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Saudi Arabia’s global investments exceed $1.1trn

Saudi Arabia’s global investments exceed $1.1trn
PIF aims to raise its assets to more than $2 trillion by 2030

Riyadh – Mubasher: Saudi investment assets abroad grew by 8.86% or SAR 346.94 billion ($92.5 billion) to reach SAR 4.26 trillion ($1.14 trillion) by the end of the third quarter (Q3) of 2019, as shown by the Saudi Arabian Monetary Authority’s (SAMA) most recent data.

Saudi assets abroad consist of various investments, such as foreign direct investment (FDI), portfolio investments, as well as reserve assets.

The growth in Q3-19 was largely attributed to a 21.3% year-on-year (YoY) increase in FDI by around SAR 75.22 billion to SAR 428.12 billion.

Portfolio investments also went up by around 19% YoY or SAR 166.23 billion to SAR 1.041 trillion.

Meanwhile, investments in foreign debt instruments grew by 4.3% YoY by the end of September 2019 to SAR 282.38 billion.

The Public Investment Fund (PIF) aims at increasing its asset portfolio to more than $2 trillion by 2030.

Back in June, Saudi Crown Prince Mohamed Bin Salman revealed that between 2016 and 2018, the number of employees at PIF surged from 40 to around 500, with the asset portfolio expanding from around SAR 500 million to roughly SAR 2 trillion.