RIYADH — The Public Investment Fund (PIF) is set to host its second PIF Private Sector Forum, the country's largest gathering of its kind, accompanied by an expansive exhibition, on Feb. 6-7, 2024, at the King Abdulaziz International Convention Center in Riyadh. This event aims to cultivate partnerships between PIF, its portfolio companies, and the private sector, in alignment with PIF's strategy to increase local content within PIF projects to 60% by the end of 2025. It also supports the Vision 2030 goal of elevating the private sector's contribution to GDP to 65% by 2030. The Private Sector Forum anticipates the participation of key figures, including government ministers, PIF executives, CEOs, thought leaders, and representatives from over 80 PIF portfolio companies. With over 100 booths representing portfolio companies and government entities, the event is expected to draw more than 8,000 private sector participants across various strategic sectors. The 2024 PIF Private Sector Forum will enhance the local private sector's competitiveness, innovation capacity, and overall empowerment. It will unveil new programs and initiatives aimed at diversifying the local economy, enhancing strategic sector capabilities, increasing competitiveness, boosting local content, and creating job opportunities. The forum underscores the crucial role of private sector empowerment in advancing the local economy and fulfilling the objectives of Vision 2030. In its second edition, the forum will feature numerous sessions and workshops addressing various strategic topics, with a focus on realizing the Vision 2030 objectives of empowering and strengthening the private sector, as well as PIF's contributions to this endeavor. Discussions will encompass financing solutions for vendors through various programs, upcoming opportunities in emerging local sectors, and the pivotal role of private sector investment in cultivating value and supply chains. Additionally, the forum will explore collaboration and partnership opportunities involving PIF, its portfolio companies, and the private sector, providing a valuable platform for private sector networking. Since 2017, PIF has established 93 companies and played a pivotal role in generating over 644,000 direct and indirect jobs across numerous promising sectors. PIF established its National Development Division (NDD) to support national development through strategic investments, with objectives that include enhancing private sector participation and emphasizing the role of private businesses within portfolio companies.
