Saudi Arabia's Public Investment Fund launches Neo Space Group, its first investment in the satellite & space industry, to support economic diversification.
Saudi Arabia's Public Investment Fund (PIF) launches Neo Space Group (NSG), focusing on country's satellite & space industry, its first investment in the sector. NSG aims to develop & enhance commercial space operations, invest in localisation, tech, start-ups, and knowledge in space & satellite sector. This move supports Saudi Arabia's efforts to diversify its oil-reliant economy under Crown Prince Mohammed bin Salman.
May 27, 2024
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