1.3 trillion riyals of Saudi Investments assets by the end of September

The assets of the Saudi Public Investment Fund reached 1.3 trillion riyals at the end of last September, from 565 billion riyals.

According to Arabiyanet, Yasser Al-Rumayyan, the fund’s governor, said: We seek to make the Public Investment Fund the largest sovereign fund in the world and establish partnerships to consolidate the position of the Kingdom of Saudi Arabia.

we seek to attract Lucid

In addition, in a session on the sustainability and empowerment of investments within the budget forum, he noted that the Public Investment Fund is the active engine behind the diversification of the economy, that is, dependence on oil for diversification in general Since 2015, the fund has founded about 30 companies.

while referring to investment in various sectors, including electric cars, he said: We seek to attract Lucid Electric Cars to Saudi Arabia.

We invest 150 billion riyals annually

He said: We have invested 150 billion riyals annually since 2015 until now, and we seek to gradually raise these investments.

During the Corona pandemic, Al-Rumayyan revealed that more than 100% of our global investments were achieved during Corona.

He said that the strategy of the Public Investment Fund was based during the crisis on 3 axes: seizing opportunities, strategic investment, and Risky finance or rescue financing for some companies.

we aim for local investments to constitute 80% of our portfolios

Al-Rumayyan explained that during the crisis, the Public Investment Fund seized opportunities, so we entered into investments in American, European and Asian companies, leaving some of them and staying in others. / p>

and continued: We have not only invested in companies but also in ITFs, and in all sectors: the pharmaceutical sector, infrastructure, industries.

In a related context, he said: We aspire to make local investments 80% of our portfolios, and 20% international investments.