25 July, 2024
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PIF — driving force behind economic diversification: Year in Review

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Sat, 2022-01-01 23:26

DUBAI: This was a crunch year for Saudi Arabia’s sovereign wealth body, the Public Investment Fund, as it announced a five-year strategy to push the Kingdom’s diversification drive.

It picks up from the body’s first five-year plan launched in 2017, when the Saudi government chose the PIF to “lead the charge in building a national economic transformation.”

The fund posted around SR1.5 trillion ($400 billion) in assets under management, at the end of 2020 — growing nearly threefold from SR570 billion from 2015.

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