The Saudi Investment Minister, Khalid Al-Falih, noted that hosting mega events such as World Cup 2034 and Expo 2030 shifted investment priorities in the Kingdom, reported Al-Arabiya.
Al-Falih’s remarks came during the PIF Private Sector Forum 2026, taking place on February 9-10 at King Abdul Aziz International Conference Center in Riyadh.
PIF Growth
Speaking at a ministerial session at the PIF Private Sector Forum 2026, Al-Falih said that Saudi Arabia has reached the midpoint of its goal to have investment account for 30% of the national economy by 2030.
Importantly, the Saudi Investment Minister noted that the PIF’s restructuring included bold, non-traditional decisions, adding that some projects have been deferred until feasibility reviews are complete.
Al-Falih stated that the PIF has achieved unprecedented, steady growth, starting with SAR 600 billion in investments and reaching approximately SAR 4 trillion. A significant portion of these investments was directed toward stimulating various sectors within the Kingdom, including bold projects such as “NEOM” and “The Line.”
The Saudi Minister confirmed that the PIF adheres to global best practices in governance, maintaining a strategic balance between board oversight and executive leadership.
Saudi Shifting Priorities
Al-Falih stated that plans are adjusted in response to changes in project feasibility following detailed studies, emphasizing that all investment bodies must manage their available capital within defined boundaries.
However, new priorities emerged during that period, such as the FIFA World Cup 2034, which requires Saudi Arabia to build several facilities alongside stadiums, as well as integrated logistics services, Al-Falih said.
Prior to that, there were other projects, including Expo 2030, the completion of the King Salman International Airport project, and the expansion of King Khalid International Airport.
In light of this, the Saudi Investment Minister pointed out that the decline in feasibility for certain projects, such as The Line, necessitates delaying some developments while accelerating others based on strategic priority.
AI Leap
Furthermore, Al-Falih emphasized that the PIF pivot to artificial intelligence (AI) was necessary at this stage, given the hundreds of billions of dollars being funneled into the industry worldwide. He also highlighted that Saudi Arabia’s AI investments are positioned to create a cross-sector impact.
The Saudi Minister added that the PIF’s efficiency and agility allows it to effectively adapt to global, regional, and local shifts, technological advancements, and evolving feasibility requirements.
Furthermore, he indicated that AI has driven the significant leap made by the PIF, an activity that has witnessed unprecedented progress in just two years.
He stated that the short-to-medium-term plan launched by the PIF’s AI company HUMAIN involves a capacity of 3 to 6 gigawatts. Each gigawatt requires an investment of between $30 billion and $50 billion (SAR 150 billion to 180 billion).
While some of these investments will flow abroad for the purchase of chips and other components, the majority of the capital will be injected into the local economy, Al-Falih said.
