Tuesday, 16 July 2024

Al-Rumayyan: PIF manages $650 billion in assets, targets $1 ‎trillion by the end of 2025, $3 trillion in 2030.‎

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Yassir Al-Rumayyan, Governor of the Public Investment Fund, said that the Kingdom has the financial and human resources qualified to achieve Vision 2030, citing that the fund managed assets worth $150 billion in 2015 and now has about $650 billion. The target is $1 trillion by the end of 2025, and its doubling by 2030 is between $2 to $3 trillion, indicating that the Fund today is the largest investor in the world in renewable energy and green hydrogen in light of the national goals to reach zero energy emissions by 2050, stressing that the Kingdom is the lowest energy emission around the world with 10.5 grams of carbon while 25 kilograms of carbon goes to other producers

Al-Rumayyan showed off at the “Global PRIORITY Summit” organized by the Future Investment Initiative (FII Institute) in Miami, the experience of the Kingdom of Saudi Arabia in the economic field, stressing that the Kingdom had begun to diagnose and survey the entire Saudi economy and study Comprehensive, which included a comparison of other economies in the world, using the best experiences, and then built its operational plan on numbers, determinants and performance indicators to reach the clear goals set.

He pointed out that the International Monetary Fund expected the Saudi economy to grow by 7.5% as the highest growth rate among developing countries, but it exceeded expectations, and unemployment was reduced from 13% to 8%, including the creation of half a million direct and indirect jobs by the PIF, while raising the quality of jobs. Jobs and aiming to double them to become one and a half million additional direct and indirect jobs by the end of 2025 with the support of the wise leadership represented by the Custodian of the Two Holy Mosques and his trustworthy Crown Prince – may Allah protect them.

The Governor of the Public Investment Fund noted that the Future Investment Initiative Foundation aims to reach effective steps and procedures to achieve the need for investments in various countries, not just at the local level, based on accurate numbers and data, as major companies do globally.

The Global PRIORITY Summit, organized by the Future Investment Initiative (FII Institute), was launched yesterday, Thursday, in Miami. The most important priorities for each segment of society at a time when the world is going through conditions and social, economic and geopolitical changes, in an effort to adopt a road map for the world to overcome its most urgent challenges, understand humanity’s needs and expectations, and then engage in a discussion aimed at stimulating action and finding solutions Which will help leaders around the world to address the key priorities of every segment of society.

It should be noted that the Foundation for the Future Investment Initiative (FII Institute) is a global non-profit organization with an investment arm and an agenda whose slogan is: Making a difference to humanity, and since its launch in 2019, the Foundation has published many reports, hosted various international platforms, and launched A number of initiatives and projects to create a more sustainable future for humanity, in addition to its commitment to investing in environmental, social and governance (ESG) principles, promoting brilliant minds and transforming ideas into realistic solutions in five main areas: artificial intelligence and robotics, education, and healthcare, and sustainability.

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