Saudi Arabia's Wealth Fund Shifts Focus to Domestic Investments

The kingdom aims to bolster its economy by reducing overseas investments and prioritizing local projects under Vision 2030.

Saudi Arabia's Public Investment Fund (PIF) plans to decrease its international investment share from 30% to 18-20% to focus more on domestic projects.
The PIF, with assets worth approximately $930 billion, will continue to grow its foreign holdings despite the shift in focus.
Vision 2030, led by Crown Prince Mohammed bin Salman, seeks to diversify the economy away from oil and includes ambitious projects like the $500 billion NEOM city.
Saudi Arabia targets $100 billion in foreign direct investment by 2030, though current trends suggest this goal might be challenging to achieve.
The Future Investment Initiative conference in Riyadh serves as a platform for Saudi Arabia to attract foreign investment and showcase its economic transformation efforts.