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PIF creates 762,000 direct and indirect jobs: Report
Published in The Saudi Gazette on 22 - 07 - 2024

RIYADH — The Public Investment Fund (PIF) recently released a report highlighting an increase in direct and indirect job opportunities to 762,000 created by the fund, Okaz newspaper has said. The fund operates across 13 strategic sectors and has established 95 companies within its portfolio.
Presently, the PIF manages approximately SR3.47 trillion in investments, with SR1.75 trillion in market value across listed companies. Its direct holdings include 23 companies such as Aramco, STC, Ma'aden, Acwa Power, Elm, Tadawul, and others. The fund also holds indirect stakes in companies like Al-Safi, Almarai, and Nadec.
The fund has stated that it encourages private sector growth in Saudi Arabia by investing in new and promising sectors, aiming to create jobs, develop capabilities, and enhance local economic competitiveness regionally and globally. The PIF remains active in managing its companies by defining and developing strategies and initiatives across various sectors.
On its website, the PIF indicated that it reviewed the current status of its investment portfolios, including priority adjustments in light of new program data, and input from asset managers and investment advisors. The fund has reclassified its portfolios based on these guidelines and has aligned its investment policy with its objectives across different sectors.


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