Governor of Saudi Sovereign Fund: We are committed to all our investments and strategies worldwide

SadaNews - Yasser Al-Rumayyan, the Governor of the Saudi Public Investment Fund, confirmed that the fund will remain committed to all its investments and strategies across the globe, despite the geopolitical conditions affecting the region, noting that the fund is "a long-term investor and is characterized by patience".

Al-Rumayyan's remarks came during the opening of the "Priorities-Europe 2026" summit in the Italian capital, Rome, organized by the "Future Investment Initiative" (FII), where he also disclosed that the Saudi sovereign fund has "invested approximately 98 billion euros in Europe and the UK between 2017 and 2025, contributing about 70 billion euros to GDP and creating around 160,000 jobs across the continent".

He revealed that the current summit will announce 140 investment opportunities in Europe, currently under study by the fund, earmarked with a total investment value of 10.4 billion euros until 2030.

Al-Rumayyan had predicted last year that the fund's investments and purchases in Europe would double to 170 billion dollars, emphasizing Europe's pivotal role in the global investment strategy, noting that the ability to predict and regulatory clarity are key to long-term commitments.

On the other hand, the Governor of the Saudi Sovereign Fund highlighted the existence of challenges hindering investment in Europe, explaining that "the main challenges are primarily regulatory challenges, along with some proposed laws that harm investors like us, as well as those concerning 'Aramco' and 'SABIC'. This affects not only new investments but also current investments in Europe".

The "Hormuz" Crisis and "Aramco"

Regarding the crisis in the Strait of Hormuz, Al-Rumayyan considered that it is not limited to the region or energy supplies but has extended to various sectors affecting the whole world. He disclosed the Kingdom's intention to establish major oil storage facilities worldwide.

He said: "Aramco has storage facilities around the world, especially in Asia, South Korea, and Japan, and we are seriously considering expanding our storage capacities by establishing larger facilities in various global markets".

Read also: Saudi Arabia expands its oil storage in South Korea as the Hormuz crisis brings strategic reserves back to the forefront.

Al-Rumayyan, who also heads the board of directors of "Aramco", noted that the oil giant has invested 80 billion euros with European suppliers, of which about 25% is in Italy alone.

Continuing International Investments

The fund announced at the beginning of this year a new strategy for 2030, aiming to shift from building strategic sectors to achieving integration in economic systems and accelerating growth, placing the private sector as a partner in value creation, not merely a contractor for projects. This strategy aligns with the third phase of the Kingdom's vision, opening avenues for deeper partnerships in long-term investments.

In the new strategy, the fund's investments are distributed among three investment portfolios: the "Vision Portfolio," the "Strategic Investments Portfolio," and the "Financial Investments Portfolio."

Al-Rumayyan pointed out that the new strategy does not mean the fund will stop injecting investments internationally, but will continue, albeit at lower proportions, in light of the continuous growth of its assets.

He said: "Many believed we would stop injecting investments internationally... I assure you we will not stop. We will continue to inject investments, perhaps the proportions will be less, but the absolute figures will continue to grow as long as we have continuous growth in the size of assets under management".

The fund's assets have seen accelerated growth over the past decade, rising from about 720 billion riyals in 2017 to 3.4 trillion riyals by the end of last year, targeting 10 trillion riyals by 2030, according to the annual report of Vision 2030.