Riyadh, Saudi Arabia – Saudi Arabia is preparing to revamp the strategy of its Public Investment Fund, which manages assets worth more than $925 billion.
This is a step aimed at achieving more sustainable returns and reducing reliance on mega construction projects.
Which has been a key focus of development plans over the past decade,
according to Reuters, citing an informed source.
The source, who declined to be identified due to the sensitivity of the matter,
explained that the new approach focuses on expanding investments
in the mining, logistics, and religious tourism sectors.
As promising areas capable of achieving long-term economic growth and boosting non-oil revenues.
He also indicated that the fund plans to strengthen its presence in
the fields of artificial intelligence and data centers.
Benefiting from the Kingdom’s strong infrastructure
and abundant resources of gas, oil and renewable energy,
This will contribute to supporting digital transformation
and enhancing Saudi Arabia’s position as a regional technology hub in the Middle East.
This amendment comes at a time when some mega-projects,
such as Neom and The Line, are facing challenges.
Implementation delays and financial challenges have prompted
the government to review its investment priorities within Vision 2030.
Implementation delays and financial challenges have prompted
the government to review its priorities within Vision 2030.
This reflects a more realistic approach, focused on quick and medium-term returns.
Without abandoning the grand ambitions that characterize the Saudi economic project.
