Saudi Arabia’s Public Investment Fund (PIF) is reducing its global investments to focus on domestic projects, cutting its overseas share from 21% to a target of 18-20%. PIF governor Yasir al-Rumayyan noted this shift aims to stimulate Saudi Arabia’s economy, especially as oil revenue declines. PIF, which oversees USD930 billion in assets, plans to reach USD2 trillion by 2030. High-profile international holdings like stakes in BlackRock and Carnival have been sold, while domestic projects such as the USD500 billion Neom development are prioritized. PIF is also encouraging co-investments in Saudi initiatives, reflecting a pivot towards a more localized growth strategy.