The Public Investment Fund (PIF) is [[Saudi Arabia]]'s sovereign wealth fund, established in 1971. It serves as the kingdom's main investment vehicle for diversifying the economy away from oil dependence. Under Saudi Vision 2030, PIF has become a key driver of economic transformation with significant investments both domestically and internationally. Key aspects of PIF include: - One of the world's largest sovereign wealth funds - Makes strategic investments in various sectors including technology, entertainment, sports, real estate, and green energy - Invests both within Saudi Arabia and internationally - Focuses on generating long-term returns while supporting Saudi Arabia's economic diversification - Major investments include stakes in companies across various sectors (like technology firms, electric vehicle manufacturers, gaming companies) - Plays a crucial role in developing new sectors and mega-projects within Saudi Arabia The fund is used as a key tool for transforming Saudi Arabia's economy and reducing its reliance on oil revenues, though the majority of its capital still comes from the country's oil wealth.