- The event expects to attract over 8,000 private sector attendees and will feature over 100 booths for PIF’s portfolio companies and government entities
- The forum will serve as a platform to announce new programs and partnerships, involving PIF, its portfolio companies and the private sector, to enable local economic growth
Riyadh: The Public Investment Fund (PIF) will hold its second PIF Private Sector Forum – the largest gathering of its kind in the country – along with its accompanying exhibition, on February 6-7, 2024, at the King Abdulaziz International Convention Center in Riyadh. This event aims to foster partnerships between PIF and its portfolio companies, and the private sector. It aligns with PIF’s strategy to increase local content (the contribution by the domestic private sector into PIF projects) through its portfolio companies to 60% by the end of 2025, and the Vision 2030 objective to increase private sector contribution to GDP to 65% by 2030.
The Private Sector Forum will host a range of senior figures, including government ministers and PIF executives, as well as CEOs and thought leaders, and representatives of over 80 PIF portfolio companies. The event will also feature in total over 100 portfolio companies and government entities’ booths and also expects more than 8,000 private sector participants from various strategic sectors.
The 2024 PIF Private Sector Forum will complement PIF and its portfolio companies’ efforts to further empower the local private sector, enhancing its competitiveness and capacity for innovation. It will see the launch of new programs and initiatives aimed at diversifying the local economy, enhancing the capabilities of strategic sectors, boosting competitiveness, increasing local content and creating job opportunities. It will underline the importance of private sector empowerment in developing the local economy and achieving the goals of Vision 2030.
In its second edition, the forum will feature a number of sessions and workshops dealing with a range of strategic topics, focusing on the objectives of Vision 2030 in empowering and enhancing the role of the private sector, as well as PIF efforts in driving towards this initiative. The sessions will also discuss financing solutions for vendors through several programs, in addition to future opportunities for new local sectors and the contribution of private sector investment in developing value and supply chains. The forum will also explore opportunities for collaboration and partnership involving PIF, its portfolio companies and the private sector and will provide a significant platform for private sector networking.
Since 2017, PIF has established 93 companies and has been instrumental in creating over 644,000 direct and indirect jobs across various key promising sectors. PIF created its National Development Division (NDD) to support national development through PIF investments. The division’s objectives include enhancing private sector participation and emphasizing private business’ roles with portfolio companies.
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 plays 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 over 90 companies. PIF is building a diversified portfolio by entering into attractive and long-term investment opportunities in 13 strategic sectors in Saudi Arabia and globally.