Saudi Arabia’s PIF generated 8.7% shareholders’ return by end of 2023

RIYADH: Saudi Arabia’s Public Investment Fund generated an average annual shareholders’ return of 8.7 percent by the end of 2023, highlighting its significant role in the Kingdom’s ongoing economic diversification. 

As the nation advances its Vision 2030 agenda, PIF’s performance underscores its pivotal position in reducing the country’s dependence on oil revenues, a core objective of the initiative’s framework. 

The Vision 2030 plan, launched in 2016, aims to transform Saudi Arabia’s economy by reducing its reliance on oil, fostering new industries, and attracting foreign investment. 

Yasir Al-Rumayyan, governor of PIF, emphasized the fund’s mission, highlighting 2023 as a time of significant progress and broad achievement.