Riyadh – Mubasher: Saudi Arabia’s Public Investment Fund (PIF) has launched a new subsidiary company office in Paris, as part of a plan to expand its global presence while deepening ties in France which represents a priority international market.
The new office reflects PIF’s approach to engaging closely with local partners, leading businesses and institutional investors, according to an official statement.
President of France Emmanuel Macron, PIF Governor Yasir Al Rumayyan, and other senior officials and business figures will attend the opening ceremony, which coincides with the annual ‘Choose France’ event hosted in Paris.
The addition of Paris also aligns with PIF’s strategy to drive global economies and lead the economic transformation of Saudi Arabia.
Moreover, the PIF which is one of the world’s most long-term impactful investors has created more than 1.10 million direct and indirect jobs domestically and globally.
Between 2017 and 2024, PIF invested $84.70 billion across Europe, adding $52 billion to the continent’s GDP and creating over 254,000 direct and indirect European jobs.
The investments included $8.60 billion in France, which added $4.80 billion to the nation’s GDP and created 29,000 direct and indirect jobs for the French economy.
It is worth noting that the PIF previously opened subsidiary company offices in the US’ New York and the UK’s London, in addition to Hong Kong and Beijing, and has approximately 220 portfolio companies.
Meanwhile, the PIF recently appointed Saad Alkroud as Head of the Local Real Estate Investment Division and Maram Al Johani as Acting Chief of Staff and appointed as Secretary General to the PIF board.
