This is how Saudi Arabia is investing in its economic future

This is how Saudi Arabia is investing in its economic future

Saudi Arabia is experiencing an economic slump due to the COVID-19 pandemic and the collapse of oil prices.The kingdom's sovereign wealth fund, known as the Public Investment Fund (PIF), has an estimated value of nearly $300 billion.Yasir Al Rumayyan, the Sovereign Wealth Fund's governor, outlined the fund's strategy during the early stages of the pandemic.“We are definitely looking into any opportunities,” expressed Al Rumayyan, identifying a variety of sectors including the airline, gas and oil, and entertainment industries. “They're all put on hold with the stoppage of the economy. So, we think once the economy has opened up we will see a lot of returns.”The fund took advantage of fluctuating prices in the global market and invested in blue-chip stocks related to finance, technology, and also entertainment. Earlier this year, PIF had taken a position in the cruise operator, Carnival.Many of the country's shares have now changed, but some experts are questioning the country's investment habits.“There might be some top-down influence,” said assistant professor Dr. Adeel Malik of Oxford University, citing Saudi Arabia's Crown Prince, Mohammed Bin Salman, and his interest in a stake of the cruise liner as an example.“With that investment, people doubt it was the decision of