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Leaders
19-05-2025
- Business
- Leaders
PIF Opens Paris Office to Boost Global Growth, France Ties
The Public Investment Fund (PIF) has announced the opening of a new subsidiary office in Paris, reinforcing its global expansion strategy and deepening its presence in France one of its key international markets. This move reflects PIF's commitment to building close relationships with local partners, leading companies, and institutional investors. The opening ceremony will be attended by French President Emmanuel Macron, PIF Governor Yasir Al-Rumayyan, and other senior officials and business leaders. The event coincides with the annual 'Choose France' summit held in Paris. As a long-term investor in transformative industries and markets worldwide, PIF views the Paris office as a strategic step toward enhancing regional partnerships. According to the announcement, from 2017 to 2024, PIF invested $84.7 billion across Europe, contributing $52 billion to the continent's GDP and generating more than 254,000 direct and indirect jobs. In France alone, PIF's investments totaled $8.6 billion, adding $4.8 billion to the French GDP and creating 29,000 jobs. The Paris office opening is aligned with PIF's broader strategy to support global economic development while driving Saudi Arabia's economic transformation. With over 220 portfolio companies and a global footprint that includes offices in New York, London, Hong Kong, and Beijing, PIF has already created over 1.1 million jobs worldwide. The fund remains dedicated to forging new partnerships with a wide array of international institutions. Related Topics : PIF Drives Women's Golf Revolution with New Global Series Partnership Saudi PIF Eyes $100M Investment in AirAsia to Boost Regional Tourism Global Golf Stars Gear Up for Fierce Showdown at Saudi PIF Women's Championship Saudi Arabia's Golfing Showcase: PIF Saudi International 2024 Launches in Riyadh Short link : Post Views: 123
Leaders
13-02-2025
- Business
- Leaders
Saudi Minister of Economy: Infrastructure Projects Require $1 Trillion by 2030
Saudi Arabia's Minister of Economy and Planning, Faisal Al-Ibrahim, stated that investments in Saudi Arabia's infrastructure sector are expected to reach nearly $1 trillion by 2030, Saudi Gazette reported. Such expectation is based on clear economic objectives and long-term private-sector strategies. Speaking at the Public Investment Fund (PIF) and Private Sector Forum in Riyadh, the minister said that Saudi Arabia's non-oil sector is also expected to witness a substantial growth by 2026. In the same context, Al-Ibrahim underscored PIF's pivotal role in economic growth by through the establishment of funding strategic companies. Consequently, the fund's role has evolved over time to include various investments aimed at achieving future returns and growth in assets under management. Moreover, the PIF has played a central role in creating new sectors and boosting in the private sector. The minister also stressed that PIF's mission goes beyond financial returns, advancing economic knowledge and introducing innovative business models. Al-Ibrahim underscored PIF's dedication to developing national talent and human capital. As for the Saudi Vision 2030, the minister stressed the significance of diversifying the economy and cutting dependency on a single revenue source by boosting non-oil sectors and high-value exports. Related Topics: PIF Invests in Masdar to Boost Saudi Construction Sector Global Golf Stars Gear Up for Fierce Showdown at Saudi PIF Women's Championship PIF Strengthens Saudi Arabia's Insurance Sector with Investment in Re Short link : Post Views: 13 Related Stories
