Saudi Arabia is drawing global attention from clients of US asset manager BlackRock due to strong demand for infrastructure investments. BlackRock has invested over $15 billion in natural gas pipelines in the country and sees appealing investment opportunities ahead.
- Saudi Arabia's Public Investment Fund (PIF) and BlackRock signed an agreement in November to jointly explore infrastructure projects in the Middle East, primarily focusing on the Kingdom. This aligns with the PIF's goal of expanding its domestic and regional investment portfolio while boosting the participation of the Saudi private sector.
Why it matters
PIF is crucial for Saudi Arabia's economic diversification under Vision 2030, aiming to increase foreign direct investment contribution to GDP from 0.7% to 5.7% by 2030. Initiatives like Invest in Saudi and a new business visa support efforts to attract foreign funding.