PIF adopts ‘accelerating’ pace of investments: Al-Rumayyan

Yasir Al-Rumayyan, Governor of the Public Investment Fund (PIF)

The Public Investment Fund (PIF) launched in 2024 a new promising phase of superior performance and qualitative innovation, marked by the systematic integration of artificial intelligence applications, smart automation solutions, and advanced digital capabilities into all of the fund's operations, Governor Yasir Al-Rumayyan said.

This represented a qualitative shift in the fund's investment tactic, operational management style, and aptitude to create a broad economic and social impact at the national and global levels, he added in a statement commenting on the PIF’s 2024 annual report.

“In this next stage of its journey, PIF is accelerating investment while also reshaping the future of investment itself — through intelligence, precision, and agility,” the top official wrote.

According to Al-Rumayyan, total assets under management (AUM) reached SAR 3.42 trillion by the end of 2024, soaring from SAR 2.87 trillion in the year before.

Further, capital deployment to Vision Realization Program (VRP)-specific priority sectors amounted to SAR 213 billion by the end of last year, bringing cumulative investment since the program's inception to more than SAR 642 billion.

The VRP is a strategic framework aligning PIF’s investments with Saudi Arabia’s national priorities. Its impact “is both broad and measurable,” the governor stated.

He explained, “By year-end 2025, PIF and its portfolio companies aim to contribute SAR 1.2 trillion in cumulative non-oil GDP, enable SAR 1.2 trillion in cumulative non-governmental investments, and achieve 60% local content contribution.”