Saudi Arabia concluded its second edition of the “PIF Private Sector Forum” in Riyadh, an event that brought together stakeholders from the PIF and its portfolio companies to engage directly with private sector companies at the King Abdulaziz International Convention Center in Riyadh.
The event – which was the biggest of its kind in the country, and was attended by over 8,000 participants, saw first day sessions attended by government ministers, senior PIF officials, and participants from the private sector and 80 companies affiliated with PIF; with more than 100 booths for PIF portfolio companies and government bodies.
During his opening speech, HE Yasser Al-Rumayyan, governor of the PIF, stressed the importance of the forum and the opportunities it provides to enhance cooperation with the private sector in achieving the strategic objectives of PIF. He added that PIF “continues to work as an engine for economic transformation in Saudi Arabia through the development of strategic sectors, and the involvement of the private sector through initiatives that enhance its role as an investor, partner and supplier,” according to a press release.
The Kingdom has a goal of raising the private sector’s contribution to GDP to 65% by 2030.
PIF has provided significant investment opportunities with the value of private sector investments in portfolio companies and projects affiliated with PIF amounted to $25.6 billion as of the third quarter of 2023.
In 2023, PIF launched its Private Sector Hub – a one-stop-shop for private firms seeking to engage with PIF and its portfolio companies. Since the launch, the hub has provided more than 200 opportunities with a value of more than $5.3 billion, according to the PIF.
The event saw major announcements from the Aseer Company as well as a new development in Jeddah Downtown.
