Saudi Fund Launches New Companies to Spur Jobs and Diversification
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The Public Investment Fund (PIF) has established over 79 companies and created over 500,000 jobs to drive Saudi Arabia's economic diversification under Vision 2030
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In 2023, the PIF launched several high-profile companies like Dan Co. (ecotourism), Tasaru Mobility (automotive), and Al Balad Development Co. (redevelop historic Jeddah)
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The PIF made strategic investments in international companies like a stake in UK's Rocco Forte Hotels and Heathrow Airport
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New PIF companies aim to boost vital domestic industries like pharmaceuticals (Lifera), sports (SRJ Sports Investment), tourism (Saudi Tourism Investment Co.), camel dairy (Sawani)
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The PIF's bullish investments and new company launches are providing optimism for achieving Saudi Vision 2030 goals and engaging the vibrant workforce