PIF achieves financial returns exceeding set goals: Al-Rumayyan

Yasir Al-Rumayyan, Governor of the Public Investment Fund (PIF)

The Public Investment Fund (PIF) has made steady progress towards achieving financial returns that exceed the set goals, in line with the fund’s 2021-2025 strategy, said Governor Yasir Al-Rumayyan. 

In his speech on the 2023 annual report, Al-Rumayyan indicated that the fund has achieved remarkable progress in terms of its managed assets, which amounted to SAR 2.87 trillion by the end of 2023, up 29% from SAR 2.23 trillion a year ago. This came as PIF continued to take courageous steps to achieve its ambitions.

PIF still invests in projects and companies, while building influential partnerships that contribute to diversifying the Saudi economy. This is to create new investment opportunities and shape the future of global economic sectors, out of its role as a long-term investor and a catalyst for change, he added.

Al-Rumayyan also pointed out that great steps have been taken towards achieving the goals of Saudi Vision 2030. This is through strategic investments aimed at economic diversification and focus on improving the quality of life, he added, noting that the Kingdom's 2023 economic performance reflected ability to withstand and adapt in the face of economic woes.

The outlook for the Saudi economy remains positive, backed by strong growth in non-oil GDP, rising consumer spending and accelerating project implementation, the top official said.

However, geopolitical risks, both regionally and globally, continue to pose potential challenges, underscoring the need to continue enhancing the Kingdom's economic resilience by maintaining economic diversification efforts, he further stated.