Saudi Press: Saudi Arabia's PIF Increases Asset Value by 137% Compared to 2015

Thursday 1441/11/18 - 2020/07/09
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Riyadh, July 09, 2020, SPA -- Saudi newspapers highlighted in their editorials today a number of issues, at local, regional, and international arenas.
Al-Riyadh newspaper said in its editorial that the decisions and initiatives taken by the government of the Custodian of the Two Holy Mosques to support the private sector confirm the leadership's keenness to enhance investments environment and overcoming all difficulties.
The paper confirmed that the royal order to extend a number of government initiatives will support individuals, private sector enterprise and investors to overcome the impacts of the emerging Coronavirus pandemic, pointing out that the 142 initiatives worth SR 214 bn.
The paper concluded by emphasizing that Saudi Arabia is an attractive and promising business environment that receives great attention from investors and businessmen, indicating that the government of the Custodian of the Two Holy Mosques is keen to take everything that would support citizens and affected sectors in this exceptional stage.
Al-Eqtisadiah newspaper said in its editorial that Public Investment Fund's (PIF) initiative is by far one of the most successful initiatives of the Kingdom's Vision 2030.
The paper pointed out that PIF ranked ninth, for the first time, among the largest sovereign wealth funds in the world, according to latest update of the Sovereign Wealth Fund Institute (SWFI).
PIF's asset amounted to $ 360 billion, equivalent to an increase of 137 percent compared to 2015, to approach the achievement of its target of assets under management during the period 2018-2020.
The paper concluded that PIF managed recently to expand its investments in several vital sectors, including banks, energy, technology, aviation, transportation, tourism, media, entertainment, infrastructure, medicines, telecommunications systems, and food and beverages.
-- SPA
10:04 LOCAL TIME 07:04 GMT