SCBC Team – Riyadh
The Governor of the Public Investment Fund, Yasser bin Othman Al-Rumayyan, stated that the fund will invest a trillion riyals in new projects over the next five years, as part of its new strategy, which aims to make investments in new sectors 21% of the fund’s assets compared to 15% at the end of 2020.
Al-Rumayyan explained during the regular conference for government communication in the Kingdom that the fund’s projects will be funded through 4 sources: “sums transferred from the government, the fund’s profits, financing, and the fund’s own monetary sources,” indicating that the rate of spending in new projects will reach 250. One billion riyals annually.
Al-Rumayyan pointed out that the fund is one of the largest funds in the world and the fastest growing and developing, and that it has become a fundamental pillar for the sustainability of the Saudi economy, stressing that the return of investors has doubled from 3% to 8% by the end of the last year 2020, adding that 4 trillion riyals will be reached. By 2025, through the expected profits and revaluation of the major projects “NEOM, the Red Sea, and Amaala” according to their real value, in addition to offering some private companies in the fund for public subscription.