Saudi Arabia’s PIF projects to create over 20,000 jobs by 2020: MD

RIYADH (Reuters) – Saudi Arabia’ Public Investment Fund (PIF), the country’s main sovereign wealth fund, expects to create over 20,000 jobs by 2020 through its projects, the fund’s managing director said on Tuesday.

Yasir Al Rumayyan was speaking at a major investment conference in the capital Riyadh.

As part of Saudi Arabia’s economic reforms announced last year, the Saudi government plans to expand the PIF, founded in 1971, to finance development projects in the country.

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