The Public Investment Fund of Saudi Arabia is Interested in Close Cooperation with Kazakhstan, DKnews.kz reports
Ambassador of Kazakhstan to Saudi Arabia Madiyar Menilbekov met with the Chief of Staff and Secretary General of the Board of Directors of the Public Investment Fund of Saudi Arabia Saad Alkroud.
During the meeting, the parties discussed issues of expanding cooperation between Kazakhstan and PIF, including the possibility of implementing joint investment projects in various fields.
Ambassador Menilbekov briefed about the investment potential and socio-economic development of Kazakhstan, and also familiarized with key aspects of the President Kassym-Jomart Tokayev’s State of the Nation Address “Just Kazakhstan: Law and Order, Economic Growth, Social Optimism”.
Saad Alkroud expressed readiness to establish close mutually beneficial cooperation with Kazakhstan and participate in large infrastructure and investment projects implemented in the country.
Public Investment Fund was established in 1971 and is one of the main sources of financing for long-term public projects in the field of industry and infrastructure in the Kingdom and in the region. PIF is one of the TOP-10 largest sovereign funds in the world with total assets of more than 960 billion US dollars, and is also the main engine driving the transformation of Saudi Arabia’s economy within the implementation of “Saudi Vision-2030”. Fund holds the most valuable assets of the country, including the largest energy company Saudi Aramco.
