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Saudi Arabia\u2019s Minister of Economy and Planning, Faisal Al-Ibrahim, stated that investments in Saudi Arabia\u2019s infrastructure sector are expected to reach nearly $1 trillion by 2030, Saudi Gazette reported.<\/p>\n
Such expectation is based on clear economic objectives and long-term private-sector strategies.<\/p>\n
Speaking at the Public Investment Fund (PIF) and Private Sector Forum in Riyadh<\/a>, the minister said that Saudi Arabia\u2019s non-oil sector is also expected to witness a substantial growth by 2026.<\/p>\n In the same context, Al-Ibrahim underscored PIF\u2019s pivotal role in economic growth by through the establishment of funding strategic companies.<\/p>\n Consequently, the fund\u2019s role has evolved over time to include various investments aimed at achieving future returns and growth in assets under management. Moreover, the PIF<\/a> has played a central role in creating new sectors and boosting in the private sector.<\/p>\n The minister also stressed that PIF\u2019s mission goes beyond financial returns, advancing economic knowledge and introducing innovative business models.<\/p>\n Al-Ibrahim underscored PIF\u2019s dedication to developing national talent and human capital.<\/p>\n As for the Saudi Vision 2030<\/a>, the minister stressed the significance of diversifying the economy and cutting dependency on a single revenue source by boosting non-oil sectors and high-value exports.<\/p>\n Related Topics:<\/strong><\/p>\n PIF Invests in Masdar to Boost Saudi Construction Sector<\/a><\/p>\n Global Golf Stars Gear Up for Fierce Showdown at Saudi PIF Women\u2019s Championship<\/a><\/p>\n PIF Strengthens Saudi Arabia\u2019s Insurance Sector with Investment in Re<\/a><\/p>\n