Saudi Press: Saudi Vision 2030 Aims to Transform PIF into One of the Largest Sovereign Wealth Funds in the World

Thursday 1442/6/15 - 2021/01/28
  • Share on Google+

Riyadh, January 28, 2021, SPA -- Saudi newspapers highlighted in their editorials today a number of issues at local, regional and international arenas.
Al-Riyadh newspaper reported in its editorial that the periodic government communication press briefing, which was held with the Governor of the Public Investment Fund (PIF), focused on the PIF new strategy, confirming the leadership’s interest in informing citizens of all developments related this strategy over the next five years.
In this regard, HRH Crown Prince has confirmed that the strategy is a key pillar to achieve the aspirations of our dear country towards economic growth, raising the quality of life and achieving the concept of comprehensive and sustainable development in various traditional and modern sectors, the paper said.
The Kingdom of Saudi Arabia's Vision 2030 aims to transform the PIF into one of the largest sovereign wealth funds in the world by establishing national economic partnerships that would contribute to enhancing the role of Saudi Arabia in the regional and global scenes, as the PIF would be a major contributor to promoting growth of the Saudi economy and diversifying sources of income, the paper added.
The objectives that the PIF aspires to achieve by 2025 include, raising its assets to SAR 4 trillion, injecting at least SAR 150 billion annually into the local economy on an increasing level and creating 1.8 million jobs, directly and indirectly, the paper further added.
These objectives will achieve financial and developmental sustainability for the Saudi economy, support long-term economic growth and achieve welfare for citizens, the paper concluded.
In other context, Al-Bilad newspaper reported in its editorial that the leadership of the Kingdom of Saudi Arabia attaches priority to human health and safety at all times and circumstances without exception.
In the global crisis of the Coronavirus pandemic, all precautionary and preventive measures were applied since an early time to prevent the spread of the virus, as the health sector received great support to achieve all its requirements and meets its needs, which helped the health sector to implement treatment protocols in a way that exceeded expectations, the paper added.
In this regard, Saudi Arabia topped countries that were able to confront the virus strongly and effectively and topped recovery rates in Arab Gulf states, according to statistics announced by the Gulf Health Council, the paper further added.
On the other hand, international specialists confirmed that Saudi Arabia has the ability and competence to establish a factory to manufacture virus vaccines and that the efforts it has exerted to confront the pandemic are a model to be followed, the paper concluded.
---SPA
10:35 LOCAL TIME 07:35 GMT
0002