| Saudi Arabia's Public Investment Fund (PIF) aims to establish companies in areas including housing, petrochemicals and technology as it expands its investments locally and overseas, Finance Minister Ibrahim al-Assaf said.
His statement, quoted on Wednesday by the al-Sharq al-Awsat newspaper, was a fresh sign that Saudi authorities plan to use government-owned funds more actively to support economic reforms and development. The PIF was established in 1971 to help finance strategic economic projects. It has assets under management worth about $5.3 billion, according to the Sovereign Wealth Fund institute, which tracks state-run funds...............................................Full Article: Source
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