U.S. deregulation will bring more Saudi funds, PIF chief says
Yasir Al-Rumayyan says 40% of the Saudi sovereign wealth fund's foreign investments are in American companies – and it could be higher
Saudi Public Investment Fund Governor Yasir Al-Rumayyan at FII Prioriity Summit in Miami (Getty Images)
Saudi Public Investment Fund Governor Yasir Al-Rumayyan says the U.S. needs to cut red tape if it wants more investment from the Gulf kingdom.
Wrapping up the PIF’s FII Priority Summit in Miami Beach on Friday, Al-Rumayyan noted that 40% of the sovereign wealth fund’s current foreign investments are in American companies.
“It could have been much more,” the PIF chief said, pointing to a series of U.S. regulatory rules he described as barriers.
“I hope with the current administration, these restrictions [will] be ironed out and it will attract more investment back to the U.S.”
The three-day conference opened with a speech by President Donald Trump, who said he wants Saudi Arabia to invest $1 trillion in the U.S. over the next four years – a response to Crown Prince Mohammed bin Salman’s pledge to invest $600 billion.