Saudi PIF appoints two new deputy governors as it targets more than $1 trillion in AUM

PIF aims to reach assets under management of over $1.07 trillion by 2025 while investing $40 billion annually into the local economy during the same time period. (Shutterstock)
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Updated 09 June 2021
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Saudi PIF appoints two new deputy governors as it targets more than $1 trillion in AUM

  • Turqi Alnowaiser will take on their deputy governor roles alongside their current responsibilities

RIYADH: Saudi Arabia’s Public Investment Fund (PIF) said on Tuesday it has created two new deputy governor roles to help drive its expansion.

Turqi Alnowaiser, who heads the international investments division, and Yazeed Alhumied, who leads the MENA investments division, will take on their deputy governor roles alongside their current responsibilities, the PIF said in a statement on Tuesday.

There will be no changes to the current reporting structures to Governor Yasir Al-Rumayyan, nor to the existing structure of the Fund’s business units, the PIF said.

PIF aims to reach assets under management of over $1.07 trillion by 2025 while investing $40 billion annually into the local economy during the same time period.

PIF announced in December 2020 that its total employee count surpassed 1,000, up from around 700 at the start of the year. The sovereign fund had around 40 staff members in 2016.

The fund said around 84 percent of its employees were Saudi citizens and 26 percent were women.


Saudi Arabia ranks 2nd globally in digital government, World Bank 2025 index shows


Updated 18 December 2025
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Saudi Arabia ranks 2nd globally in digital government, World Bank 2025 index shows


WASHINGTON: Saudi Arabia has achieved a historic milestone by securing second place worldwide in the 2025 GovTech Maturity Index released by the World Bank.

The announcement was made on Thursday during a press conference in Washington, DC, which evaluated 197 countries.

The Kingdom excelled across all sub-indicators, earning a 99.64 percent overall score and placing it in the “Very Advanced” category.

It achieved a score of 99.92 percent in the Core Government Systems Index, 99.90 percent in the Public Service Delivery Index, 99.30 percent in the Digital Citizen Engagement Index, and 99.50 percent in the Government Digital Transformation Enablers Index, reflecting some of the highest global scores.

This includes outstanding performance in digital infrastructure, core government systems, digital service delivery, and citizen engagement, among the highest globally.

Ahmed bin Mohammed Al-Suwaiyan, governor of the Digital Government Authority, attributed this achievement to the unwavering support of the Saudi leadership, strong intergovernmental collaboration, and effective public-private partnerships.

He highlighted national efforts over recent years to re-engineer government services and build an advanced digital infrastructure, which enabled Saudi Arabia to reach this global standing.

Al-Suwaiyan emphasized that the Digital Government Authority continues to drive innovation and enhance the quality of digital services, in line with Saudi Vision 2030, supporting the national economy and consolidating the Kingdom’s transformation goals.

The 2025 GTMI data reflects Saudi Arabia’s excellence across key areas, including near-perfect scores in core government systems, public service delivery, digital citizen engagement, and government digital transformation enablers. This balanced performance places the Kingdom firmly in the “Grade A” classification for very advanced countries, demonstrating the maturity of its digital government ecosystem.

Saudi Arabia’s progress in the index has been remarkable: from 49th place in the 2020 edition, to third in 2022, and now second in 2025, confirming its status as a global leader in digital transformation and innovation.

The achievement also reflects the Kingdom’s focus on putting people at the center of digital transformation, enhancing user experience, improving government efficiency, and integrating artificial intelligence and emerging technologies across public services.