PIF opens Paris office to expand European investment footprint
Saudi Gazette report
PARIS — The Public Investment Fund (PIF) of Saudi Arabia announced the opening of a new subsidiary office in Paris, reinforcing its global footprint and signaling deeper engagement in one of its key international markets.
The Paris office will serve as a strategic base for strengthening partnerships with leading companies, investors, and institutions across Europe.
The official opening will coincide with the launch of the annual Choose France summit and will be attended by French President Emmanuel Macron, PIF Governor Yasir Al-Rumayyan, and several senior officials and business leaders.
The move highlights PIF's commitment to international collaboration and long-term investment in innovative and transformative sectors.
Between 2017 and 2024, PIF invested $84.7 billion in Europe, contributing $52 billion to the continent's GDP and creating over 245,000 direct and indirect jobs.
In France alone, PIF has invested $8.6 billion during the same period, adding $4.8 billion to French GDP and generating more than 29,000 jobs.
The Paris expansion aligns with PIF's broader strategy to drive global economic growth while supporting Saudi Arabia's Vision 2030 goals. The fund, one of the world's most influential investors, has played a key role in creating more than 1.1 million job opportunities globally through its investments and partnerships.
PIF's global presence now includes offices in New York, London, Hong Kong, Beijing, and Paris.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Asharq Al-Awsat
a day ago
- Asharq Al-Awsat
Saudi PIF Partners with FIFA for 2025 Club World Cup
Saudi Arabia's Public Investment Fund and world football association FIFA have announced PIF as an official partner of FIFA Club World Cup 2025, which will take place in the United States from June 14 to July 13. The partnership reflects the shared vision of FIFA and PIF to enable greater participation in sports by unlocking new opportunities, fostering innovation, and engaging fans around the world. With a focus on youth, the partnership will provide opportunities for young people, supporting FIFA in its efforts to engage and inspire at a grassroots level. The new FIFA Club World Cup 2025 marks a fresh chapter for professional club football on the global stage. It will feature 32 of the world's top football clubs, bringing together champions from all six FIFA confederations for a month-long tournament in 11 cities across the United States. Football is the most popular sport in Saudi Arabia and globally. The Saudi public will follow the tournament, where Al-Hilal Club participates as a representative of the Asian continent. 'We are delighted to welcome PIF as a partner of the FIFA Club World Cup 2025™,' said FIFA chief business officer Romy Gai. 'Together, we look forward to delivering a historic tournament that inspires and unites fans from around the world.' 'The partners of the first-ever 32-team FIFA Club World Cup believe in our vision to make football truly global. Their support of the tournament will not only be integral to its success but will underpin investment in supporting the development of club football everywhere,' Gai said. PIF head of corporate brand Mohammed AlSayyad said: 'PIF is creating a legacy of transformative impact in sports including through its partnerships, delivering positive and lasting results at every level, from players and fans to host communities.' 'PIF is at the forefront of growing football around the world following our CONCACAF partnership announced last year and our continued investment in football. We are unlocking opportunities to drive the growth of the sport around the world,' AlSayyad said. Football plays a crucial role in the ongoing transformation of Saudi Arabia, and as host of the FIFA World Cup 2034, reinforces the country's ambition to grow the game globally, create new opportunities for all, and extend its benefits in Saudi Arabia and every part of the world for generations to come. The FIFA Club World Cup 2025 will be played in 12 stadiums across 11 US host cities. The 63-match tournament will culminate with what promises to be a spectacular final at MetLife Stadium in New Jersey, just outside of New York City, on July 13, when the FIFA club world champion will be crowned.
Al Arabiya
a day ago
- Al Arabiya
Saudi Arabia's PIF partners with FIFA for 2025 Club World Cup
A week before the inaugural FIFA Club World Cup begins, Saudi Arabia's Public Investment Fund (PIF) has signed on as an official partner of the monthlong tournament that takes place at stadiums across the United States. PIF, the Kingdom's sovereign wealth fund, makes this move partially in preparation for Saudi Arabia's role as host of the 2034 World Cup. For more Saudi sports news, visit our dedicated page. 'PIF is creating a legacy of transformative impact in sports including through its partnerships, delivering positive and lasting results at every level, from players and fans to host communities,' PIF head of corporate brand Mohammed Al-Sayyad said in a statement. 'PIF is at the forefront of growing football around the world following our CONCACAF partnership announced last year and our continued investment in football. We are unlocking opportunities to drive the growth of the sport around the world.' The FIFA Club World Cup features some of the most prominent clubs from leagues all over the world. The competition begins Saturday, June 14, with Lionel Messi and Inter Miami (MLS) hosting Egyptian club Al Ahly FC, which has won three recent CAF Champions League titles. According to the Opta Power Rankings, the top five clubs in the tournament are Paris Saint-Germain (France), Manchester City (England), Bayern Munich (Germany), Inter Milan (Italy) and Real Madrid (Spain). Group play begins Saturday and carries through June 26. The knockout rounds begin June 28 with the championship match slated for July 13 at MetLife Stadium in East Rutherford, N.J.
Arab News
a day ago
- Arab News
How AI tech innovation has elevated the Hajj 2025 pilgrimage experience
RIYADH: As the annual Hajj pilgrimage draws millions of Muslims to Makkah in 2025, Saudi Arabia is using a powerful suite of artificial intelligence tools to ensure that this sacred journey is safer, smoother, and more spiritually enriching than ever before. In a remarkable blend of ancient ritual and modern innovation, the Kingdom is harnessing AI, biometric technologies, and digital services to overcome the logistical challenges of hosting one of the world's largest religious gatherings — from crowd control to heat management — all while preserving the sanctity of the experience. 'Saudi Arabia carries an immense responsibility in hosting millions of pilgrims,' Hatem Mandeel, managing director and co-founder of the digital transformation consultancy Tyde AI, told Arab News. 'It continues to demonstrate a strong commitment to this role through innovative approaches to event management and safety.' At the heart of this transformation is Vision 2030, the Kingdom's national roadmap for economic diversification and digital growth. This year's Hajj reflects those ambitions in action, with technologies being used to streamline everything from spiritual guidance to crowd movement. This section contains relevant reference points, placed in (Opinion field) Among the most notable are two new tools — the Smart Enrichment Assistant and the Digital Mutawwif. Developed by the Agency for Religious Affairs at the Prophet's Mosque, the Smart Enrichment Assistant provides real-time updates on prayer times, imam schedules, and locations of religious activities. Offered in numerous languages, it reduces logistical stress while deepening spiritual engagement for pilgrims. The Digital Mutawwif, meanwhile, was created by the General Authority for the Care of the Grand Mosque and the Prophet's Mosque to serve as a digital companion for Umrah pilgrims. It includes navigation tools for tawaf and sa'i, a library of audio-visual supplications, and built-in ritual counters to help pilgrims stay focused and on track. These tools are complemented by the Makkah Route Initiative, a fast-track immigration service powered by biometric technology and AI. Now operating at 11 international airports in seven countries, the initiative allows pilgrims to complete visa, customs, and health checks before boarding their flights — reducing congestion on arrival. It is supported by round-the-clock monitoring systems run by the Saudi Data and AI Authority, which ensure health compliance and swift issue resolution through AI-driven analytics. Behind the scenes, more sophisticated AI platforms are addressing the enormous logistical demands of Hajj. One of the most critical is Baseer, a platform developed by the Ministry of Interior in partnership with the Saudi Data and AI Authority. Using computer vision and machine learning, Baseer tracks and analyzes the movements of more than one million worshippers a day inside the Grand Mosque. The insights help authorities predict crowd surges and prevent dangerous bottlenecks. • Smart Enrichment Assistant helps pilgrims navigate rituals with real-time updates and multilingual spiritual guidance. • Digital Mutawwif guides pilgrims step by step through tawaf and sa'i, with visual aids, supplications, and ritual counters. • Makkah Route Initiative fast tracks immigration using biometrics and AI, easing congestion before pilgrims even arrive. • Baseer tracks more than a million worshippers a day to manage crowd flow and prevent bottlenecks at the Grand Mosque. Using AI at this scale is a major milestone in event management, especially in sensitive, sacred contexts. 'Building this technology is one thing, but maintaining system reliability under high demand, ensuring data privacy and properly onboarding personnel is a whole operation in itself,' Mandeel said. Adding a more personal and interactive touch, the Kingdom has also introduced Manarah 2, a multilingual robot equipped with a smart touchscreen. It provides real-time information and guidance to pilgrims in several languages, along with a dedicated application to help non-Arabic speakers recite Surah Al-Fatiha correctly. 'This demonstrates how Saudi Arabia is taking the initiative to manage — but also elevate — the sacred journey for millions of pilgrims,' Mandeel said. 'This is a powerful example of how AI can thoughtfully enhance sacred, deeply human experiences — something more people globally should be aware of and inspired by.' With extreme heat, massive crowds, and time-sensitive rituals, the pilgrimage poses huge logistical challenges. But Saudi Arabia's strategic investment in AI is setting a global standard for how digital transformation can serve human traditions. 'This proactive use of technology not only supports the goals of Vision 2030,' Mandeel said. 'But also offers a model for other nations managing large-scale gatherings in sensitive contexts.'
