As a vehicle for Vision 2030, Saudi Arabia’s transformation blueprint, the Public Investment Fund (PIF) Program endeavors to sustain efforts that are not only confined to uncovering fresh growth potentials for the Kingdom by investing in international financially viable projects. Rather, it plays a key role on the ground, investing in local projects that will help Saudi Arabia’s priority sectors flourish.
Such actions will open up new avenues for non-oil GDP growth, create more jobs, boost local production, strengthen the Kingdom’s private sector, improve quality of life, and reinforce Saudi Arabia’s leadership position. Indeed, in line with the 2030 vision, it will continue its endeavor as one of the Vision Realization Programs (VRPs) to achieve its objectives and contribute to diversifying the Kingdom’s economy, cultivating new sectors that lead towards a vibrant society, thriving economy and ambitious nation.
CEDA launched the PIF Vision Realization Program (VRP) in 2017 as part of an integrated initiative to achieve the Kingdom’s Vision 2030, as well as to collaborate with other VRPs to contribute to the Kingdom’s economic and social growth, strengthen its global position, and uncover its pioneering investment power.
A Catalyst for Economic Diversification
The PIF has come a long way since its inception, achieving many of its ambitious investment and institutional plans. It is now ready to take the next step in its development by defining its policies, strategies, plans, and vision for the years ahead (2021-2025) and identifying its main investment objectives at local and international levels. The PIF aspires to serve as a catalyst for economic diversification by fostering strategic sectors and solid economic alliances to strengthen the Kingdom’s regional and global influence.
The PIF program has created eight strategic pillars around which it plans and implements its projects. Given their obvious consistency with the goals of Vision 2030, this comprises projects across numerous industries and asset classes internationally to fulfil its 2025 and 2030 aspirations. They are also in line with the directives issued by CEDA’s Strategic Management Committee (SMC) and PIF’s Board of Directors.
The PIF is now ready to take the next step in its development by defining its policies, strategies, plans, and vision for the years ahead
The Kingdom’s Real Estate and Infrastructure sector is an essential aspect of Vision 2030, and it differs in scope, type, and character from other sectors and Real Estate and Infrastructure sectors around the world; thus, it deserves its own pillar. Along the value chain, this Strategic Pillar helps develop local Real Estate and Infrastructure projects and companies. More specifically, it encompasses all Saudi Arabian initiatives to establish development enterprises or assist new businesses in the Real Estate and Infrastructure industry.
Giga-Projects and Vast Resources
One Strategic Pillar focuses on Saudi Arabia’s giga-projects, which facilitates new ecosystems and unlock new sectors through the PIF, which is heavily enabled by and promotes technology and expertise in the Kingdom. The giga-projects are intended to stimulate the economy. Their advantages are expected to extend far beyond the Real Estate and Infrastructure sectors, assisting in diversifying the economy away from oil.
They bolster the Kingdom’s economic development efforts and encourage investments in various industries, all while generating significant profits over the medium and long term. The Red Sea Development Company, NEOM, Qiddiya, and ROSHN are four of the leading giga-projects currently active in the Kingdom.
The PIF program has created eight strategic pillars around which it plans and implements its projects
Saudi Arabia has a unique strategic location as well as a long and illustrious history. Its land is rich in vast and high-quality resources due to several significant factors, including the Kingdom’s economic and geographical position among the world’s countries, connecting the three continents.
It also has diverse terrain from far north to far south, and from the west coast to the east coast, in addition to its most valuable resource, its people, who are strenuously devoted to building a prosperous future. As a result, one of the PIF’s local investment aims is to make use of the Kingdom’s resources.
Working for a Brighter Future
By attracting and maintaining highly trained cadres, developing future leaders in management and investment, and growing expertise in target sectors, the PIF is also energizing and engaging society in executing and implementing a number of projects and objectives.
Saudi Arabia has a unique strategic location as well as a long and illustrious history
As a result, the PIF has concentrated on obtaining the most extraordinary talent from domestic and international markets and has worked hard to develop its people. Moreover, it is keen on leveraging tourist attractions and the Kingdom’s historical and cultural heritage, such as UNESCO sites, in addition to unique natural features such as mountain and marine tourism, to maximize the use of geographical resources. The PIF also aims to optimize non-oil economic resources such as mining, clean energy and entertainment.
The PIF is energizing and engaging society in executing and implementing a number of projects and objectives
Aviation and defence, vehicles, modern research, development, and manufacturing, tourism and entertainment, minerals and mining, utilities, renewable energy, technology localization, communications and media, real estate projects, military industries, e-commerce, modern global cities, and recycling are among the future investments considered by PIF in its activities. Such measures, when taken together, will pave the way for a brighter future for the Kingdom and its people.