PIF establishes 35 firms since 2018, creates 366,000 jobs

Logo of the Public Investment Fund

Saudi sovereign wealth fund, Public Investment Fund (PIF), has established 35 companies across strategic sectors since 2018 till date, according to its official Twitter account.

"These new companies have boosted Saudi Arabia’s private sector, unlocked new sectors to diversify the Kingdom’s economy and created 366,000 direct and indirect new jobs," the PIF added.

PIF moved up to the seventh position among the world’s largest sovereign wealth funds (SWFs) for June 2021, with its assets increased to $430 billion, compared to $399.45 billion in May 2021, data compiled by Argaam showed.

#PIF has established 35 companies across 10 strategic sectors since 2018. These new companies have boosted Saudi Arabia’s private sector, unlocked new sectors to diversify the Kingdom’s economy and created 366,000 direct and indirect new jobs. pic.twitter.com/tRnD52RZ7p

— Public Investment Fund (@PIF_en) July 25, 2021