Riyadh is pivoting its economic playbook, aiming to lure Japanese companies into its ambitious growth orbit. The kingdom’s Public Investment Fund (PIF), valued at nearly $925 billion, is shifting gears from a decade-long emphasis on real estate toward sectors like logistics, mineral extraction, religious tourism, and artificial intelligence.
“Japan has long been one of our key partners, and we’re determined to reignite that relationship,” said PIF Governor Yasir Al-Rumayyan. The sovereign wealth fund has funneled $11.5 billion into Japanese ventures since 2017 and targets around $27 billion by 2030.
The announcement came during the Future Investment Initiative Priority summit in Tokyo, where Al-Rumayyan also unveiled the PIF’s freshly approved five-year strategy guiding investments through 2030.
Saudi Arabia’s pivot signals a clear message: it’s not just about building cities anymore, but about building strategic alliances to drive the next chapter of its economic transformation.
