20250904 Pif Ar24 Public English Interactive Pdf · Page 10

The VRP is a strategic framework aligning 
PIF’s investments with Saudi Arabia’s national 
priorities. As the driving force behind economic 
transformation, PIF is actively reshaping the 
structure of the Saudi economy by launching 
and growing priority sectors, investing in 
transformative projects and supporting the 
diversification of the country’s revenue base. The 
VRP serves as a blueprint for sustained impact, 
guiding how PIF scales domestic opportunities 
while building a globally competitive investment 
portfolio that drives long-term returns.
Through its strategic pillars – spanning sector 
development, giga-projects, global expansion, 
value creation and institutional excellence – the 
VRP channels capital, expertise and innovation 
toward building a thriving, diversified economy. 
These pillars support PIF’s direct objectives to 
grow its assets, unlock strategic sectors, attract 
investment partnerships and localize future-
facing technologies. With structured funding from 
government capital injections, asset transfers, 
debt instruments and retained earnings, PIF is 
able to deploy significant capital across 13 critical 
sectors ranging from aerospace and health to 
entertainment, renewables and telecom, media 
and technology sectors.
The VRP’s impact is both broad and measurable. 
By year-end 2025, PIF and its portfolio companies 
aim to contribute ª 1.2 trillion in cumulative non-
oil GDP, enable ª 1.2 trillion in cumulative non-
governmental investments and achieve 60% local 
content contribution. In terms of employment, 
PIF aims to support the creation of 1.8 million 
direct, indirect and induced jobs. With targets 
of reaching ª 4 trillion in AuM, maintaining 
a minimum of ª 150 billion in annual local 
investments, and growing the share of assets in 
new and international sectors to 21% and 24% 
respectively, the VRP anchors PIF’s ambition to 
generate lasting impact well beyond 2025.
Financial Performance and Expansion
PIF continued to demonstrate robust 
momentum in 2024, marked by significant 
growth and expanding global presence. By year-
end, PIF solidified its position as the 11th largest 
sovereign wealth fund globally while affirming 
its recognition as the world’s strongest sovereign 
wealth fund brand. 
On the financial front, PIF continued to diversify 
its funding base with successful transactions 
across global capital markets. In 2024, PIF 
raised $9.828 billion (ª 36.855 billion) which 
includes $3.5 billion (approx. ª 13.125 billion) 
sukuk issuances completed by PIF, $5.5 billion 
(approx. ª 20.625 billion) conventional issuances 
and GBP 650 million (approx. ª 3.1 billion and 
approx. $828 million) issuance in sterling, that 
was oversubscribed six times. PIF also secured a 
$15 billion (ª 56.25 billion) revolving credit facility, 
reflecting robust market confidence in its credit 
profile and long-term strategy. These instruments 
enhance PIF’s financial flexibility and support the 
efficient funding of transformational investments 
across Saudi Arabia and internationally.
Enabling Priority Sectors and Building 
National Champions
PIF accelerated its contribution to Saudi 
Arabia’s strategic sectors in 2024 by launching 
transformative national champions and 
expanding the technological capabilities of its 
Saudi investment pools. The establishment of 
Alat, a new PIF-owned sustainable manufacturing 
company, marked a major milestone in positioning 
Saudi Arabia as a global hub for electronics a