Saudi Arabia’s sovereign wealth fund is looking to increase its investments in Japan to about $27 billion by the end of 2030 as the kingdom looks to deepen ties in Asia and expand in areas from critical minerals to financial markets.
The Public Investment Fund (PIF) aims to deploy more capital after investing $11.5 billion in Japan from 2019 to 2024, Gov. Yasir Al Rumayyan said at the FII Priority Asia Summit in Tokyo on Monday. He highlighted spending in public and private markets and predicted recently-launched exchange traded funds between Saudi Arabia and Japan will “go further.”
“Asia is big for us. We want to have better ties, better relationships, better procurement process, access to the supply chain,” Al Rumayyan said. “Japan at some stage was one of the largest partners for Saudi Arabia and we want to get that back.”