RIYADH: With assets worth $607.42 billion, 海角直播鈥檚 Public Investment Fund has maintained the sixth spot in the list of top sovereign聽wealth funds in the world, according to the latest data.聽
Data released by the Sovereign聽Wealth Fund Institute suggested that China Investment Corp. topped the list with聽$1.350 trillion in assets, followed by聽Norway Government Pension Fund Global and聽Abu Dhabi Investment Authority with assets worth $1.13 trillion and $790 billion respectively.聽
Kuwait Investment Authority ranks fourth with $750 billion, while Singapore鈥檚 GIC Private Limited is placed fifth, with assets of $690 billion.聽
According to the SWF Institute data, the aggregate assets of the world鈥檚 sovereign聽wealth funds hit $10.30 trillion by the end of 2022,聽up from $10.12 trillion in September 2022.聽
The PIF is now leading the economic diversification journey in 海角直播, playing a crucial role to achieve the goals outlined in the Kingdom鈥檚 Vision 2030.聽
Currently, the PIF owns聽71 companies in 10 different sectors and has created more than 500,000 direct and indirect jobs.
Earlier in November, PIF Governor聽Yasir Al-Rumayyan said that the fund is planning to create even more employment opportunities.聽
鈥淲e want to create 1.8 million jobs, and these are quality jobs. It is not only the figures we are looking at, but the quality of these figures, the quality of these jobs,鈥 said Al-Rumayyan.
In October, Al-Rumayyan had said that PIF has a detailed strategy to increase the fund鈥檚 assets to reach between $2 to $3 trillion by the end of this decade. 聽
鈥淲e want to reach $1 trillion by 2025. And we are almost now less than $700 billion, we need close to $400 billion to reach this size of assets,鈥 said Al-Rumayyan, during an interview given to the Thmanyah podcast.
He added: 鈥淲e have a complete plan from now till 2030, on how to reach a trillion and reach between $2 to $3 trillion, and Crown Prince Mohammed bin Salman聽is determined to reach it.鈥
In 2022, PIF also launched two major companies;聽Saudi Coffee Co. and聽Halal Products Development Co.
Saudi Coffee Co. aims to develop sustainable coffee production in the southern Jazan region, home to the world-famous Coffea Arabica, while the HPDC eyes turning the Kingdom into a global halal hub.聽