The Saudi Company for Technological Development & Investment (TAQNIA) is a governmental company owned by the General Investment Fund, the investment arm of the Saudi Government.
TAQNIA was established by a royal resolution No. (M / 47) dated 20/07/1432 H, based on Council of Ministers Resolution No. (217) dated 18/7/1432 H.
TAQNIA aims to invest the strategic outputs of research and applied economic programs including water, water desalination,oil and gas, petrochemicals, nanotechnologies, biotechnologies, information technologies, telecommunication and electronics technologies, space technologies, power, environment, security technologies, advanced industries in KACST as well as other research organizations and individual initiatives, and transfer the technologies to Saudi Arabia.
TAQNIA will represent the technological investment arm of Saudi Government and take part in diversifying the national economy under the umbrella of the kingdom’s plan to move to a knowledge economy.
TAQNIA’s headquarters will be based in Riyadh with worldwide offices to be located in America, Europe and Asia.
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Riyadh, December 2011: The first board meeting of the Saudi Company for Technological Development and Investment (TAQNIA) was held today in the Saudi capital. The meeting included discussions about the company’s agenda and appointing specialized committees in tandem with the huge effort to complete the process of establishing the company while meeting the administrative and financial regulations based on the requirements of capital market authorities and the governance of global investment companies.
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