Saudi Arabia wealth fund set to announce strategy revamp, sources say

Saudi Arabia’s $925 billion Public Investment Fund (PIF) plans to announce a new five-year strategy this week, two people with direct knowledge of the matter said, in the biggest reset yet of Crown Prince Mohammed bin Salman’s economic transformation plan. 

Why it matters

The new blueprint will emphasize sectors including industry, minerals, artificial intelligence and tourism, while scaling back and in some cases reconfiguring expensive mega projects such as The Line a futuristic mirrored city, the sources said.