Yasser Al-Rumayyan, Governor of the Public Funding Fund
He stated Yasser Al-Rumayyan governor Public Funding FundThe worth of the funding fund has elevated three-fold since 2015, and our objective is to achieve one trillion {dollars} by the tip of this 12 months, and we’re very near attaining that.
He stated that the Public Funding Fund was the cornerstone of Saudi Imaginative and prescient 2030, and the variety of its workers elevated from about 40 folks in 2015, to 4,000 folks now, and we’ve got workplaces in main worldwide cities.
We have now created greater than 100 completely different firms, in lots of numerous sectors, as we tried to fill the gaps within the sectors.
He stated that it’s hoped that the fund’s new technique might be introduced, and we’re within the closing phases of acquiring all approvals.
He stated that the technique consists of specializing in 6 proposed primary sectors, that are: tourism, journey and leisure, city growth, superior manufacturing and innovation, the logistics sector, renewable power, and NEOM.
This will help us prioritize our timelines, and we do not wish to undergo each funding with the identical precedence.
Al-Rumayyan famous the Fund’s means to realize achievements in King Abdullah Financial Metropolis, which was a part of the Fund’s portfolio, the place it owned a small share and have become a majority share. That firm had existed for about twenty years, and it was a dormant and inactive firm, so the Fund took it and tried to revitalize it in a number of methods, together with bringing in ports, firms, the car business, and others.
