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PIF Focuses on Achieving ‘Impact’ for Saudi Economy Development

Abdullah Alsalem, PIF’S head of strategy and planning
Abdullah Alsalem, PIF’S head of strategy and planning
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PIF Focuses on Achieving ‘Impact’ for Saudi Economy Development

Abdullah Alsalem, PIF’S head of strategy and planning
Abdullah Alsalem, PIF’S head of strategy and planning

The Saudi Public Investment Fund’s (PIF) strategy focuses on achieving economic impact through operable sectors, said Abdullah Alsalem, PIF’s head of strategy and planning. He added that financial and economic impact analyses are currently being conducted in the Kingdom.

“Sectors are generally viewed from a financial point of view, and in particular from an economic point of view, (and we study) the addition that the sectors provide for the benefit of the Saudi economy,” Alsalem told Asharq Al-Awsat.

Mentioning the military industries sector, which is not growing significantly on a global scale but is vital to Saudi Arabia, Alsalem said: “It is one of the priorities of PIF’s strategy.”

Speaking about balancing between the economic impact and returns, he said: “If investment seeks development, it will achieve economic effects.”

“For example, when establishing a new company and owning contracts with local companies to build factories, this will lead to building jobs and increasing the domestic product, and that is where the impact of internal investments in the Kingdom rests,” explained Alsalem.

The PIF official further asserted that the Saudi private sector is a major PIF partner in developing the Kingdom’s economy.

“PIF sees the private sector as a strategic and important partner,” said Alsalem.

Moreover, Alsalem pointed to PIF having many projects nationwide in Saudi Arabia. These projects are also diverse.

“We have projects in real estate, information technology, and other sectors.”

“Last year, many contracts were announced with the private sector in several of PIF’s projects, such as the Red Sea project, Qiddiya, and other projects.”

Alsalem explained that many financial sector workers had doubted PIF’s ability to reach its goals, saying they were difficult to achieve and presented a significant challenge.

“Without ambitions and targets, there will be no hope, and without hope and dedication, you will not achieve anything, and therefore we were able to reach the targets,” affirmed Alsalem.

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FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
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FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)

Dr. Abdul Hakim Elwaer, Assistant Director-General of the Food and Agriculture Organization (FAO), stated that the organization will take an active role at COP16, the UN conference on combating desertification, scheduled to take place in Saudi Arabia in early December.

In remarks to Asharq Al-Awsat, he expressed confidence that the conference—the first of its kind in the Middle East—would produce significant outcomes.

Elwaer’s comments came during a roundtable organized by FAO’s regional office in Cairo, attended by a select group of media representatives. The session focused on FAO’s participation in the upcoming conference and the importance of the Rio Trio —the integrated framework of the three major UN conventions addressing climate change, biodiversity conservation, and desertification.

Fida Haddad, FAO’s Program Officer for Land Rehabilitation and Climate Change, highlighted the interconnectedness of the three conventions and noted that COP16 would place a strong emphasis on land and water rehabilitation and their sustainable management.

Haddad pointed out that approximately 90% of the Middle East is affected by arid conditions. Despite this, local communities and Arab governments have made notable progress in addressing desertification and drought. She also announced that, for the first time, FAO has successfully placed food systems on the COP16 agenda, enabling discussions on how land rehabilitation can enhance food supply chains and systems.

Elwaer underscored FAO’s central role in achieving the second Sustainable Development Goal (SDG): eradicating hunger. He emphasized that FAO actively engages in the UN conventions on climate change, biodiversity, and desertification, which collectively contribute to this mission.

FAO’s focus, according to Elwaer, is on transforming food and agricultural systems to become more inclusive, efficient, and sustainable, aiming for better production, nutrition, and livelihoods. He highlighted the organization’s success in integrating these priorities into the agendas of the three conventions and collaborating with host countries on joint initiatives.

He further noted that Saudi Arabia’s hosting of COP16 is particularly significant for the region, which faces pressing challenges such as water scarcity, desertification, and food insecurity. The conference presents an opportunity for Middle Eastern nations to highlight these issues, explore solutions, and ensure their inclusion in global environmental discussions, not only at this event but in future COP sessions, he underlined.

Elwaer emphasized the growing global attention on desertification, as it is now impacting regions previously unaffected, such as southern Europe and parts of Latin America. These areas are witnessing alarming declines in arable land and forests, prompting them to seek lessons from the Arab world, which has developed resilience strategies to combat desertification over centuries.

FAO will have a strong presence at COP16, with two dedicated pavilions—one in the Blue Zone for official delegations and another in the Green Zone to engage civil society and conference participants, he said.

He added that in collaboration with Saudi Arabia and the UN, FAO will lead coordination on Food Day and Governance Day, scheduled for December 5 and 6, respectively. The organization will also participate in other specialized sessions throughout the conference.