2017

The Council launched twelve executive programs from 2018 to 2020 to contribute to the achievement of the strategic objectives of Saudi Arabia's Vision 2030. One of its most prominent programs is the Public Investment Fund program, which aims to support the Fund to become one of the largest sovereign wealth funds in the world by raising its assets to 1.5 trillion riyals by 2020. Despite the effects of the pandemic on the world's economy in that period, the Fund has strongly achieved its 2020 target, by changing all its orientations in the quality of investments, which relied on benefiting from untapped government assets, working to launch new sectors, building economic partnerships, and localizing technologies.

Where it became the Fund's current objectives:

With a pivotal role in realizing Vision 2030, Saudi Arabia’s economic transformation program, PIF’s ambitious strategy is propelling the national economy with the impact felt well beyond Saudi borders.

PIF is the engine driving the transformation of Saudi Arabia’s economy. Passionate about leading local economic development, localizing cutting-edge technology and knowledge, PIF is expanding its portfolio of international assets, investing in global sectors and markets by building strategic partnerships and launching initiatives to contribute to the goals of Vision 2030.

With a vision that makes it a global investment powerhouse and the world’s most impactful investor, enabling the creation of new sectors and opportunities that will shape the future global economy, while driving the economic transformation of Saudi Arabia.

Investment Pools:

PIF is developing a portfolio of high-quality domestic, regional and international investments, which today includes about 200 investments   diversified across sectors, geographies. Joining forces with top-tier global strategic partners and renowned investment managers, PIF acts as the Kingdom's main investment arm to deliver a strategy concentrated on achieving attractive financial returns and long-term value for Saudi Arabia.

The Fund developed six investment portfolios after reviewing the assets under its management, four of which are local, two global, and they are:

• International Diversified Pool
• International Strategic Investments
• Saudi Giga-Projects
• Saudi Real Estate & Infrastructure Development
• Saudi Sector Development
• Saudi Equity Holdings

Sources of funding:

This large volume of investments needs diversified sources of financing, including four main sources:

1-Capital Injections from the Government

2-Government Assets Transferred to PIF

3-Loans and Debt Instruments

4-Retained Earnings from Investments

Fund achievements:

Since its association with the Council for Economic Affairs and Development in 2015, the Public Investment Fund has made significant achievements. Especially after the launch of the Public Investment Fund program during its period between 2018-2020, during which it worked to empower the objectives of the vision, and to achieve a precise impact at the local and global levels, notably:

• Since the Fund's transformation, its assets have increased to 2.3 trillion rials by the end of the first quarter of 2022, quadrupling compared to 2015.

• The Public Investment Fund has established 55 companies in 13 strategic sectors with the aim of boosting the growth of the Fund's assets by launching new sectors to diversify the economy of Saudi Arabia and settle and invest in the promising sectors, where they have contributed to the creation of more than 500,000 direct and indirect jobs.