As it is trying to boost private-sector growth and diversify its economy away from crude oil, Saudi Arabia aims to make its Public Investment Fund (PIF) one of the world’s largest sovereign wealth funds and double its assets to US$400 billion (1.5 trillion Saudi riyals) by 2020. The Saudis published the 2018-2020 program of PIG on Wednesday to detail the objectives in domestic and international investments and expected annual returns in each of the fund’s planned investment pools. The program is one of twelve realization programs part of the Vision 2030 plan to diversify the Saudi economy championed by Crown Prince Mohammad bin Salman Al-Saud. “It also seeks to grow PIF into one of the largest sovereign wealth funds in the world, as well as to build strong economic partnerships to deepen and strengthen the impact and role of Saudi Arabia on the regional and global stages,” PIF’s program […]