RIYADH, April 25 (Xinhua) -- Saudi Arabia announced on Thursday that the total assets managed by the Public Investment Fund (PIF) reached 2.81 trillion Saudi Riyals (about 749.2 billion U.S. dollars) in 2023, solidifying its role as a key driver of the kingdom's economic development. Acco...
Saudi Arabia’s Public Investment Fund and the men’s professional tennis tour have agreed to a five-year partnership that includes naming rights for the ATP rankings, the latest move by the kingdom into that sport and others. The ATP already had a deal
The report further noted that companies owned by the PIF created over 181,000 jobs exclusively in 2022. Last month, the PIF launched Tasaru, a company dedicated to developing local supply chain capabilities for the automotive and mobility industry in Saudi Arabia. The fund has also made several...
The Company’s products will be manufactured in Saudi Arabia, ensuring the highest level of product quality and safety through best-in-class practices. Consequently, Badael aims to provide new economic opportunities and create jobs, working in partnership with the local private sector and w...
tourism ecosystem. The creation of the company is in line with PIF’s strategy to create opportunities in the tourism sector and reinforce strategic partnership opportunities with the private sector, creating jobs and diversifying sources of income for the local economy in line with Saudi Vision...
The PIF has a leading role in advancing Saudi Arabia's economic transformation and diversification, as well as contributing to shaping the future of the global economy. Since 2017, the PIF has established 72 companies and created, directly and indirectly, more than 500,0...
Products Development Company, and Americana Restaurants International PLC. The investment in Tamimi Markets is in line with PIF’s strategy to develop key sectors in Saudi Arabia. Since 2017, PIF has established 77 companies and has generated more than half a mill...
The joint venture also underscores PIF's efforts to create national and regional champions, building local capabilities, attracting cutting-edge technology, and creating highly skilled jobs inSaudi Arabia'sautomotive and mobility sectors. PIF's i...
The PIF’s new "significant commitment" — through which it has taken a majority stake in the ETF, acting as an anchor investor — came as many international investors have "a genuine appetite to invest in Saudi Arabia and its capital market, thanks to its favorable maturity and growth, sup...
Saudi Arabia would be the project's primary target market, with plans to export to the GCC and broader MENA region. It is expected to create new jobs and significantly reduce reliance on imported steel, serving customers in several strategic industrial sectors including pipelines, shipbuilding, rig...