PIF pours SR235 billion new investments into Saudi companies

The Public Investment Fund revealed that it had raised its investments in Saudi companies to 718 billion riyals by the end of the year 2022, constituting 32% of its investment portfolio, to come at the forefront of its local and global investments.

According to the Fund’s annual report for the year 2022, the investment portfolio in Saudi companies increased from 483 billion riyals in 2021 to record 718 billion riyals by the end of 2022, i.e. an increase of 235 billion riyals, equivalent to an increase of 49% in one year, constituting 32% of the fund’s investment portfolio.

In enhancing its investments in local companies, the Fund is based on its new strategy that contributes to achieving the goals of the Kingdom’s Vision 2030, by strengthening the local economy and injecting basic investments into local and international projects and companies. Therefore, the Fund is currently a strategic shareholder in many leading institutions. In the Kingdom, as it is a link between Saudi companies in a group of key sectors and strategic priorities for the Kingdom.

The fund owns a number of public and private companies with the ability to compete globally in strategic growth sectors. It also invests in local investment funds that focus on trading shares of companies listed on the Saudi Stock Exchange (Tadawul).

The fund focuses on improving and maximizing the value of its assets in the portfolio of investments in Saudi companies through its work as an engine for growth, and a major driving force for companies in their pursuit of achieving their goals, and achieving leadership at the regional and global levels in the sectors in which it operates.

The fund aims to contribute to the non-oil gross domestic product by 1.2 trillion riyals cumulatively, contribute 60% to the local content, create 1.8 million direct and indirect jobs in the Saudi economy, and inject 150 billion riyals as a minimum of new local investments annually. ..

The Public Investment Fund aims to launch new sectors, build strategic economic partnerships, and localize technologies and knowledge. The fund’s achievements in investing in local companies reflect its steady progress towards achieving a five-year strategy (2021-2025), as it aims to reach about one trillion in assets (4 trillion riyals) by the end of 2025, before reaching about $2 trillion (7.5 trillion riyals) by 2030.