Saudi newspapers highlighted in their editorials today a number of issues at local, regional and international arenas. Al-Riyadh newspaper reported in its editorial that in light of Saudi Vision 2030, the Public Investment Fund (PIF) has a pivotal role in development and economic reforms programs. The PIF has adopted new ideas and different working mechanisms aimed at diversifying sources of income and establishing qualitative projects that eventually led to restructuring the public investment sector based on global foundations. Therefore, the Public Investment Fund in a few years has become one of the key engines to achieve the goals and aspirations of Vision 2030. Over the recent period, it achieved most of its objectives. For instance, the PIF succeeded in supporting the national economy with SAR 311 billion during the period from 2016 to 2020. As Saudi Vision 2030 was launched in 2016, the PIF specifically determined its goals, priorities and working mechanisms to boost investments. In the next stage, it moved to the implementation which is carried out according to field studies and scientific recommendations. Therefore, all of the PIF's projects were successful, and focus of attention at regional and global levels. The world has witnessed how the Kingdom of Saudi Arabia has improved its economy, worked to diversify the economy and reduce reliance on oil, the newspaper added. Since the Fund's general mechanisms of working are perfect, its general strategy was also the same. The strategy works on empowering the private sector. The PIF has been working on providing more opportunities for local companies to contribute to its projects. This is in addition to supporting local suppliers, and increasing the localization of imported goods and services, the newspaper further added. The Public Investment Fund is also interested in the global energy sector. As a result, it has been keen on establishing a sustainable sector in the generation of renewable energy through investments implemented with leading companies in this field and with the participation of the private sector. In this regard, the Fund has achieved exceptional successes through generating 331,000 direct and indirect jobs in the local market. By 2025, Public Investment Fund aspires to provide about 1.8 million direct and indirect jobs, the newspaper concluded.
