Saudi Arabia’s primary sovereign wealth fund, the Public Investment Fund (PIF) has signalled interest in the conclusion of the Bilateral Investment Protection Agreement between Sri Lanka and Saudi Arabia, as communicated by Senior Director Mulham Albakree.

Albakree also shared details of the fund’s strategic plans for 2026-2030, highlighting key areas of international investment interest. A Sri Lanka delegation headed by Industry and Entrepreneurship Development Deputy Minister Chathuranga Abeysinghe, held a discussion with senior officials of the PIF at the PIF Headquarters in Riyadh on 25 January.

During the meeting, Minister 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. 

The Securities and Exchange Commission of Sri Lanka (SEC) Chairperson Prof. D.B.P.H. Dissabandara, and Colombo Stock Exchange (CSE) Chief Executive Officer 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.

The Ambassador of Sri Lanka 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.

The Colombo Stock Exchange Director M. Ray Abeywardena, SEC Officer-in-Charge/Deputy Director General, Tushara Jayaratne, CSE Senior Vice President – Marketing Niroshan Wijesundere and Embassy of Sri Lanka First Secretary Tashma Vithanawasam were also present at the discussions.

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. 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.