The value of private sector investments in the Public Investment Fund (PIF) portfolio companies and projects has reached SAR96 billion ($25.6 billion) as of the third quarter of 2023, said the Governor of the sovereign fund Yasser Al-Rumayyan.
 
“The private sector plays an important role as an investor in PIF’s projects and portfolio companies,” he told the 2024 PIF Private Sector Forum in Riyadh on Tuesday.
 
“Direct investments from the private sector between 2021 to the end of the third quarter of 2023 amounted to more than SAR 96 billion. The programmes and initiatives launched in last year’s edition of the PIF Private Sector Forum contributed to strengthening the partnership with the private sector,” he added.
 
Al-Rumayyan added that the PIF continues to drive economic transformation in Saudi Arabia by focusing on strategic sectors.
 
Since 2017, the fund has established 93 companies, generating more than 644,000 direct and indirect jobs across promising sectors. 

Saudi Vision 2030 aims to raise the private sector’s contribution to GDP to 65% by 2030.

(Editing by Seban Scaria seban.scaria@lseg.com)