PIF pivots its focus to domestic growth

The Public Investment Fund’s performance last year is leading the conversation on Saudi in the foreign press: The Financial Times came out with a piece on how the PIF is transitioning from a major global investor to focusing more on domestic projects, signaling a shift away from being a straightforward source of capital. With falling oil revenues and rising domestic development needs, the PIF is now placing more emphasis on ramping up local employment, along with reinvestment in the kingdom. Meanwhile, CNBC took note of some of the most significant KPIs mentioned in the fund’s annual report for 2023 (watch, runtime: 1:00).