Riyadh, February 06, 2024, The Public Investment Fund (PIF) convened its second PIF Private Sector Forum in Riyadh today, alongside an accompanying exhibition, as detailed in a press release from the PIF. The primary objective of the forum is to cultivate partnerships between PIF, its portfolio companies, and the private sector.
Aligned with PIF's strategic vision, the forum aims to bolster local content through its portfolio companies, targeting a goal of 60% by the conclusion of 2025. The event brings together a diverse array of key stakeholders, including ministers, PIF executives, CEOs, thought leaders, and representatives from over 80 PIF portfolio companies. With more than 100 booths showcasing portfolio companies and government entities, the forum is expected to draw participation from over 8,000 private sector professionals across strategic sectors.
The PIF Private Sector Forum 2024 serves as a platform to advance the empowerment of the local private sector, enhancing its competitiveness and innovation capacity. The event will witness the launch of new programs and initiatives aimed at diversifying the local economy, strengthening strategic sectors, boosting competitiveness, increasing local content, and creating job opportunities. Emphasizing the critical role of private sector empowerment in driving the local economy and realizing the objectives of Vision 2030, the forum underscores the importance of collaboration between PIF, its portfolio companies, and the private sector.
Sessions and workshops at this year's forum will delve into strategic topics related to Vision 2030's goals of empowering and enhancing the private sector, and PIF's pivotal role in advancing this agenda. Discussions will encompass financing solutions for vendors, opportunities in emerging local sectors, and the transformative impact of private sector investment on value and supply chain development.
Moreover, the forum will provide a platform to explore opportunities for collaboration and partnership involving PIF, its portfolio companies, and the private sector, fostering extensive networking opportunities for participants. Overall, the event underscores PIF's commitment to driving economic growth and fostering a vibrant private sector ecosystem in line with the goals of Vision 2030.
