Saudi Arabia’s Public Investment Fund (PIF) has created Neo Space Group (NSG), a leader in the kingdom’s space industry. This was reported by the SpaceWatch.Global portal on May 29.
It should be noted that NSG will strengthen Saudi Arabia’s space and satellite programs by developing “Local capabilities and strengthening their strategic position in the growing global space economy.”
NSG will invest in technology, startups and smart products in Saudi Arabia’s space sector.
Additionally, NSG will contribute to the development and implementation of emerging technologies in the space industry through its four specialized segments: satellite communications, Earth observation and remote sensing, satellite navigation and Internet of Things, and a venture capital fund focused on satellites and space. .
Source: Rossa Primavera
I am Michael Melvin, an experienced news writer with a passion for uncovering stories and bringing them to the public. I have been working in the news industry for over five years now, and my work has been published on multiple websites. As an author at 24 News Reporters, I cover world section of current events stories that are both informative and captivating to read.