HKMA, PIF to anchor $1bn fund to help HK, GBA firms boost Mid-East presence

Hong Kong Monetary Authority (HKMA) signed a deal with Saudi Arabia’s Public Investment Fund (PIF) to work towards jointly anchoring a $1 billion investment fund in another sign of deepening financial relations between the Middle East and Hong Kong.

 

The investment fund will support companies seeking localisation in the Middle East markets.

 

The investment fund will target Hong Kong companies and mainland companies based in the Greater Bay Area (GBA). 

 

OPENING UP

 

The fund will work as a 'stepping stone for such companies to go out and open their Middle Eastern markets,' Eddie Yue, HKMA's chief executive told reporters on November 4.