In this Wednesday, Feb. 9, 2011 file photo, Saudi Arabian city view with the 'Kingdom Tower', background, and 'Al-Faislia Tower' in Riyadh. Saudi Arabia’s stock exchange has opened up to direct foreign investment for the first time. The decision to open up the Tadawul stock exchange on Monday comes at a crucial time for Saudi Arabia, whose revenue has taken a hit from the plunge in oil prices over the past year. The kingdom is the world’s largest exporter of crude. (AP Photo/Hassan Ammar, File)

Saudi King Salman issued a directive, upon a recommendation of the Council of Economic Affairs and Development, allocating an amount of SR 100 billion. (AP)

King Salman allocates SR100 bn for Saudi Public Investment Fund

Saudi King Salman issued a directive, upon a recommendation of the Council of Economic Affairs and Development, allocating an amount of SR 100 billion

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Saudi Press Agency

Published: 30 November ,2016: 12:00 AM GST Updated: 20 May ,2020: 10:50 AM GST

Saudi King Salman issued a directive, upon a recommendation of the Council of Economic Affairs and Development, allocating an amount of SR 100 billion from the Kingdom’s reserves for the account of the Public Investments Fund (PIF) aiming to diversify the investment portfolio and improve the revenues of investment.

PIF explained that, according to its investment strategy, the PIF will focus over the coming period on a number of promising opportunities in the domestic and international markets, particularly some expected high yields opportunities in the local market that supports the private sector investments and promote economic growth and local contents.

The allocated fund would be invested according to specific periodic phases and in light of the Kingdom’s vision 2030 and its objectives. Such investments are expected to have a positive role on the overall investments revenues and the diversification of the national income resources as well.

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