PIF generated half a million jobs in Saudi Arabia


Saudi Arabia`s Public Investment Fund (PIF) has generated over 500,000 jobs in 13 strategic sectors.

One of the central roles of the PIF is to increase economic and business opportunities in the Kingdom of Saudi Arabia. The PIF is among the world’s largest sovereign wealth funds. It currently manages assets of SAR 2.33 trillion (USD 620 billion).

Since 2016, the PIF has founded over 50 companies including in the real estate, infrastructure, recycling and clean energy sectors and is on track to create more.

The institution intends to create opportunities and possibilities for Saudi companies, accelerate economic growth and improve the domestic supply chain. As a result, several PIF owned companies have recently signed contracts with private sector businesses. These agreements directly benefit Saudi citizens and offer increased employment options. Such companies include NEOM, The Red Sea Development Co., Qiddiya, ROSHN, National Security Services Co., Saudi Arabian Military Industries and the Soudah Development Co.

In addition, the PIF is working with the Shareek program to create private public partnerships (PPPs). It aims to increase the non-hydrocarbon gross domestic product and unlock investments worth SAR 4.99 trillion (USD 1.33 trillion) by the end of this decade.

Furthermore, in line with the Vision 2030, the PIF is also investing in a number of green projects and will develop 70% of Saudi Arabia’s renewable energy. It has recently launched Sudair Solar PV, which will fulfil the energy needs of 185,000 households in the country.

As part of the fund’s renewable energy program, the regional Voluntary Carbon Market (VCM) was developed to achieve the country’s goal of net zero carbon emissions by 2060. It is expected to launch in 2023 and will help companies reduce their carbon footprint by offsetting their carbon emissions.

Business Start Up Saudi Arabia has a network of subject matter experts and specialists to assist with activities throughout the lifecycle of a business in the Kingdom of Saudi Arabia. The activities include Market Research & Assessment Saudi Arabia, Saudi Arabia Business Case, Saudi Arabia Business Model Development, Feasibility Study / Business Plan Saudi Arabia, Organizational & Operational Structuring Saudi Arabia, Saudi Arabia Sponsorship & Partnership, Company Formation Saudi Arabia and many others.

Please click on the link to learn more about the opportunities and possibilities in the Kingdom of Saudi Arabia as well as the initiatives of Business Start Up Saudi Arabia.

Other News

BSUS News 17 - Thumb

Saudi Arabia releases FDI statistics under new methodology

Saudi Arabia`s Ministry of Investment recently released updated statistics detailing foreign direct investment (FDI) into the Kingdom. The new methodology is preferred by the International Monetary Fund...

Read more
BSUS News 16 - Thumb

Saudi`s PIF announces voluntary compliance to aid transparency

Saudi Arabia`s Public Investment Fund (PIF) recently announced it would comply with the Global Investment Performance Standards (GIPS) from the Chartered Financial Analyst (CFA) Institute.

The sovereign...

Read more
BSUS News 15 - Thumb

Saudi Arabia to grant premium residency for regional HQ executives

Saudi Arabia’s Ministry of Investment is offering a premium residency to executives based at regional headquarters. The initiative is part of its ongoing efforts to enhance its business environment and...

Read more
BSUS News 14 - Thumb

Saudi fund to invest SAR 112million in Middle East startups

State owned Saudi Venture Capital (SVC) is investing SAR 112 million (USD 30 million) in a fund that will finance startups and growth-stage companies from Saudi Arabia and the Middle East.


Read more
BSUS News 13 - Thumb

Saudi and UK Ministers discuss trade and cultural co-operation

Saudi ministers recently discussed enhancing co-operation in trade and cultural sectors with their United Kingdom (UK) counterparts on the sidelines of the GCC Ministers of Trade and Industry meeting in...

Read more
BSUSA - Announcement - Thumb

BSUS Congratulates KSA on Saudi National Day 2023

Business StartUp Saudi Arabia would like to congratulate the Kingdom of Saudi Arabia and its people on the occasion of Saudi National Day 2023!

On this day in 1932, the Sultanate of Najd and the Kingdom...

Read more
BSUSA News 11 - Thumb

Saudi tourism revenues reach SAR 37 billion amid travel boom

Saudi Arabia recorded tourist revenue of SAR 37 billion (almost USD 10 billion) as the sector witnessed a massive surplus due to an unprecedented travel boom in the Kingdom.

According to figures released...

Read more
BSUS News 10 - Thumb

Saudi Arabia’s largest solar project receives SAR 8.3 billion

Saudi Arabia`s National Development Fund (NDF) recently announced its participation in financing the largest renewable energy project in the country.

The Shuaiba project is a partnership between Saudi...

Read more

Page Break