PIF – Public Investment Fund Program (2021-2025)
Public Investment
Fund program
2021 - 2025
VRP vision
About the Public Investment Fund Program (2021-2025):
• As a leading economic catalyst for the Kingdom PIF Program came to epitomize Saudi Arabia’s vision to diversify the economy and invest locally and internationally. PIF’s strategy seeks to realize this mission by establishing robust economic partnerships to deepen its impact well beyond Saudi borders.
• PIF Program is an impetus for the advancement of Vision 2030, as it endeavors to develop the Kingdom's wealth by contributing to non-oil GDP growth and investing opportunities across diversified sectors.
PIF Program Objectives
Program Objectives
01
Grow Assets
02
Unlock Sectors
03
Build Partnerships
04
Localize Knowledge
Grow the assets of the Public
Investment Fund
Unlock New Sectors through the Public
Investment Fund
Build Strategic Economic Partnerships
through the Public Investment Fund
Localize Cutting-Edge Technology &
Knowledge through the Public Investment
Fund
Targets
and Ambitions
PIF Program aspires to achieve its objectives by 2025
Assets
Under
Management
USD
1.07 Trillion
annually
Domestic
Investment
USD
~40 Billion
at least annually
Share of
Assets
in New and
Growth Sectors
21 %
Jobs
Created
1.8 Million
direct and indirect jobs
Share
of Local
Content
60 %
(Including PIF and its portfolio companies)
Share of
Assets
in International
Sectors
24 %
Non-oil
GDP
Contribution
USD
320
Billion cumulatively
Key Initiatives
2021 - 2025
PIF Key Intiatives
PIF has launched several initiatives that are the cornerstone for realizing Vision 2030 aspirations and representing its ambitions and strategic pillars. these initiatives are:
1
Aerospace & Defense
Grow the Kingdom’s Aerospace sector and solidify its Defense sector
The Defense sector is of strategic importance to Saudi Arabia, showcasing the need to establish domestic military industries at scale that are able to accommodate growing demand, and provide opportunities for PIF along the Aerospace & Defense value chain including military systems and equipment, parts and components, as well as MRO (Maintenance, Repair and Operations) services.
2
Automotive
Develop the Kingdom’s automotive capabilities by localizing R&D and manufacturing of new-age material.
Given that the automotive industry's development at the regional level represents an excellent opportunity for import substitution. Given it is one of the sectors with largest GDP and job multiplier, it would contribute to boost non-oil GDP growth and employment.
3
Transport and Logistics
Promote the Kingdom into a global Transport & Logistics hub
The initiative comes to cultivate connectivity in Saudi Arabia's logistics infrastructure and its operations, increase overall quality, provide services in time, foster the logistics sector's capabilities, and increase the private sector participation. The logistics sector remains a pivotal player in realizing Vision 2030 objectives.

4
Food and Agriculture
Enable the growth of Kingdom’s food and agriculture sector to help achieve a sustainable domestic food production system, diversify external food supply sources and ensure food security resilience
The global packaged food market is a SAR ~9 Tn growing market with shifting trends. The initiative aims to stimulate the growth of the food and agricultural sector in the Kingdom, cementing Saudi Arabia’s position as a hub for the Halal industry and distribution center to the world, leveraging current and new partnerships with leading players in food, pharmaceuticals, and cosmetics.
5
Construction and Building Components and Services
Solidify the Kingdom’s position as a leader in the Construction & Building Components and Services for the Real Estate sector
As part of PIF efforts to diversify the Saudi economy, this initiative aims to solidify the Kingdom’s position as a leader in the construction and building components and services for the Real Estate sector through securing the supply chain of Real Estate projects focusing on strategic products/ services, e.g., construction services, equipment, heavy machinery, concrete, etc.
6
Entertainment, Leisure, and Sports
Diversify and enrich Entertainment, Leisure & Sports experiences in the Kingdom to create a more vibrant society
This initiative aims to diversify and enrich the tourism and entertainment experience in the Kingdom to build a more vibrant society and solidify the sports sector's economic and social role on all levels. The Kingdom is focused on developing the entertainment, leisure & sports sector by creating new destinations and digitizing gaming content, to allow the Kingdom to grow internal tourism and reach its target of overnight visitors by 2030. The sports sector is one where PIF assessing its investment opportunities in line with its investment mandate and assessment criteria
7
Financial Services
Support the growth of the financial sector, a key enabler of the Kingdom’s vision 2030
The progressive growth of the financial sector is a key enabler of the Kingdom's Vision 2030. This initiative aims to support the growth of leading financial services agencies, enabling them to transform into a cashless community, and contributing to their ambitions consistent with the “Financial Sector Development Program”. PIF will join-forces with SAMA, SIDF, and other relevant entities.
8
Real Estate
Giga-Projects
  • Develop NEOM Project.
  • Develop Red Sea Project.
  • Develop Qiddiya Project.
  • Develop Roshn Project.
9
Utilities and Renewables
Leverage the Kingdom’s natural potential to grow the utilities and renewables sector
The Utilities & Renewables sectors have become increasingly relevant for the world today, as the United Nations defined “Climate Action” and “Affordable and Clean Energy” as two of the sustainable development goals (SDGs) for the world until 2030. This initiative is expected to add Saudi Arabia domestic capacity in utilities and renewables, adopt clean technologies to reduce the Kingdom’s carbon footprint while maximizing financial return and developmental impact.
10
Metals and Mining
Support the growth of the metals and mining sector, a key enabler of the Kingdom’s Vision 2030
Saudi Arabia is endowed with healthy mineral reserves, which are currently under-explored. The metals and mining sector is one of the most promising, so Saudi Arabia strives to increase the sector’s economic contribution as part of Vision 2030, making mining the third pillar of industry alongside oil and gas and petrochemicals. This initiative is in line with NIDLP’s goal becoming a leading producer and exporter of fertilizers. PIF’s role in enabling the goals set out in Vision 2030 for the sector will be through Ma’aden (Saudi Arabian Mining Company).
11
Healthcare
Stay at the forefront of innovation to improve Healthcare sector
Healthcare is one of essential priority sectors in Saudi Arabia, with enormous opportunities for growth. PIF seeks through this initiative to become a vital enabler of the sector and seeks to drive the utilization and alignment across healthcare services and products in collaboration with the private sector.
12
Consumer Goods and Retail
Unlock the development and growth of the retail and consumer goods sector
The initiative is expected to enable the development of the retail and consumer goods sector through the continued growth of Noon as a national e-commerce champion that can compete globally and as a regional powerhouse. Beyond core e-commerce, this initiative aims to support the development of Noon as the “Home screen of the Arab World” - a synergistic ecosystem of digital services around core e-commerce ranging from fintech services, digital consumer services, digital entertainment & media to digital advertisements. In addition to planned improvements in the logistics sector, the initiative seeks to increase the size of the e-commerce and logistics ecosystem in the region. To continuously raise the quality and efficiency of delivery.
13
Telecom, Media, and Technology
Develop the Kingdom’s innovation capabilities by localizing technology sector and developing Telecom & Media sector
Given the preeminent influence of the media and telecommunications sectors' growth in the Quality of Life program, this initiative intends to support the Kingdom to become a globally competitive hub of Technology, Media, and Telecom. To achieve such objectives, PIF will closely work with its portfolio companies to develop opportunities in various sectors by working with all relevant authorities.
PIF
Strategic Sectors
Aerospace & Defense
Automotive
Transport and Logistics
Food and Agriculture
Construction & Building Components and Services
Entertainment, Leisure & Sports
Financial Services
Real Estate
Utilities & Renewables
Metals and Mining
Healthcare
Consumer Goods and Retail
Telecom, Media and Technology
Key Achievements
Up To 2020
PIF has delivered significant breakthroughs since its transformation within Vision 2030 and its association with the Council of Economic and Development Affairs in 2015. During 2018- 2020, PIF has tackled many challenges and contributed to making a clear impact locally and globally, the most prominent of which are:
Growing AUM
with USD 150 Billion in 2015, reaching nearly USD 400 billion in 2020
Achievements
Up To 2020
Doubling the total shareholder return from around 3% between 2014-2016 to 8% in 2018-2020
2018-2020
8.0%
2014-2016
3.0%
Established more than 30 companies in 10 strategic sectors
Generating more than 331,000 direct and indirect jobs
Being the anchor investor of the largest private investment fund, and the largest infrastructure project ever