- ADQ and State Capital Investment Corporation (SCIC), a sovereign wealth fund owned by the Government of Vietnam, today announced the signing of a Memorandum of Understanding (MoU) to establish a framework for collaboration in key sectors of mutual interest in the Southeast Asian country.
- As part of the agreement, both entities will collaborate to identify and assess potential co-investment opportunities that support Vietnam’s economic ambitions and align with its strategic development objectives.
- Investments and projects worth over $14.9 billion were announced in the artificial intelligence sector, solidifying Saudi Arabia’s role as a key global player in shaping the digital future. The announcements were made on the first day of the LEAP 2025 Tech Conference at the Riyadh Exhibition and Convention Center on Sunday.
- Inaugurating the conference, Minister of Communications and Information Technology Abdullah Alswaha announced the huge investments.
- The Sultanate of Oman’s embassy in New Delhi, the Republic of India, on Thursday hosted interactive roundtable meetings to explore investment opportunities between the two countries in various vital sectors, such as food, pharmaceuticals, medical products, agriculture, information technology, petrochemicals and energy.
- The meetings aim to boost economic and investment cooperation. Several officials, business-people and economic experts took part in the meetings.
- Award-winning Omani climate tech startup 44.01 has received an additional $5 million in Series A investment from Norwegian sovereign investor Nysn? Climate Investments and MENA-focused VC fund Jasoor Ventures, bringing the total Series A fundraise to $42 million.
- The Series A round was led by Equinor Ventures in July 2024 with Shorooq Partners in the UAE, as well as (in alphabetical order) Air Liquide Venture Capital (ALIAD), Alumni Ventures, Amazon’s Climate Pledge Fund, Climate Investment, Innovation Development Oman, Planet A Ventures, Salica Oryx Fund, Siemens Financial Services, Sumitomo Corporation and several other investors. Existing investors including Breakthrough Energy Ventures also recommitted to 44.01’s technology by participating in the round.
