PIF doubles AUM, sets up 103 firms: Vision 2030

The Public Investment Fund (PIF) has played a key role, since its establishment in 1971, in driving development by financing projects and building national companies.

 

With the launch of Vision 2030, the PIF’s role has expanded significantly, positioning it as a key engine of economic growth, advancing non-oil sectors, and forging local and international partnerships to attract investment and unlock new opportunities.

 

PIF’s evolution through three phases under Vision 2030:

 

The PIF’s strategy has evolved through three integrated phases under Vision 2030, marked by flexibility in execution and prioritization.

 

The first phase (until 2020) focused on restructuring the fund and launching its initial strategy, targeting 10 underdeveloped sectors, alongside the introduction of a dedicated PIF regulatory framework.

 

The second phase (2021–2025) introduced a new strategy centered on investments across 13 strategic sectors, while accelerating the development of giga-projects such as Diriyah, the Red Sea, and Qiddiya.

 

The third phase (2026–2030) aims to focus the fund’s activities on six economic ecosystems, while strengthening private sector participation in project execution and expanding investment opportunities.

 

PIF’s effort has doubled its assets under management (AUM), launched new companies, and helped the rollout of major projects. The Kingdom’s sovereign wealth fund has contributed around 10% to non-oil GDP and supported the creation of more than one million direct and indirect jobs since 2018, while enabling private sector participation across its investment portfolio.