{"id":367250,"date":"2024-05-27T16:15:22","date_gmt":"2024-05-27T19:15:22","guid":{"rendered":"https:\/\/anba.com.br\/?p=367250"},"modified":"2024-05-29T11:57:10","modified_gmt":"2024-05-29T14:57:10","slug":"saudi-fund-launches-group-to-boost-space-industry","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/saudi-fund-launches-group-to-boost-space-industry\/","title":{"rendered":"Saudi fund launches group to boost space industry"},"content":{"rendered":"\n<p>Riyadh \u2013 Saudi Arabia\u2019s Public Investment Fund (<a href=\"https:\/\/www.pif.gov.sa\/en\/\" target=\"_blank\" rel=\"noopener\">PIF<\/a>) on Monday (27) launched the Neo Space Group, or NSG, to work on the country\u2019s nascent satellite and space industry, its first investment in the sector. One of the world\u2019s largest sovereign wealth funds, the PIF has already invested heavily in sports, gaming and giga-projects including Neom, a futuristic megacity under construction in the desert.<\/p>\n\n\n\n<p>The NSG \u201caims to develop and enhance commercial space operations in Saudi Arabia, providing innovative satellite and space solutions locally and globally\u201d, the PIF said. \u201cThe establishment of NSG marks an important milestone in the development of the growing satellite and space sector in Saudi Arabia,\u201d Omar Al-Madhi, PIF\u2019s co-head of MENA Direct Investments, was quoted as saying in a statement.<\/p>\n\n\n\n<p><em>Read more:<\/em><br><a href=\"https:\/\/anba.com.br\/en\/saudi-group-announces-deal-for-105-airbus-planes\/\">Saudi group announces deal for 105 Airbus planes<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Saudi diversification<\/h2>\n\n\n\n<p>Under Crown Prince Mohammed bin Salman, the country has sought both to open up and diversify its oil-reliant economy. PIF has splashed billions on acquisitions intended to support diversification. The fund has also made high-profile investments in foreign firms including stakes in Uber, electric car maker Lucid and video game company Activision Blizzard. Domestic investments constitute the vast majority of its portfolio, however.<\/p>\n\n\n\n<p><strong>Reproduction is prohibited.<\/strong><\/p>\n\n\n\n<p><strong>Translated by Guilherme Miranda<\/strong><\/p>\n<div class=\"credits-overlay\" data-target=\".wp-image-367241\">\u00a9Athit Perawongmetha\/Pool\/AFP<\/div>","protected":false},"excerpt":{"rendered":"<p>PIF announced the launch of Neo Space Group to provide innovative satellite and space solutions locally and globally. This is another industry Saudi Arabia has sought to open up to diversify its economy.<\/p>\n","protected":false},"author":2345,"featured_media":367241,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[95],"tags":[49531,49532,49533,49534,9595,49530],"class_list":{"0":"post-367250","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-innovation","8":"tag-neo-space-group-2","9":"tag-nsg-2","10":"tag-satellite-industry","11":"tag-satellites","12":"tag-saudi-arabia-en","13":"tag-space-industry"},"wps_subtitle":"PIF announced the launch of Neo Space Group to provide innovative satellite and space solutions locally and globally. This is another industry Saudi Arabia has sought to open up to diversify its economy.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/367250","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2345"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=367250"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/367250\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/367241"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=367250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=367250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=367250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}