Bloomberg: The Saudi Agreement with Lenovo is a financing model for investment

Bloomberg: Saudi Arabia handles ‘Lenovo’ form for Financing for Investment in Investment Kingdom Bloomberg, Lenovo’s banner in one of his stores -Source: Bloomberg prepares Saudi Arabia to invest two billion dollars in the Lenovo group, in the latest example of the kingdom’s strategy to attract the cash. Alat, a unit belonging to the Saudi public investment fund, said it would invest in convertible bonds on shares issued by Lenovo. On the other hand, the Chinese computer manufacturer will open a manufacturing facility and establish a local headquarters in Saudi Arabia. The kingdom expects its investments in “Lenovo” to provide 15 thousand direct jobs locally, and to add 10 billion to the gross domestic product by 2030. The attribution of foreign investment has attracted foreign investment an important goal for Saudi Arabia since Prince Muhammad bin Salman became the Crown Prince, and to begin his plan to diversify the oil -based economy. Investors have so far not shown sufficient enthusiasm against the future opportunities of the Kingdom, and the money has not flown as expected. Currently, the government is increasingly using the Public Investment Fund, which is about a trillion dollars to invest in foreign companies, but provided it is invested in the kingdom in return. It seems that the company “Ita”, with its liquidity of $ 100 billion to invest, is ready to become a force that can pay and achieve these goals. It can provide funds to companies that want to reach their ambitions to make the Kingdom a huge center in the manufacture of electronics. ‘Machines’ announced a series of offers earlier this year of a series of transactions, including a partnership with Softbank and a Chinese company to manufacture monitoring equipment to establish industrial facilities in the local market. Saudi funds have already begun to make a fundamental change in other industries by launching similar promises. Earlier this year, the BlackRock award was $ 5 billion based on the American Asset Management Company established a team in Riyadh to manage and invest these funds in the Middle East. ‘Make’ also pumped investments at the Lucid Electric Industry Company (Lucid), which urged the latter to open a factory on the western coast of the kingdom. Stories classifications can interest you in this most read article