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The Kingdom of Giga Projects

Empowering a nation with a Global impact

PIF AUM objective for 2030

7.5 trillion SAR

The Public Investment Fund has Assets Under Management worth over 620bn USD across 13 strategic sectors with investments in over 66 companies so far. The fund has already created over 500,000 jobs so far.

The PIF aims to invest a total of 4 trillion SAR by the end of 2025 and almost double this amount to reach 7.5 trillion SAR by 2030 to increase the annual non-oil GDP by approximately 7%.

Surplus on National Budget

103.9bn SAR

The Saudi national budget had an estimated surplus of 90bn SAR in 2022. However, the actual announced surplus of 103.855bn SAR in March 2023 surpassed the estimated surplus. This demonstrates the Kingdom’s commitment to maintaining a strong and stable economy, with a focus on investing in strategic sectors such as health, education, and defense. Additionally, the surplus provides ample opportunities for local and foreign investors to tap into the growing economy and achieve their business objectives.

nvestment target for 2030

12 trillion SAR

One of the key objectives of Vision2030 is attracting local and foreign investment with a total value of 12 trillion riyals to be of the top 15 economies in the world by 2030.

The Kingdom has performed multiple reforms to the investment and commercial scenes with an expected contribution to GDP of 6.4 trillion SAR from local and foreign direct investments only by 2030.

The budget of The Line by NEOM

750bn SAR

The Line is a smart, linear city by the Red Sea that is aimed to create +460,000 jobs and contribute over 48bn USD to the GDP by 2030. The city is planned to have a population of about 9m people.

The Line is planned to be 170 kilometers long and preserve 95% of the nature within Neom. It will be entirely powered by renewable energy.

Spending on Health and Social Development

226.6bn SAR

Investing in the health and social development of our citizens is a top priority for the Kingdom of Saudi Arabia. In 2022, the government spent 226.637bn SAR towards ensuring that all members of society have access to high-quality healthcare services and social support programs. This represents a 19.5% share of the total national spending for the year, exceeding the originally allocated amount of 138.236 bn SAR

Spending on Education

201.5bn SAR

Saudi Arabia prioritizes the development of its human capital, and as such, education is at the forefront of national priorities. In 2022, the country allocated 201.523bn SAR for education, providing access to quality education for all. The benefits of this investment will be seen for generations to come, as a well-educated population will drive innovation, foster economic growth, and contribute to the overall development of the country.

Looking forward, Saudi Arabia remains committed to investing in education, with a projected spending of 189bn SAR in 2023.

Spending on Military

228.1bn SAR

In 2022, Saudi Arabia allocated 171.43bn SAR to its military, making it the 7th highest spender in the world. However, actual spending exceeded this amount, reaching 228.067bn SAR. Looking ahead to 2023, the projected military budget is even higher at 259bn SAR.

Despite this significant expenditure, Saudi Arabia is committed to nationalizing 50% of its military manufacturing and service, as part of its strategy to become one of the safest countries in the world.