SMBC further pursues business in Saudi Arabia
During the past week, Sumitomo Mitsui Banking Corporation has signed MOUs with the National Infrastructure Fund of the Kingdom of Saudi Arabia, as well as with the Saudi Investment Promotion Authority.
Signing of a Memorandum of Understanding with the National Infrastructure Fund of the Kingdom of Saudi Arabia
Sumitomo Mitsui Banking Corporation (SMBC) and the National Infrastructure Fund of the Kingdom of Saudi Arabia have signed a Memorandum of Understanding to support infrastructure development projects in the Kingdom.
Infra is a government fund that seeks to contribute to accelerating the delivery of critical infrastructure development projects within the Kingdom in partnership with the private sector. This is achieved through the provision of innovative financing and non-financing solutions that support sustainable development in line with the Kingdom’s economic and social objectives.
SMBC has provided financing support for many infrastructure development projects in cooperation with government agencies and leading companies in the Kingdom. Through this MOU, SMBC intends to further contribute to the development of both countries’ economies by strengthening support for infrastructure development in Saudi Arabia, where parties from both countries are expected to enhance their collaborations and grow significantly.
Signing of a Memorandum of Understanding with the Saudi Investment Promotion Authority (SIPA)
Sumitomo Mitsui Banking Corporation (SMBC) and the Saudi Investment Promotion Authority (SIPA) have signed a Memorandum of Understanding regarding investment promotion between the Kingdom of Saudi Arabia and Japan.
SIPA is supporting the Kingdom’s investment promotion activities carried out by government entities and the private sector. It also aims to strengthen collaboration with strategic partners to promote and highlight the Kingdom as a premier destination for investments.
SMBC has been working to support companies operating in Saudi Arabia in cooperation with the Government and government agencies of the Kingdom of Saudi Arabia. Through this MOU, SMBC intends to further strengthen its provision of market information and support for business expansion to customers wishing to expand their business in the Kingdom, thus contributing to the economic development of the Kingdom of Saudi Arabia and Japan.
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