Vision Realization Program News Today

This transaction forms part of PIFs broader efforts to deepen the manufacturing sector in Saudi Arabia.

Despite the loss, the fund’s AUM grew to approximately $595 billion thanks to a 4% share transfer from Saudi Aramco.

Saudi Arabia’s Public Investment Fund (PIF) said gross assets under management (AUM) exceeded SAR 2.23 trillion ($594 billion) in 2022, from SAR 1.9 trillion ($528 billion) the previous year. International investments made up 23 percent of its AUM, worth SAR 512 billion ($136.5 billion), while 77 percent were local investments SAR1.717 trillion ($457.8 billion), PIF said in its annual report for 2022. PIF locally deployed SAR 120 billion ($32 billion) in strategic sectors and established 25 co...

The divestment to Sanabil Investments follows efforts to diversify the Kingdoms oil-reliant economy by refocusing government investment on private and oth...

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PIF to create 1.8 million jobs: Governor

RIYADH: Saudi Arabia’s Public Investment Fund has created half a million jobs through its 54 companies operating in 10 different sectors, according to its governor, Yasir Al-Rumayyan. While speaking at the FII Priority Summit in New York on Sept. 22, Al-Rumayyan, who is also the chairman of the Future Investment Initiative, said the ultimate aim of PIF is to generate even more

From expanding primary care to providing more beds and establishing medical cities throughout the country, the private sector is set to play an important role in Saudi Arabia’s ambitious plans to transform health care provision. As set out in its Vision Realization Program, one of the Kingdom’s key health care priorities is to activate private sector participation by advancing

RIYADH: Amazon has announced the launch of the latest iteration of its global Delivery Service Partner program that empowers local entrepreneurs to set up and manage their own logistics businesses delivering Amazon packages. Saudi Arabia is the first country in the region to host the flagship program, which will be expanded to cover the MENA region at a later stage.

JEDDAH: The Saudization Program, officially referred to as Nitaqat, is a nationalization scheme aimed at decreasing Saudi unemployment rates whilst mobilizing human capital to its full potential. The program places qualified and skilled Saudis into work in relevant fields. Minister of Human Resources and Social Development Ahmed Al-Rajhi stated that by the end of 2021, it aims