Mohammed bin Salman, Crown Prince of Saudi Arabia and Chairman of the Board of Directors of the Public Investment Fund, launched the fund's new strategy for the years 2021-2025.
According to Arabiya Net, bin Salman said that the assets of the investment fund will exceed 7.5 trillion riyals in 2030.
He said that the fund aims, according to its new strategy, by the end of 2025 to have assets exceeding 4 trillion riyals, create 1.8 million jobs directly and indirectly, and contribute through its subsidiaries It has a non-oil GDP of 1.2
One trillion riyals, cumulatively.
The Crown Prince affirmed that the new strategy of the Fund comes to represent a major pillar in achieving our nation's ambitions towards economic growth, raising the quality of life, and achieving the concept of comprehensive and sustainable development in various traditional sectors. And modern.
Prince Mohammed bin Salman confirmed that the fund will spend at least 150 billion riyals annually in the local economy, and progressively over the next five years, explaining that the fund looks at the private sector as The most important partner with him is related to countless multiple successes
To give more opportunities.
He revealed the fund's goals by raising the percentage of local content to 60% in the fund's projects and companies during the next five years that represent its new strategy.
The Crown Prince described the Investment Fund as not only an investment arm for the Kingdom, but rather an investment in the future of the Kingdom and the world, and our goal is to be our pioneering home for a new human civilization.
and the Crown Prince considered that the Public Investment Fund was able to achieve huge investment and economic achievements, through which it was able to reach important strategic goals and place it in a prominent position on the world map as a sovereign fund. Pioneer and able to invest and manage
Significant capital in multiple markets.
The Crown Prince said that the fund was able to achieve a positive impact on the local economy and maximize sustainable returns. The fund had doubled its assets to about 1.5 trillion riyals by the end of 2020, and contributed to activating 10 new sectors, and contributed to the creation of 331 thousand direct and indirect jobs until the end of the third quarter of 2020.
Prince Mohammed bin Salman also affirmed that the fund’s strategy aims to achieve the goals of Saudi Vision 2030 by maximizing the fund’s assets, launching new sectors, building strategic economic partnerships, and localizing technologies and knowledge. This contributes to supporting development efforts.
A stronger diversification ...
