Saudi Gazette report
RIYADH — Public Investment Fund (PIF) Governor Yasir Al-Rumayyan announced that the sovereign wealth fund will unveil its new strategy “very soon,” marking the next phase in Saudi Arabia’s investment transformation under Vision 2030.

Speaking at the opening session of the Future Investment Initiative (FII) in Riyadh, Al-Rumayyan said the upcoming roadmap will define PIF’s direction from 2026 to 2030, focusing on building dynamic ecosystems that sustain the Kingdom’s long-term growth.

Al-Rumayyan explained that the new strategy is in its final approval stages and will outline six main ecosystems — travel, tourism and entertainment; urban development and livability; advanced manufacturing and innovation; industry and logistics; clean energy and renewables; and NEOM as its own ecosystem. “We are now a nation builder. We want to move in the 2030s to be a nationally aligned investor and asset optimizer, and in the 2040s, a balance-sheet diversifier,” he said.

Tracing the fund’s transformation, Al-Rumayyan said the PIF has grown from managing $150 billion in 2015 to nearly $1 trillion in assets under management today. “The Crown Prince believed the PIF could do even more — and that was the spark,” he said, noting how the fund evolved from a limited developmental institution into a global powerhouse driving Saudi Arabia’s diversification.

Since the launch of Vision 2030, PIF has established over 100 companies across emerging sectors, from advanced manufacturing to tourism and culture, creating more than 1.1 million jobs worldwide — the majority within Saudi Arabia. “We moved from building companies to building ecosystems,” Al-Rumayyan said, emphasizing that the fund’s growth from fewer than 40 employees in 2015 to over 3,000 today reflects its global scale and ambitions.

He added that PIF now operates offices in major international hubs including New York, London, Paris, Beijing, and Hong Kong, in addition to regional offices in Egypt, Jordan, Oman, and Bahrain. “You cannot grow exponentially by doing things ad hoc. You need the right people, the right process, governance, and the right proposition,” he said.

The governor reaffirmed that the fund’s next chapter will prioritize impact and efficiency, aligning capital deployment with national goals while expanding Saudi Arabia’s role as a global investment hub. “It has been a spectacular journey,” Al-Rumayyan said, thanking the global business community for its continued confidence in the Kingdom. “The PIF will remain the cornerstone of Vision 2030, driving the Kingdom’s transformation for decades to come.”