Saudi Wealth Fund Hits Roadblock in Vision 2030 Plans
The Public Investment Fund (PIF), Saudi Arabia's sovereign wealth fund, is facing challenges in funding the kingdom's transformation into a technology and tourism powerhouse. According to insiders, PIF has realized that it cannot continue to fund Vision 2030 alone due to declining oil exports and foreign direct investment.
Foreign direct investment in Saudi Arabia reached $35bn in 2025, short of its goal of $100bn by 2030. The PIF's assets under management fell 1.1% last year to $905bn, while it took an $8bn writedown on infrastructure projects.
As a result, several high-profile projects have been curtailed or cancelled, including the LIV Golf tournament and a luxury ski resort intended for the Asian Winter Games in 2029. The Line, a proposed horizontal skyscraper, has also been largely shelved.