Sri Lanka engages $ 900 b Saudi Public Investment Fund

Tuesday, 3 February 2026 02:17 - - {{hitsCtrl.values.hits}}

Industry and Entrepreneurship Development Deputy Minister Chathuranga Abeysinghe (centre left) with PIF Senior Director Mulham Albakree

A Sri Lankan delegation headed by Industry and Entrepreneurship Development Deputy Minister Chathuranga Abeysinghe recently met with senior officials of the Saudi Public Investment Fund (PIF) in Riyadh.

Abeysinghe made a detailed presentation highlighting Sri Lanka’s competitive advantages and investment opportunities. The discussion also provided a platform to showcase the investment potential of Sri Lanka’s capital market.

Securities and Exchange Commission (SEC) Chairman Senior Prof. D.B.P.H. Dissabandara and CEO Rajeeva Bandaranaike briefed the PIF officials on Sri Lanka’s new policies and regulatory reforms aimed at strengthening investor confidence and facilitating sustainable market growth.

PIF Senior Director Mulham Albakree shared details of the Fund’s Strategic Plan for 2026–2030, highlighting key areas of international investment interest and stressed the importance of concluding a Bilateral Investment Protection Agreement between Sri Lanka and Saudi Arabia.

Both sides agreed to open a channel of communication to follow up matters that were discussed during the meeting.

Sri Lankan Ambassador to the Kingdom of Saudi Arabia Ameer Ajwad briefed the meeting on the status of existing bilateral agreements, including the Agreement on the Avoidance of Double Taxation between the two countries.

Colombo Stock Exchange (CSE) Director Ray Abeywardena, SEC Deputy Director General Tushara Jayaratne, CSE Senior Vice President – Marketing Niroshan Wijesundere, and Sri Lanka Embassy in the Kingdom of Saudi Arabia First Secretary Tashma Vithanawasam were present at the discussions.

The PIF is the sovereign wealth fund of the Kingdom of Saudi Arabia and one of the largest and most influential sovereign wealth funds globally. The PIF plays a central role in advancing Saudi Arabia’s Vision 2030 by driving economic diversification, fostering innovation, and promoting sustainable long-term growth.

The PIF manages a globally diversified investment portfolio across strategic sectors including energy, mining, infrastructure, logistics, manufacturing, tourism, real estate, technology, healthcare, financial services, and capital markets.

In 2024, the Fund reported assets under management (AUM) of SAR 3.4 trillion (approx. $ 910 billion).