Al-Rumayyan: Public Investment Fund intends to create 1.8 million job opportunities

Yasir Al-Rumayyan, governor of the Public Investment Fund (PIF), said that the total volume of the PIF’s assets under management amounted to more than SR2 trillion. “The PIF has been instrumental in creating more than 500,000 direct and indirect jobs, and it intends to create 1.8 million direct and indirect jobs,” he said in remarks on the occasion of the 7th anniversary of the launch of the Saudi Vision 2030.

Al-Rumayyan said that the Saudi sovereign wealth fund has established a total of 71 companies since 2019 in many strategic and vital sectors. “The PIF intends to inject up to SR1 trillion into new projects locally, and it is also moving steadily to consolidate its position as the most preferred investment partner globally,” he said.

The PIF chief also unveiled the fund’s ambitious plans. “Today we are beginning a new phase of achievements in which the fund confirms its commitment and continuity in achieving its goals by the end of 2025, including contributing to the non-oil gross domestic product (GDP) by about SR1.2 trillion and that the size of its assets exceed SR4 trillion.”

Al-Rumayyan pointed out that the PIF occupies an advanced and influential rank among the sovereign wealth funds in the world. “The fund will continue its efforts to diversify the economy, support local content, develop innovative opportunities for the future, and contribute to creating an attractive environment for investments,” he added.