US investments make up 40% of PIF's international portfolio, says Yasir Al-Rumayyan
Yasir Al-Rumayyan, the governor of Saudi Arabia's Public Investment Fund (PIF), announced that 40% of PIF's over $100 billion international investments are in the US market.
Speaking at the FII PRIORITY summit in Miami, he highlighted the fund's focus on sectors such as sustainability, education, healthcare, AI, and robotics, and its collaboration with academic and research institutions.
Al-Rumayyan also declared initiatives to expand the FII's presence with summits in Brazil and Kenya, promoting investment opportunities that align with renewable energy and environmental conservation.
While 70% of the fund's investments remain in Saudi Arabia to bolster the national economy, the international investment ratio has been capped at 25%. Nevertheless, the PIF is committed to driving the Kingdom's economic transformation per Saudi Vision 2030, and has achieved several targets ahead of time.
The PIF plans to invest $40-$50 billion annually until 2025, concentrating on the investments' positive effects on Saudi Arabia's GDP, employment, and local industry. Although international investment percentages have declined, their overall volume is increasing.
Al-Rumayyan also cited Saudi Arabia's potential as a leading AI hub, supported by its clean energy leadership, robust political support, ample funding, and skilled workforce.
He lauded Saudi Aramco's sustainable operations, pointing to its investments in clean energy R&D centers to improve its status as the world's most sustainable oil producer.
Additionally, he mentioned Saudi Arabia's ambition to control 15% of the global blue hydrogen market, reinforcing its significant role in the energy sector and advantage in producing low-cost solar energy at under 2 cents per kilowatt-hour.
Al-Rumayyan also declared initiatives to expand the FII's presence with summits in Brazil and Kenya, promoting investment opportunities that align with renewable energy and environmental conservation.
While 70% of the fund's investments remain in Saudi Arabia to bolster the national economy, the international investment ratio has been capped at 25%. Nevertheless, the PIF is committed to driving the Kingdom's economic transformation per Saudi Vision 2030, and has achieved several targets ahead of time.
The PIF plans to invest $40-$50 billion annually until 2025, concentrating on the investments' positive effects on Saudi Arabia's GDP, employment, and local industry. Although international investment percentages have declined, their overall volume is increasing.
Al-Rumayyan also cited Saudi Arabia's potential as a leading AI hub, supported by its clean energy leadership, robust political support, ample funding, and skilled workforce.
He lauded Saudi Aramco's sustainable operations, pointing to its investments in clean energy R&D centers to improve its status as the world's most sustainable oil producer.
Additionally, he mentioned Saudi Arabia's ambition to control 15% of the global blue hydrogen market, reinforcing its significant role in the energy sector and advantage in producing low-cost solar energy at under 2 cents per kilowatt-hour.