The Saudi state investment fund wants to more than double its capital to 1.070 billion dollars in 2025. It is prioritizing the support and diversification of the Saudi economy hit by the Covid-19 crisis and too dependent on oil.
The Saudi sovereign wealth fund, the Public Investment Fund (PIF), wants to continue to grow despite the global health and economic crisis. This $ 400 billion fund aims to manage $ 1.070 billion by the end of 2025, and wants to prioritize the economic development of the kingdom as part of the project. Vision 2030 of Crown Prince Mohammed ben Salman. The share of investments made in the country will thus rise from 70% to 80% of its total capital over the next 5 years. Thirteen priority sectors have been defined: health, tourism, telecoms, food, leisure, defense, infrastructure… The fund is committed to investing 40 billion dollars locally per year by 2025 and to creating 1.8 million jobs .