Saudi Arabia Eyes $2.4 Trillion in Private Sector Investment with Strong Backing from PIF 

Riyadh – Saudi Arabia has outlined a bold strategy to attract SAR 9 trillion ($2.4 trillion) in private sector investment, beginning with a SAR 3 trillion contribution from the Public Investment Fund (PIF). This initiative marks a major step in the country’s long-term economic diversification under Vision 2030. 

Unveiled by Faisal Al-Ibrahim, Minister of Economy and Planning, during the PIF Private Sector Forum in Riyadh, the plan highlights the critical role of private enterprise in shaping the Kingdom’s future. Al-Ibrahim emphasized that while the government remains a key facilitator, it is the private sector that must take the lead in advancing large-scale development—particularly in infrastructure. 

Over the next seven to ten years, Saudi Arabia anticipates approximately $1 trillion in infrastructure investments. While PIF’s early involvement is expected to accelerate momentum, the minister stressed that long-term success depends on the active participation of private companies. The Fund’s early-stage investments are meant to serve as a model, inspiring private firms to step in and scale projects further. 

Al-Ibrahim underlined that incentives will continue to play a role, but companies must shift their focus toward developing internal capabilities and aligning with the Kingdom’s broader strategic goals. Businesses, he noted, are seeking clarity in national plans—especially as they look to invest confidently in future opportunities. 

The minister cited strong performance in sectors like healthcare, where Saudi professionals and companies have already gained global recognition, as a sign of growing domestic capacity and talent. 

Since the launch of Vision 2030, the private sector’s contribution to GDP has grown from under 40% to 46%, and this figure reaches 65% when including PIF-supported projects. Al-Ibrahim voiced optimism about continued progress in non-oil sectors, driven by private-sector-led initiatives that support a more balanced and resilient economy. 

Through collaborative efforts between government entities and businesses, Saudi Arabia aims to emerge as a global investment destination with a sustainable and diversified economic foundation.