Riyadh, February 05, 2024, The Public Investment Fund (PIF) is set to host the second edition of the PIF Private Sector Forum, a preeminent gathering in the nation, accompanied by an expansive exhibition. Scheduled for February 6-7, 2024, at the King Abdulaziz International Convention Center in Riyadh, this event serves as a platform to cultivate partnerships between PIF, its portfolio companies, and the private sector. Aligned with PIF's strategic vision, the forum aims to elevate local content, defined as the domestic private sector's contribution to PIF projects, to 60% by the close of 2025. It also resonates with the broader Vision 2030 goal to increase the private sector's contribution to the GDP to 65% by 2030.
Drawing the participation of government ministers, PIF executives, CEOs, thought leaders, and representatives from over 80 PIF portfolio companies, the Private Sector Forum anticipates engagement from more than 8,000 participants representing diverse strategic sectors. The event is poised to reinforce the commitment of PIF and its portfolio companies to bolster the local private sector, fostering competitiveness and innovation. It will unveil new programs and initiatives designed to diversify the local economy, enhance strategic sector capabilities, boost competitiveness, increase local content, and generate employment opportunities. This underscores the pivotal role of private sector empowerment in realizing Vision 2030 objectives and local economic development.
In its second iteration, the forum will feature sessions and workshops addressing key strategic topics aligned with Vision 2030 objectives and PIF initiatives to promote private sector growth. Discussions will encompass financing solutions for vendors through various programs, exploration of future opportunities in emerging local sectors, and the role of private sector investment in developing value and supply chains. The event will also provide a significant platform for collaboration and partnership discussions involving PIF, its portfolio companies, and the private sector.
Since its establishment in 2017, PIF has played a pivotal role in creating 93 companies, contributing to the generation of over 644,000 direct and indirect jobs across promising sectors. PIF's National Development Division (NDD) has been instrumental in supporting national development through strategic investments, emphasizing private sector participation and the role of private businesses within portfolio companies.
