Saudi Sovereign Wealth Fund Pledges $70 Billion Annually for Vision 2030

Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), plans to invest an annual $67 billion from 2026 to achieve Saudi Vision 2030.

According to industry sources on the 26th, Yasir Usman Al-Rumayyan, the President of PIF, attended the Future Investment Initiative (FII) conference held in Miami, USA, on the 22nd and announced, “We plan to increase annual capital deployment to $70 billion after 2025.”

Currently, PIF is investing at $40-50 billion annually. The proportion of domestic investment in Saudi Arabia is 70%, and the proportion of overseas investment is 20-25%. President Al-Rumayyan explained, “The proportion of overseas investment has decreased, but the scale is continuously increasing.”

President Al-Rumayyan also emphasized, “PIF has invested $100 billion in each country from 2017 to 2023, creating more than 103,000 jobs. We have made a significant contribution to the U.S. economy.”

PIF is the world’s 6th largest sovereign wealth fund with a managed asset scale of $600 billion, and it is a key source of funds for Vision 2030 reform. The de facto ruler of Saudi Arabia, Crown Prince Mohammed bin Salman, is the chairman of the board.

Saudi Arabia is pushing for Vision 2030, a medium and long-term development plan, to escape from an oil-centered economic structure. This strategic national evolution plan reduces Saudi Arabia’s dependence on oil, diversifies its financial structure, and promotes healthcare, education, infrastructure, recreation, and tourism. The goal is to increase non-oil sector exports from 16% in 2016 to 50% by 2030.