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  • 06-07-21

    Saudi Arabia’s Public Investment Fund assets increase to USD426.6B

    (MENAFN)According to Deputy Governor Yazeed Al-Hamid, Saudi Arabia’s Public Investment Fund (PIF) assets increased to about SR1.6 trillion (USD426.6 billion) and it plans to improve this to SR4 trillion (USD1 trillion) by the end of 2025.

    Al Riyadh paper quoted Al-Hamid as saying that the sovereign wealth fund plans to increase its local investments to reach 75-80 percent of its total investments.

    He further declared that the PIF added about SR311 billion in the Saudi economy, and set to offer 331,000 direct and indirect jobs in the local market amid 2016 and 2020. It plans to generate about 1.8 million direct and indirect jobs by the year 2025.

    The PIF plans to open doors for more local stock exchange flotation by turning into an active participant in the Kingdom’s financial markets, through the listing of some of its Saudi units.

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