SACM - Qatar
Permanent URI for this collectionhttps://drepo.sdl.edu.sa/handle/20.500.14154/9663
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Item Restricted The Role of Saudi Arabia’s Public Investment Fund (PIF) in Economic Diversification and Sustainable Growth: Analyzing Investment Strategies and Their Impact on Non-Oil Sectors.(Saudi Digital Library, 2025) Alamro, Yazeed Mohammed; Toraubally, WaseemThe global shift to non-fossil fuel economies puts the resource-dependent nations under pressure to restore their economic foundations. SWFs are therefore increasingly employed as a critical vehicle for driving the growth of non-oil industries and fueling innovation. While most SWFs have previously focused on pure financial returns, this new trend captures a new active function for such funds in national development. To investigate the efficacy of this new model, this research evaluates the relationship between Saudi Arabia's Public Investment Fund (PIF) and key indicators of economic diversification, including the number of companies established, jobs created, and the contribution of non-oil sectors to GDP. Using a quantitative approach, the analysis uses a multiple linear regression model on a ten-year dataset (2015-2024). In addition, a comparative analysis is presented, matching the PIF's strategic mandate against global counterparts Norway's Government Pension Fund Global (GPFG) and the state sovereign funds of Singapore and the UAE. From this analysis and from the literature, several conclusions can be drawn. Preliminary evidence indicates that the growth of PIF is positively associated with employment growth. Comparison with other models shows that the PIF's strategic, developmental mandate falls more in line with funds such as Mubadala and Temasek than the passive, transparency-oriented model of the GPFG. Although this study is tailored to the PIF's developmental intervention, it offers suggestions that can be applied to both strategic investment and longer-term governance. With its hybrid nature, the PIF can reconcile national development objectives with the accountability and transparency of best practice international wealth funds.32 0