The Public Investment Fund (PIF) of Saudi Arabia is a sovereign wealth fund established in 1971. It plays a crucial role in financing strategic projects that contribute to the development of the Saudi Arabian economy. Here are some key points about the PIF: - Establishment and Role: The PIF was created to support state-owned enterprises and has evolved into a major economic actor in Saudi Arabia, especially since 2015. It provides financing for projects in sectors like energy, minerals, water desalination, and infrastructure[1][3]. - Investment Strategy: The fund invests through equity, loans, or guarantees, focusing on sectors such as telecoms, aerospace, energy, green technologies, and security. It also supports housing finance, renewable energy, and information technology[3]. - Leadership: The PIF is chaired by HRH Prince Mohammed bin Salman, who oversees its long-term strategy and investment policy. Other key members include various ministers and the Governor of the PIF, Yasir Othman Al-Rumayyan[2][5]. - Assets and Impact: As of 2022, the PIF managed assets worth approximately $700 billion and had created over 500,000 direct and indirect jobs. It has established more than 79 companies across various sectors[4][5]. - Vision 2030: The PIF is central to Saudi Arabia's Vision 2030, aiming to diversify the economy and reduce dependence on oil. It supports ambitious projects like NEOM, ROSHN, and the Red Sea project[5].