Saudi Public Investment Fund nurturing alliances with private sector
The PIF Private Sector Forum, concluded on Wednesday, reaffirmed its
dedication to nurturing strategic alliances between Saudi Arabia’s sovereign
fund and its portfolio companies in the private sector.
The second edition of the forum, held in Riyadh,
drew over 8,000 attendees, including princes, ministers, decision-makers, CEOs,
and senior officials from both public and private spheres.
Key sessions centered on the Fund's pivotal role
in propelling economic diversification within the Kingdom. Discussions revolved
around initiatives by the Fund and its portfolio companies to empower the local
private sector, fostering its growth as a supplier, investor, and partner in
priority strategic projects and sectors.
Saudi
Arabia's Public Investment Fund supporting Vision 2030
Additionally, workshops delved into current and
future demands from the Fund's portfolio companies across various sectors,
facilitating cooperation and knowledge exchange among stakeholders.
The commitment to bolstering local content was
underscored during sessions. Abdul Rahman Al-Samari, CEO of the Local Content
and Government Procurement Authority, emphasized the economic benefits and
supply chain efficiency gained through prioritizing local content. The
government-private sector partnership was highlighted as instrumental in
achieving the Fund's target of reaching 60 percent local content contribution
by 2025.
Saudi
Arabia launches second edition of the PIF Private Sector Forum in Riyadh
Jerry Inzerillo, CEO of Diriyah Gate, emphasized
the historical and humanitarian significance of Diriyah and its focus on
enhancing quality of life for the local community. He emphasized the importance
of private sector participation and investment in projects like Diriyah Gate
under the PIF umbrella.
A ministerial session highlighted the pivotal
role of the private sector in realizing Saudi Arabia's Vision 2030. Minister of
Investment Khalid bin Abdulaziz Al-Falih stressed the goal of increasing the
private sector's GDP contribution to 65 percent by 2030, citing the PIF's role as
an economic engine driving various sectors.
Minister of Industry and Mineral Resources
Bandar bin Ibrahim AlKhorayef announced the establishment of the Automotive
Manufacturers Association to support sector growth and protect manufacturers'
interests, praising the PIF's contributions to the automotive industry's launch
in the Kingdom.
Saudi
Public Investment Fund (PIF) establishes new tourism investment company
Minister of Tourism Ahmed bin Aqeel Al-Khateeb
emphasized the private sector's role in advancing tourism goals within Vision
2030, highlighting partnerships with the PIF in boosting the sector's
contribution to the GDP.
Prince Turki bin Talal bin Abdulaziz announced
the launch of Aseer Investment Company, a PIF portfolio company, highlighting
the region's transformation into a global tourist destination.
The forum also honored national companies with the "Contribution" Award, recognizing their outstanding efforts in developing local content and promoting competitiveness in the market.
Source: Alarabiya
0 Comments