RIYADH: Digital technology, advanced manufacturing, and logistics are among the Saudi sectors set to benefit from an $80 million investment partnership between ewpartners and Chinese industrial hub Tianjin Binhai New Area.
Formalized in the presence of the Kingdom’s Public Investment Fund and its fund-of-funds platform Jada at the Future Investment Initiative conference in Riyadh, the move aims to introduce mature Chinese industrial projects and technologies into Saudi Arabia and the wider Gulf region.
This partnership directly supports Saudi Vision 2030 by leveraging Tianjin Binhai’s capabilities in alternative energy, smart manufacturing, and port logistics, combined with ewpartners’ network and investment expertise in the Middle East, according to a press release.
Jada CEO Bandr Mohammed Al-Homaly said: “Jada is committed to building a vibrant private capital ecosystem in Saudi Arabia, for example through bridging global expertise with local opportunities.”
He added: “The momentum we see from the partnership between ewpartners and Tianjin Binghai New Area, across logistics and technology for instance, reflects our shared dedication to Vision 2030 and to building a thriving private capital ecosystem in the Kingdom.”
