US EditionSaudi Arabia wealth fund set to announce strategy revamp, sources say
The Public Investment Fund will prioritize AI, minerals, and manufacturing to address fiscal pressures, scaling back mega projects like The Line, the fund said.
- On Monday, the Public Investment Fund soft-launched its 2026-2030 strategy with key investors in Riyadh, marking a shift from Crown Prince Mohammed bin Salman's Vision 2030 megaprojects.
- Officials say the pivot is driven by mounting fiscal pressures and aims to wean Saudi Arabia off oil revenue while attracting capital from global asset managers to boost competitive sectors.
- The Line, the Mukaab and Trojena have been redesigned, suspended or downsized amid delays and ballooning costs, while NEOM shifts toward renewable energy and Humain received Nvidia AI chips in December.
- Companies face increasing pressure to localise or base HQs, prompting Ceer to sign 16 deals worth roughly $1bn to localise EV manufacturing in Saudi Arabia.
- The new blueprint positions Saudi Arabia to attract industrial and AI investment, with NEOM shifting toward renewable energy, green hydrogen, and sea-cooled data centres as mega projects are reviewed.
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Saudi Arabia wealth fund set to announce strategy revamp
Saudi Arabia's $925 billion Public Investment Fund (PIF) plans to announce a new five-year strategy this week, two people with direct knowledge of the matter said, in the biggest reset yet of Crown Prince Mohammed bin Salman's economic transformation plan. The Saudi sovereign wealth fund soft-launched its new 2026-2030 strategy with key investors and strategic partners on Monday on the sidelines of a conference in Riyadh, the two people and anot…
Saudi Wealth Fund to Unveil Revised Strategy
Saudi Arabia’s $925 billion Public Investment Fund (PIF) is set to unveil a new five-year strategy this week, marking a significant change in Crown Prince Mohammed bin Salman’s economic plan. This strategy, aimed for 2026-2030, was previewed to key investors and partners during a conference in Riyadh. The new approach will focus on sectors like […] The post Saudi Wealth Fund to Unveil Revised Strategy appeared first on Modern Diplomacy.
Exclusive: Saudi Arabia wealth fund set to announce strategy revamp, sources say
Saudi Arabia's $925 billion Public Investment Fund (PIF) plans to announce a new five-year strategy this week, two people with direct knowledge of the matter said, in the biggest reset yet of Crown Prince Mohammed bin Salman's economic transformation plan.
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