The total value of assets managed by the Public Investment Fund in the kingdom of Saudi Arabia exceeded 2.87 trillion riyals (equivalent to 765.6 billion dollars) by December 31, 2023, with a growth of 29% compared to the end of 2022, and the average total shareholder return on an annual basis reached 8.7% since the start of the program to achieve the kingdom's Vision 2030, while the total assets under its management currently stands at 3.47 trillion riyals equivalent to 925 billion dollars.

This came according to the PIF's annual report for 2023, which showed accelerated achievements covering various strategic pillars and sectors in the Kingdom and the world, including transport, mining, real estate, infrastructure, health, telecommunications, technology, tourism and sports, within the framework of its business strategy as a key driver and driver of economic transformation in the Kingdom, and in line with the Saudi Vision 2030 and its position as one of the most influential investors in the world, during which the fund applied in its annual report the global investment performance standards (GIPS®) issued by the CFA Institute, according to which.

The total net cash return for both the investment portfolio aimed at developing and developing promising sectors, and the portfolio of investments in Saudi companies reached 42 billion riyals for the year 2023 (approximately 11.2 billion dollars), which is double the target set at 20 billion riyals (approximately 5.3 billion dollars), while the size of the assets of the portfolio witnessed investments in real estate projects and infrastructure development projects in Saudi Arabia grew by 15% to reach 233 billion Saudi Riyals (equivalent to 62 billion dollars).

The launch of the private sector platform of the Public Investment Fund during 2023 was an important milestone in highlighting the opportunities that allow local companies to align with the mission of the Public Investment Fund and support it, and several major initiatives were revealed with the launch of the platform, including the content development program the local fund "contribution“, and the supplier development program, while providing a better vision for private sector companies, about the opportunities of suppliers and investment with the Public Investment Fund and its portfolio companies.

The new group of companies launched by the fund during the year 2023 had a vital role in enabling promising new sectors, as it launched "Riyadh aviation" as a new national air carrier of the kingdom with international standards, the electric vehicle infrastructure company (EVIQ), to accelerate the pace of dependence on electric vehicles, also launched the pharmaceutical investment company (lifera), to enable the health and pharmaceutical sector, and the companies "country" and"Ardara" to promote the development of the real estate sector.

The fund contributed to the creation of more than 730 thousand direct and indirect jobs during the period between 2018 and the end of 2023, as the total number of direct and indirect jobs created by the first quarter of 2024 reached 763 thousand jobs.

According to the annual report of the Public Investment Fund for 2023, the size of the international investment portfolio reached 586 billion riyals by the end of 2023 (more than 156 billion dollars), with a growth of more than 14% compared to the previous year, exceeding the target set for 2023, as the strategic global investment portfolio plays a fundamental role in enhancing the fund's broad international portfolio, and and long-term capital development, with a focus on impact investments that generate large returns over time, especially in future sectors that contribute to determining the future direction of the global economy, and promote the localization of technology in the kingdom.

The annual report of the Public Investment Fund for 2023 touched upon the strategy of work during 2023 in attracting foreign direct investment to the kingdom, most notably the signing of a joint venture with the Korean automaker "Hyundai" to establish a new factory in the kingdom, a partnership contract with the Italian tire company "Pirelli" to manufacture tires locally to meet local needs and export, and the launch of the joint venture with the Chinese company "Baosteel" to create an integrated complex for the manufacture of steel plates in the kingdom.

The report discussed the ratings he received, including an A1 rating with a positive outlook by Moody's credit rating agency, and an A+ rating with a stable outlook by Fitch credit rating agency.