Saudi Arabia’s public investment funds have retained their sixth position in the world’s top sovereign wealth funds list with assets of $607.42 billion.
According to Arab media, this list has been released by the Institute of Sovereign Wealth Funds of the world, according to which China Investment Corporation tops the list with assets of 1.350 trillion dollars. It is followed by Norwegian Government Pension Fund Global and Abu Dhabi Investment Authority in second and third place with assets of $1.13 trillion and $790 billion, respectively.
Kuwait Investment Authority is fourth with $750 billion while Singapore’s GIC Private Limited is fifth with $690 billion in assets.
Data released by the Institute of Sovereign Wealth Funds also indicated that the total assets of the world’s sovereign wealth funds reached $10.30 trillion by the end of 2022, up from $10.12 trillion in September 2022.
The Saudi Public Investment Fund is playing an important role in achieving the Kingdom’s Vision 2030 goals by leading the country’s economic diversification journey, the report said. which currently owns more than 54 companies in 10 different sectors and has created more than 5 lakh direct and indirect jobs.
The Saudi Public Investment Fund also launched two major companies in 2022, including the Saudi Coffee Company and the Halal Products Development Company.
The governor of the Saudi Public Investment Fund, Yasir al-Rammian, said in early November last year that the fund is planning to create more employment opportunities and we want to create 1.8 million jobs.
Yasir al-Rammian also said in one of his interviews that we want to reach one trillion dollars by 2025. Now we’re about $700 billion short. We need about $400 billion to reach this volume of assets.
