Rajeev Misra, CEO of SoftBank Investment Advisers, which runs the Vision funds, told Arab News that relations between the funds and the PIF
are extremely close.
Mustafa said that PIF
established companies to develop these projects.
As reluctance on the part of foreign investors to inject money into the nation would prompt the PIF
to shoulder much of the burden of major infrastructure projects in Saudi Arabia, the USD300bn fund will find it hard to resume its previous pace of overseas investment.
and the government, it is of utmost importance to involve the private sector.
Secretary-General Dame Meg Taylor created unease earlier this month by suggesting Pacific island nations forge bilateral deals with larger countries and consider a new formal dialogue between the PIF
is not only going to be in Riyadh and we are working to opening up in London, New York, and potentially San Francisco and may be other cities where we feel that we should be closer to our businesses over there," said Yasir Othman Al Rumayyan, managing director and member of the board, PIF
speaking at Milken Institute Mena Summit on Wednesday.
The centrepiece of PIF
's work in 2018 has undoubtedly been Neom, the mega city that was launched at the Future Investment Initiative conference held in Riyadh in 2017.
commented that Wadi Al Disah's elevation is 400 m above sea level with temperatures ranging from 12AC to 31AC and the project aims to contribute to the development of the tourism sector in the Kingdom, preserve cultural and environmental heritage, and achieve sustainability in line with Vision 2030.
Through the PIF
sovereign fund, the Saudis already have strong shareholdings in an array of high-profile startups, including Wag, DoorDash, WeWork, Plenty, Cruise, and Katerra.
is already a major investor in the first Vision Fund, and
Saudi Arabia's Public Investment Fund (PIF
) has announced an investment deal worth more than $1bn with Tesla rival Lucid Motors.
Summary: Lebanon-based engineering company Sets was awarded a major contract by Saudi ArabiaEe's Public Investment Fund (PIF
) to provide traffic and transport consultancy services for the King Abdullah Financial District (KAFD) project in Riyadh.