Riyadh – Mubasher: The Public Investment Fund (PIF) has launched its third Private Sector Forum, along with an accompanying exhibition, at Riyadh’s King Abdulaziz International Conference Center.
The forum, which is being held during 12-13 February, is the largest platform of its kind in Saudi Arabia, according to a press release.
The two-day event aims at enhancing partnerships and creating opportunities for the local private sector. It will gather local and international investors to expand strategic sectors in the Kingdom and increase the private sector contribution to GDP to 65% as set out in Vision 2030.
Held under the slogan “Joint aspiration for a thriving economy," the third edition will welcome more than 10,000 local, regional, and global business attendees.
Jerry Todd, Head of the National Development Division at PIF, said: “The forum continues to grow in size, scope and ambition, and represents PIF’s broader efforts to engage and enable the private sector and boost its contribution toward developing a more diversified economy with deep, tech-enabled local supply chains.”
This event backs the Saudi fund’s strategy to increase the contribution of the local private sector to PIF projects and portfolio companies to 60%.
PIF’s Private Sector Hub currently features over 2,000 investors registered in the hub and displays more than 200 opportunities exceeding a value of SAR 40 billion.
Last month, the fund acquired a 23.08% shareholding in Saudi Reinsurance Company (Saudi Re) to enhance its growth potential by adding to its financial capacity and further reinforcing its credit rating.
