PIF announces launch of Aseer Investment Company

logo of PIF

The Public Investment Fund (PIF) announced today, Dec. 1, the establishment of Aseer Investment Company (AIC) to operate as its investment arm in the Aseer region of Saudi Arabia. The new company will promote and stimulate local and foreign direct investment to develop and transform the region into a year-round tourism destination.

In a statement received by Argaam, the PIF said that AIC will unlock a wide range of investment opportunities for domestic and international investors across number of sectors including tourism, hospitality, healthcare, sports, education, food, and many other fast-growing domestic industries, to contribute to fostering public-private partnerships, creating jobs for the local community, and promoting the region’s tourism and attractive investment opportunities.

The establishment of the company is in line with PIF’s strategy to unlock the capabilities of promising sectors in Saudi Arabia, support the country, and in line with Asir’s region position as a leading investment destination.