Second edition of the PIF Private Sector Forum launched in Riyadh
Saudi Arabia kicked off its second edition of the "PIF Private Sector Forum," a premier event in the Kingdom, accompanied by an exhibition at the King Abdulaziz International Convention Center in Riyadh.
Scheduled over two days from February 6-7, 2024, the forum aims to cultivate stronger partnerships and cooperation with the private sector.
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This initiative aligns with the strategic objective of the Public Investment Fund (PIF) to increase the contribution of its projects and portfolio companies to local content (PIF Projects) to 60 percent by the end of 2025, as outlined in the Fund's announcement on Monday.
The forum will host a diverse group of ministers and senior officials from the Fund, its subsidiaries, and various government agencies. It anticipates over 8,000 participants from the private sector across multiple strategic sectors, including CEOs and business leaders. More than 100 pavilions for private sector companies will be featured, with over 80 of the Fund’s portfolio companies participating.
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Continuing the efforts of the PIF and its subsidiaries to bolster the role of the local private sector and enhance its competitiveness and innovation, the second edition of the Public Investment Fund and Private Sector Forum is poised to introduce new programs and initiatives.
These initiatives aim to diversify the local economy, develop strategic sectors, enhance competitiveness, increase local content, and promote job creation. Empowering the private sector remains a crucial priority in advancing the local economy to achieve the goals of the Kingdom’s Vision 2030.
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The forum will delve into various strategic topics through dialogue sessions and workshops, focusing on the objectives of Vision 2030 to empower and strengthen the private sector. It will also highlight the Fund’s leadership in driving these objectives, explore financing solutions for contractors through various programs, and examine the future prospects of numerous new sectors in the country.
This event provides a significant opportunity for cooperation and partnership-building between the Fund, its portfolio companies, and private sector entities, serving as a vital platform for exploring opportunities within the private sector itself.
Since its establishment in 2017, the PIF has created 93 companies, contributing to the creation of over 644,000 direct and indirect jobs in various promising strategic sectors.
Additionally, it established the National Development Fund to enhance the economic impact of the Fund’s investments and increase private sector participation in its projects and companies.
Source: https://english.alarabiya.net/
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