• Two-day PIF forum dedicated to supporting and enabling opportunities for the domestic private sector
  • Local businesses from across Saudi Arabia will explore cooperation, partnership and business opportunities with more than 50 PIF portfolio companies

RIYADH – The Public Investment Fund (“PIF”) is set to hold its inaugural Private Sector Forum on March 14 and 15 at the Four Seasons Hotel in Riyadh. This 2-day event is focused on PIF’s efforts to support and enable the private sector to unlock opportunities and further diversify the economy by investing in new sectors, enhancing competitiveness, increasing local content, and creating new jobs in line with Vision Saudi 2030.

The PIF Private Sector Forum, the first of its kind, will be attended by PIF executives, ministers, senior government officials, and representatives from 50 PIF portfolio companies, as well as over 4,000 private sector participants from across Saudi Arabia, representing a broad range of sectors. 

The forum is the latest PIF initiative to empower and support the private sector, and aims at strengthening partnerships between PIF, its portfolio companies and the private sector as well as advancing opportunities and localising supply chains in strategic sectors. The forum will witness the signing of a number of agreements between PIF, portfolio companies and the private sector, which will enhance business opportunities and partnerships.

Jerry Todd, Head of National Development Division at PIF, said: “PIF has a key role in enabling a thriving private sector as a major investor and driver for the diversification of the local economy.  This forum is dedicated to engaging with the domestic private sector and showcasing available opportunities, as well as demonstrating that through working together we can build local capabilities, create opportunities for private sector players across the value chain in line with Vision 2030.”

The forum offers local businesses the chance to explore cooperation and opportunities with PIF portfolio companies and provides an opportunity for potential suppliers to register with participating companies. The forum will include a number of workshops, including sessions on the private sector’s vital role in Saudi Arabia’s economic growth along with PIF’s enabling role.  In addition, there will be sessions on opportunities for companies within PIF’s giga-projects and emerging sectors in Saudi Arabia.  The forum will also explore the private sector’s role in emerging markets and its role in developing critical infrastructure including for the housing and real estate sectors.

The forum is part of PIF’s 2021-2025 strategy to “crowd in” the private sector, creating more opportunities for local businesses to collaborate in growing a more diversified, globally competitive economy as envisaged by Vision 2030.  This is the latest PIF initiative dedicated to supporting and enabling the private sector and growing competitive and innovative industries in Saudi Arabia. 

Since 2017, PIF has established 71 companies, and in recent years, has generated more than 500K direct and indirect jobs. PIF has invested SAR 311 billion domestically between 2017 – 2020.

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ABOUT PIF

The Public Investment Fund (PIF) is one of the largest and most impactful sovereign wealth funds in the world. Since 2015, when the Board was reconstituted and oversight transferred to the Council of Economic and Development Affairs, the Fund’s board of directors has been chaired by His Royal Highness Crown Prince Mohammad bin Salman bin Abdulaziz, Prime Minister, Chairman of the Council of Economic and Development Affairs, and Chairman of the Public Investment Fund. PIF a leading role in advancing Saudi Arabia’s economic transformation and diversification, as well as contributing to shaping the future of the global economy. Since 2017, PIF has established 71 companies and created, directly and indirectly, more than 500,000 jobs as at the end of 2021.

PIF is building a diversified portfolio by entering into attractive and long-term investment opportunities in 13 strategic sectors in Saudi Arabia and globally. PIF's strategy, as set out in the PIF Program 2021-2025 - one of the Vision 2030 realization programs - aims to enable many promising sectors and contribute to increasing local content by creating partnerships with the private sector, in addition to injecting at least 150 billion riyals annually into the local economy. PIF works to transfer technologies and localize knowledge to build a prosperous and sustainable economy domestically. As the investment arm Saudi Arabia, PIF looks to make unique investments, and is building strategic alliances and partnerships with prestigious international institutions and organizations, which contribute to achieving real long-term value for Saudi Arabia, in line with the objectives of Vision 2030. PIF has also created an operational governance model that reflects its main tasks and objectives, in line with best international practices. Applying this model of governance enhances the level of transparency and effectiveness in decision-making and future progress.

More information about PIF can be found at: www.pif.gov.sa    

Media Contact: media@pif.gov.sa