Saudi Arabia launches Events Investment Fund, SPA reports

A Saudi money exchanger wears gloves as he counts Saudi riyal currency at a currency exchange shop in Riyadh, Saudi Arabia March 10, 2020. Image used for illustrative purpose
Reuters Images/Ahmed Yosri

The Events Investment Fund (EIF) will focus on developing and increasing direct foreign investment opportunities for a contribution of $7.45 billion to the country's gross domestic product by 2045, SPA added

Yomna Ehab, Reuters News

January 17, 2023

PHOTO
A Saudi money exchanger wears gloves as he counts Saudi riyal currency at a currency exchange shop in Riyadh, Saudi Arabia March 10, 2020. Image used for illustrative purpose

DUBAI - Saudi Arabia has launched an investment fund to support the culture, tourism, entertainment and sports industries, state news agency SPA reported on Tuesday.

The Events Investment Fund (EIF) will focus on developing and increasing direct foreign investment opportunities for a contribution of 28 billion riyals ($7.45 billion) to the country's gross domestic product by 2045, SPA added.

($1 = 3.7559 riyals)

(Reporting by Yomna Ehab Writing by Clauda Tanios Editing by Nadine Awadalla and David Goodman )

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