Saudi Arabia’s Public Investment Fund (PIF) has inaugurated a subsidiary office in Paris, marking a strategic move to deepen its investment footprint in Europe. The opening coincides with France’s annual ‘Choose France’ summit, aimed at attracting foreign investments.
The new Paris office is part of PIF’s broader strategy to engage more closely with European partners and institutional investors. The move aligns with PIF’s goal to increase its investments in Europe to $170 billion by 2030, up from $84.7 billion between 2017 and 2024. These investments have contributed $52 billion to Europe’s GDP and created over 254,000 jobs across the continent.
In France, PIF has invested $8.6 billion, adding $4.8 billion to the national GDP and generating approximately 29,000 jobs.
PIF’s expansion into Paris follows the establishment of offices in New York, London, Hong Kong, and Beijing. The fund manages a diverse portfolio of approximately 220 companies and aims to play a pivotal role in Saudi Arabia’s economic transformation under Vision 2030.
The ‘Choose France’ summit, where the office inauguration took place, is expected to secure EUR 37 billion ($41.3 billion) in foreign investments, including EUR 20 billion in new deals.
