The Public Investment Fund (PIF), Saudi Arabia's sovereign wealth fund, is pleased to announce the signing of a Memorandum of Understanding (MoU) with OYO, India's largest hospitality company. The MoU supports the exploration of co-investment and cooperation opportunities between the two parties, in line with PIF's mandate to diversify Saudi Arabia's economy through the localization of skills, creation of jobs and development of new sectors. OYO operates an extensive international network of hotels and represent a strong international partner for PIF as it develops Saudi Arabia's tourism and hospitality industries. It is also a leading provider of some of the most advanced hospitality technology in the world, further supporting the localization of technology and know how in the Kingdom.
