Al-Rumayyan says PIF currently accelerating pace of investments

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

This represents a qualitative shift in the fund's investment methodology, its operational management style, and its ability to create a broad economic and social impact at the national and global levels, he added, in a speech on the occasion of publishing PIF’s 2024 annual report.

Upon reaching this advanced stage of its journey, PIF is currently accelerating its investments, in line with its efforts to reshape the future of investment, focusing this approach on the power of technical intelligence, accuracy, and flexibility, Al-Rumayyan stated.

He added that the total value of assets under management (AUM) will reach SAR 3.42 trillion by the end of 2024, compared to SAR 2.87 trillion in 2023, while the volume of investments directed to priority sectors within the Vision Realization Program will reach SAR 213 billion in 2024, bringing the total investments since the program's launch to more than SAR 642 billion.

The Vision Realization Program affirms the fund's commitment to creating a comprehensive and measurable economic and social impact. Its 2025 targets include the fund and its portfolio companies contributing SAR 1.2 trillion to the non-oil GDP cumulatively, spurring cumulative non-governmental investments of the same value, and raising the percentage of local content contribution to 60%, the Governor said.