Saudi Crown Prince Mohammed bin Salman has commented that the Kingdom offers investment opportunities worth $6 trillion over the next decade.
According to his speech at the World Economic Forum, which took place on Wednesday, these investment opportunities are part of the prince’s Vision 2030 which will see Saudi Arabia transform from a Kingdom dependent on oil into a global investment powerhouse.
The Public Investment Fund (PIF) acts as the country’s main vehicle and boosts a number of investments both within the Kingdom and abroad. The PIF has been set up with plans to create new sectors that would create millions of jobs for Saudis, whilst developing a number of domestic projects. The PIF will finance 85 per cent of future investment opportunities while the remaining 15 per cent will be financed from capital investments.
To date, the PIF has invested in a number of significant giga-projects such as NEOM, a high-tech economic zone and Qiddiya, an entertainment park located outside of Riyadh.
