The plans include maximizing the Fund's current assets and raising the total return on shareholders from 3 % to between 41 TP3T and 51 TP3T.
The Fund's program is a milestone
Commenting on the launch of the Public Investment Fund Program (2018-2020), as one of the programs to achieve the Kingdom's Vision 2030, His Royal Highness Prince Mohammed bin Salman, Crown Prince and Deputy Prime Minister, said: The Public Investment Fund program represents a major milestone in our work towards realizing the ambitions of Vision 2030. At the local level, we are working to increase the added value of local investment portfolios and stimulate sustainable strategic diversification efforts by providing investment opportunities in a wide range of sectors, and the programs reinforce the Fund's role as an effective engine for diversifying the Kingdom's economy and deepening the Kingdom's impact and role in the regional and global landscape."
Royal Prince Mohammed bin Salman, Crown Prince and Deputy Prime Minister, said.
Objectives and Activities of the Fund
The Fund's strategic objectives are centered on four main curves:
- Maximize the value of PIF's assets.
- Launching new sectors.
- Localizing advanced technologies and knowledge.
- Building strategic economic partnerships.
During the past two years, the Fund has carried out a number of activities to strengthen PIF's position as one of the most important and influential sovereign wealth funds in the world, including:
Public Investment Fund (PIF), in its quest to become one of the most important and influential sovereign wealth funds in the world.
- Developing expertise and more than tripling the number of employees in the Fund to about 200 men and women.
- Comprehensive development of investment activities, governance frameworks, legal, risk, compliance and finance departments.
Investment Portfolios and Project Launch
The PIF program emphasizes integration with the Saudi private sector through new domestic investment portfolios, distributed among the Saudi Corporate Investment Portfolio, the Promising Sector Development Portfolio, the Real Estate and Infrastructure Development Portfolio, and the Saudi Major Projects Portfolio.The level of ambition of the PIF program is evident in its investment activities, governance and legal frameworks, risk management, compliance, and financing. <The Fund's ambitions in terms of local investment portfolios are reflected in the launch of major projects, including: NEOM, the Red Sea Project, and Qiddiya, in addition to the establishment of 9 companies to launch new and promising sectors in the Kingdom, including the Saudi Military Industries Company, the Fund of Funds, and the Saudi Real Estate Refinance Company.
The Fund's ambitions are reflected in its domestic investment portfolios.
Global Investments
Strategic Global Investment Portfolio aims to be an active driver of the global economy and build the Kingdom's reputation globally as a partner of choice for global investment opportunities.
Strategic Partnerships
<Internationally, the Fund has begun investing in some of the world's most innovative companies and has established strategic partnerships to support long-term diversification efforts, ensuring the Kingdom's leading position in investing in promising opportunities. The Fund seeks to enhance its institutional capabilities by adhering to the highest standards of transparency and governance. PIF's 2018-2020 program will be discussed in greater detail at the Future Investment Initiative (FII), which is currently hosted by PIF in Riyadh and brings together the world's leading investors and innovators to explore the trends, opportunities and challenges that will shape the future of investment and the global economy in the coming decades.
