The Governor of the Saudi Public Investment Fund (PIF), Yasir Al-Rumayyan, and the President of France, Emmanuel Macron, opened PIF’s subsidiary company office in Paris.
On Wednesday, Al-Rumayyan and Macron attended the opening ceremony, alongside high dignitaries and business officials from Saudi Arabia and France. The opening ceremony coincided with the annual “Choose France” event hosted in Paris.
By opening a new subsidiary company office in Paris, the PIF expands its global footprint and strengthens ties with France, a major international market. The move also underscores the PIF’s commitment to enhancing engagement with local partners, key businesses and institutional investors.
Importantly, the new subsidiary company office will foster the PIF’s partnerships across Europe. The PIF invested $84.7 billion in Europe, between 2017 and 2024, injecting $52 billion to the continent’s GDP and generating more than 254,000 direct and indirect jobs across Europe.
France’s share of these investments amounted to $8.6 billion, adding $4.8 billion to the country’s GDP and creating 29,000 direct and indirect jobs for the French economy.
Furthermore, the new office in Paris aligns with the PIF’s strategy to propel global economic growth and spearhead Saudi Arabia’s economic transformation.
The Paris office adds to the PIF’s subsidiary company offices in New York, London, Hong Kong and Beijing. The PIF also has around 220 portfolio companies, which contributed to creating more than 1.1 million jobs across the Kingdom and worldwide.
