São Paulo – Saudi Arabia’s Public Investment Fund (PIF) has created half a million jobs through its 54 companies operating in ten different sectors, according to its governor, Yasir Al-Rumayyan (pictured), Arab News reported in its website.
While speaking at the Future Investment Initiative Institute (FII) in the United States, Al-Rumayyan, who is also the chairman of the FII, said the ultimate aim of PIF is to generate even more employment opportunities. The goal is creating 1.8 million quality jobs.
He added that PIF is playing a major role in stimulating the Saudi economy. Al-Rumayyan further noted the PIF has a dedicated initiative to ensure that targets outlined every five years are being fulfilled, and it will also outline goals for the upcoming half-decade cycle.
The wealth fund has a public document on its website called the Vision Realization Program, and in this document, it says what it wants to do in the coming five years. The PIF governor noted that the Saudi wealth fund has six pools of investments; four pools that invest domestically and two pools that invest internationally.
Translated by Guilherme Miranda
