PIF: Fund’s Assets to Grew to 2.87 Trillion Riyals by End of 2023
The Public Investment Fund (PIF) announced a 29% increase in its assets to 2.87 trillion riyals at the end of 2023, with net cash returns reaching 42 billion riyals by the end of the same year.
As highlighted in the report, this figure marks a significant increase from the previous year’s total, reflecting the fund’s aggressive expansion strategy. The report also noted that the diversification of investments spans multiple sectors, positioning the fund for sustainable growth.
The fund also seeks to diversify the economy by reducing reliance on oil revenue, promoting sustainable development in various industries. It actively invests in sectors such as technology, renewable energy, and tourism to foster innovation and long-term growth.
Collaborating with international partners, the fund strives to attract foreign investments that contribute to the Kingdom’s economic transformation. Through strategic initiatives, it plays a crucial role in enhancing Saudi Arabia’s global economic standing and achieving the Vision 2030 objectives.
Related Topics :
CONCACAF, PIF Launch Partnership to Promote Soccer in America
PIF Launches E360 Partnership with Formula E, Extreme E, E1
Saudi PIF Private Sector Forum Fosters New Opportunities
PIF, KACST Sign Memorandum of Cooperation in Construction
