Saudi Arabia’s investment fund is stepping up, focusing on AI, sustainability, and health, aiming for a major economic makeover and achieving Vision 2030’s bold targets.

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A Future-Focused Plan

Yasir Al-Rumayyan, the head of Saudi Arabia’s Public Investment Fund (PIF), recently spoke at a big event in Miami called the Future Investment Initiative (FII) PRIORITY summit.

He discussed how the fund focuses on important areas like caring for our planet, education, health, smart machines, and robots.

The fund is putting money into companies that work in these areas and working with schools and research groups to help these goals.

Reaching Out to the World

The FII plans to grow its activities worldwide, with events in Brazil and Kenya soon.

These events involve making stronger connections and finding new investment opportunities in Latin America and Africa.

They also want to discuss important topics like protecting the environment and using more renewable energy.

Investing Back Home

Al-Rumayyan pointed out that most of the fund’s money, more than 70%, is being invested right back into Saudi Arabia, helping the country’s economy grow.

These investments are focused on new industries that match the goals of Saudi Vision 2030, a big plan to strengthen the country’s economy and more diverse.

Going International

Even though the fund focuses a lot on Saudi Arabia, it also looks at investments in other countries, especially the United States, where 40% of its international investments are.

Al-Rumayyan said that even though they invest more at home, the money they put into other countries is still growing.

Saudi Arabia as a Tech Hub

Al-Rumayyan is confident that Saudi Arabia can become a world leader in technology, especially artificial intelligence (AI).

He believes the country has many advantages, like access to clean energy, strong support from leaders, money to invest, and talented people.

A Leader in Being Green

Sustainability is important to the fund and Saudi Aramco, the giant oil company.

Aramco is working hard to be green, producing oil much cleaner than others.

The company also focuses on new energy solutions, like blue and green hydrogen, and Saudi Arabia wants to be a big player in hydrogen energy. The country’s solar energy is also very cheap, which gives it an edge in clean energy.

Looking Ahead

Under Yasir Al-Rumayyan’s leadership, Saudi Arabia’s investment fund is working on big goals.

By investing in key sectors, reaching out globally, and focusing on green energy, the fund is helping Saudi Arabia meet its future goals and make a name for itself globally.