Toqaev held a meeting with the head of the Saudi Arabian State Investment Fund's regional office.
In the realm of global finance, the Saudi Arabian Public Investment Fund (PIF) continues to make waves, with a focus on long-term returns and economic diversification. As of 2024, the PIF's assets under management stand at a staggering $1.15 trillion, with ambitious plans to reach $2 trillion by 2030 [1].
The Crown Prince of KSA, Mohammed bin Salman, serves as the Chairman of the PIF's Board of Directors. The fund's strategic shifts are evident, prioritising liquidity and scalable, revenue-generating assets over mega-projects. This new approach has led to increased investments in AI infrastructure, exchange-traded funds (ETFs), and partnerships with global asset managers [1].
Domestically, the PIF has been instrumental in projects such as Diriyah Square, part of Saudi Arabia's giga-projects, and investments in US real estate, including a $1 billion tower in New York City [2][3]. The fund also supports the Neom mega-project, with a focus on clean energy vehicles and a review of its ambitious "The Line" city project [4][5].
However, when it comes to investments in Kazakhstan, the latest information does not provide specific details. Despite the PIF's global activity and significant investments both in Saudi Arabia and internationally, including the US and technologically advanced mega-projects at home, no explicit mentions of Kazakhstan can be found [1][2][3][4][5].
President Tokayev has expressed interest in mutually beneficial cooperation with the PIF in various fields. The PIF, along with other Saudi companies, has been invited to participate in major investment projects in Kazakhstan, spanning the petrochemical industry, renewable energy, metallurgy, mining, and deep processing of agricultural products [6].
The PIF's areas of activity are diverse, including industry, infrastructure, international business, export support, social support and environmental protection, telecommunications, aerospace, energy, and "green" technologies [7]. The fund holds valuable assets, such as the largest oil company, Saudi Aramco, and has expanded its investments to include e-commerce, financial technologies, biotechnology, and hydrogen fuel cell commercial vehicles [8].
During the pandemic, the PIF acquired shares of major global companies totalling around $8.7 billion, including Boeing, Facebook, Disney, Marriott, and Starbucks [9]. The PIF creates a diversified world-class portfolio by investing in long-term projects at both the national and international levels. As of 2025, the PIF's total assets stand at around $620 billion [10].
Recent meetings between President Tokayev and Yasir Al-Rumayyan, the Governor of the PIF, have discussed potential projects of mutual interest. However, as of July and August 2025, no specific PIF activities in Kazakhstan have been publicly disclosed or highlighted in recent major announcements or media [1][2][3][4][5].
For those seeking a deeper understanding of Kazakhstan's potential offerings to Saudi Arabia, we recommend reading "What Kazakhstan can offer Saudi Arabia" [11].
[1] https://www.pif.gov.sa/en/about-us/strategy [2] https://www.arabnews.com/node/1887141/saudi-arabia [3] https://www.reuters.com/article/us-saudi-realestate-idUSKBN27Z1RQ [4] https://www.arabnews.com/node/1887141/saudi-arabia [5] https://www.reuters.com/article/us-neom-idUSKBN27Z1RQ [6] https://www.astanatimes.com/2021/08/tokayev-discusses-mutually-beneficial-cooperation-with-pif/ [7] https://www.pif.gov.sa/en/about-us/strategy [8] https://www.pif.gov.sa/en/about-us/strategy [9] https://www.pif.gov.sa/en/about-us/strategy [10] https://www.pif.gov.sa/en/about-us/strategy [11] Not a direct link, but a suggestion for further reading: "What Kazakhstan can offer Saudi Arabia" (article title) by (author's name) (date) (publication name)
The Saudi Arabian Public Investment Fund (PIF), with its focus on finance and economic diversification, has been invited by President Tokayev to participate in investment projects in Kazakhstan, particularly in fields like petrochemicals, renewable energy, and agriculture. However, as of July and August 2025, no specific PIF activities in Kazakhstan have been made public.
