PIF is set to host its second PIF Private Sector Forum accompanied by an expansive exhibition on February 6 and 7

The Public Investment Fund (PIF) will hold its second PIF Private Sector Forum, which will be the largest of its type in the nation, along with a large-scale expo, at the King Abdulaziz International Convention Centre in Riyadh on February 6-7, 2024. This event is part of PIF's objective to raise the percentage of local content in PIF projects to 60% by the end of 2025. It also intends to foster collaborations between PIF, the enterprises in its portfolio, and the private sector.

Additionally, it advances the Vision 2030 objective of increasing the GDP contribution of the private sector to 65% by 2030. Key players, such as government ministers, PIF executives, CEOs, thought leaders, and representatives from more than 80 PIF portfolio businesses, are expected to attend the Private Sector Forum. It is anticipated that more than 8,000 private sector participants from several strategic sectors would attend the event, which features more than 100 booths representing government and portfolio firms.

The 2024 PIF Private Sector Forum aims to improve the competitiveness, innovative potential, and general empowerment of the local private sector. It will introduce new projects and programmes meant to develop local content, increase competitiveness, improve key sector competencies, diversify the local economy, and generate employment possibilities.

The event emphasises how important it is for the private sector to be empowered in order to grow the local economy and achieve Vision 2030's goals. The forum's second edition will include several seminars and workshops covering a wide range of strategic issues, with an emphasis on achieving the goals of Vision 2030—namely, developing and empowering the private sector—as well as PIF's role in this endeavour.

In addition, the event will look at joint venture and partnership prospects between PIF, the businesses in its portfolio, and the business community. This will offer a great opportunity for private industry networking.

In 93 firms founded since 2017, PIF has been instrumental in creating approximately 644,000 direct and indirect employment in many promising industries. To enhance national development via strategic investments, PIF formed the National Development Division (NDD), which has goals that include highlighting the role of private firms inside portfolio companies and increasing private sector engagement.