War impacts global economy; PIF strategy remains long-term: Al-Rumayyan

PIF Governor Yasir Al-Rumayyan said the fund continuously reviews its investments and priorities in line with economic developments.

Yasir Al-Rumayyan, Governor of the Public Investment Fund (PIF), said the repercussions of war are not limited to a specific region but extend to the global economy as a whole.

He pointed to rising prices across various commodities, as well as shipping, transportation, and insurance services, and their direct impact on multiple sectors worldwide.

In an interview with Al Arabiya TV, Al-Rumayyan explained that the impact of war is not confined to the Saudi economy or the fund’s strategy, but rather affects the global economy as a whole.

He noted increases in oil, shipping, and insurance costs, alongside higher food prices due to interconnected supply chains, as some chemical fertilizers pass through Saudi Arabia and Gulf countries.

The governor added that certain materials, such as gas and helium, face challenges reaching some markets, which in turn affects industries, production, pricing, and leads to delays in some products.

Al-Rumayyan stressed that PIF’s strategy is long-term, spanning five years, and represents an evolution of previous strategies since the fund’s establishment in 1971.

When asked whether the fund plans to reconsider its investments amid geopolitical tensions in the region, he said PIF continuously reviews its investments and priorities in line with economic developments, without directly shutting down or replacing investments. Instead, the fund follows an ongoing, dynamic evaluation process that may involve reprioritization, particularly during periods of conflict.

Further, the governor added that PIF continues to operate in line with its long-term strategy, while maintaining the flexibility to adapt to developments. This aims to ensure the fund meets its objectives and strengthens its role in supporting the Saudi economy and diversifying income sources despite current global challenges, Al-Rumayyan said.

According to Argaam data, PIF’s board of directors, chaired by Crown Prince and Prime Minister Mohammed bin Salman, approved the fund’s strategy for 2026–2030.