Saudi Arabian State Sovereign Fund has risen to sixth place in the ranking of the world’s largest state funds, with assets reaching $607.42 billion at the end of 2022. About informs Exchange portal.
The publication noted that according to the strategy of the State Fund of Saudi Arabia, the size of assets should double by 2025 and reach at least $1.06 trillion. At the same time, this figure should rise to $2.7 trillion by 2030, according to plans.
First place in the rating went to China Investment Corporation, which has assets of $1.35 trillion. Compared to September 2021, the fund’s assets increased by $129 billion, while Norway fell to second place with $1.13 trillion. Assets decreased by 133 billion dollars in the specified period.
At the same time, as of September 2022, the total asset volume of state wealth funds in the world was 10.12 trillion dollars, while in September 2021 it was 10.3 trillion dollars.
Abdel Aziz bin Salman Al Saud, head of the Ministry of Energy, at the end of November knowledgeableSaudi Arabia would invest at least $769 billion in energy projects. According to him, to implement three-quarters of all projects will require investments of 260 billion riyals ($69 billion) over the next 10 years.