Public Investment Fund Program

The Public Investment Fund Program aims to enhance the role of the Public Investment Fund (PIF), which is the active engine behind the diversification of Saudi Arabias economy and the development of specific strategic sectors through cultivating and maximizing the impact of the fund’s investments. It also aims to make PIF one of the largest sovereign wealth funds in the world as well as establish solid economic partnerships that contribute to deepening Saudi Arabia's impact and role in the regional and global scenes.

The Program was launched in the fourth quarter of 2017 with the aim of strengthening PIF's position and making it an essential arm to achieve Vision 2030. It is considered a pioneering economic catalyst for the Saudi Arabia and an effective component of a thriving economy.

The Program seeks to enhance the economic and investment sustainability of the Kingdom through four direct objectives, which are to help it design and develop its initiatives according to a number of investment pillars. The pillars are represented in launching promising local sectors, developing local real-estate projects, launching and supporting major projects, and increasing and diversifying PIF's global assets.

Since its launch, the Program has achieved many things, including maximizing PIF's assets, increasing the total return to shareholders, expanding the establishment of local companies in various fields, and launching a number of major national projects. This contributed to the creation of hundreds of thousands of direct and indirect jobs and increasing PIF's participation in non-oil gross domestic product.

The Program strides steadily towards its ambitions of doubling the PIF's assets under management, to be one of the largest sovereign wealth funds in the world and the preferred investment partner, thus consolidating its position in shaping the future of the global economy.

In the next phase, the Program will continue to enhance PIF's role as one of the main pillars of Vision 2030, based on an ambitious strategy to empower the private sector and launch promising sectors, as it commits to pumping no less than SAR 150 billion into the local economy annually until 2025, targeting new local projects. The Program also aims to raise the percentage of local content in PIF and its affiliates to 60% and create more than 1.8 million jobs cumulatively by 2025. PIF and its subsidiaries aim to contribute SAR 1.2 trillion to the non-oil GDP, cumulatively, by the end of 2025.