Saudi Arabia’s Public Investment Fund (PIF) expects investments in Europe to surge to $170 billion by 2030, Governor Yasir Al-Rumayyan said during his participation at the FII Priority Summit in Albania.
Between 2017 and 2024, the sovereign wealth fund invested $84.7 billion across Europe, adding $52 billion to the continent’s GDP and creating over 254,000 direct and indirect European jobs.
These investments included $8.6 billion in France, which added $4.8 billion to the nation’s GDP and created 29,000 direct and indirect jobs for the French economy.
Economic impact of PIF’s investments to reach $105 billion by 2030
Al-Rumayyan also expects the economic impact of the PIF’s investments in Europe to reach $105 billion by 2030. However, he said that some European regulations are anti-investment, hoping that some of the European countries’ leaders will push for changes in these regulations and make them more business-friendly. “The potential in Europe is really great,” he added.
Following this announcement, the PIF revealed that it is opening a new subsidiary company office in Paris, expanding its global presence and deepening ties in France, a priority international market. The new office reflects PIF’s approach to engaging closely with local partners, leading businesses and institutional investors.
French President Emmanuel Macron, Al-Rumayyan and other senior officials and business figures will attend the opening ceremony, which coincides with the annual “Choose France” event hosted in Paris.
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Paris office to further strengthen partnerships in Europe
PIF is an active, long-term investor in the world’s most innovative and transformational industries, businesses and markets. This new office will enable PIF to further strengthen its partnerships in Europe.
The addition of Paris also aligns with PIF’s strategy to drive global economies and lead the economic transformation of Saudi Arabia. As one of the world’s most impactful investors, PIF has created more than 1.1 million direct and indirect jobs domestically and globally.
PIF is also committed to building new partnerships with a diverse range of leading international institutions. The sovereign investor has previously opened subsidiary company offices in New York, London, Hong Kong and Beijing, and has approximately 220 portfolio companies.
