
• Tourism & quality of life
• Aerospace & defense
 
For more information on Invest Saudi, please visit our website or connect with #InvestSaudi on Twitter and LinkedIn.