Saudi macroeconomic, fiscal position remains robust, resilient: Al-Rumayyan

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

Yasir Al-Rumayyan, Governor of the Public Investment Fund (PIF) and Chairman of the Future Investment Initiative, said Saudi Arabia’s macroeconomic and fiscal position remains “robust, stable, and resilient,” adding that the PIF’s portfolio is also diversified and structurally flexible.

Speaking during the fourth edition of the FII PRIORITY Summit held in Miami, US, Al-Rumayyan said the fund’s new strategy will be unveiled in the coming weeks.

He added that over the next five years, PIF aims to attract more talent and encourage foreign capital inflows, noting that the previous phase ending in 2025 focused heavily on boosting domestic investments.

Al-Rumayyan further emphasized that the fund’s strategy continues to evolve in line with global developments, reiterating that both the Saudi economy and PIF’s portfolio remain strong, stable, and resilient.

He also noted that targeted investments will not be limited to urban and real estate development, but will extend to data centers, pharmaceuticals, and renewable energy, which the fund aims to develop as key ecosystems.

On artificial intelligence (AI), Al-Rumayyan explained it is not a race to be first, but rather requires careful planning, study, and building the right foundations. He added that Saudi Arabia is well positioned to benefit from AI.

He highlighted the Kingdom’s advantages, including easy access to critical infrastructure, such as GPUs and CPUs, as well as the availability of energy required to power data centers, and supportive regulatory environment and government backing.

“For us, AI is a tool, not an end product—the end product is what our companies create,” he said.