Riyadh - Sharikat Mubasher: Saudi Arabia’s Public Investment Fund (PIF) plays a pivotal role in shaping a more dynamic and competitive business environment in the Kingdom, being a supportive force for the private sector.
The PIF launched the Private Sector Hub to promote collaboration with the private sector by introducing various investment opportunities for the private sector and showcasing different projects implemented by the PIF and its companies, Saudi Minister of Finance Mohammed Al-Jadaan stated in an interview with Asharq Business.
He affirmed the sovereign fund’s crucial role in paving the way for the private sector to invest in untapped fields, such as recycling, helping the sector attract investments and tackle the challenges it faces.
Al-Jadaan clarified that the PIF is not a competitor for the private sector as it collaborates with different contractors and suppliers from the private sector to implement its projects.
He further noted that the fund helps the private sector entities attract investments and secure funding necessary for large projects.
It is worth noting the Ministry of Finance held a press conference to announce the Budget Statement for Fiscal Year 2025, estimating total expenditures of SAR 1.28 billion and total revenues of SAR 1.18 billion.
During the conference, Al-Jadaan noted that the government aims to expand strategic spending through the FY 2025 Budget on development projects, in line with sectoral strategies and Saudi Vision 2030 programs.
