Minister of Commerce and Investment Dr. Majid bin Abdullah Al-Qasabi appreciated the Cabinet's decision to activate the role of the private sector and increase its contribution to GDP by stimulating investments related to venture capital and private ownership, as the Cabinet approved a number of arrangements, including that the Public Investment Fund and the Ministry of Commerce and Investment coordinate between them and take the necessary measures to establish a holding fund called the Fund of Funds with a capital of (four) billion Saudi riyals, whose purpose is to invest in venture capital funds and private ownership, according to commercial principles to support and stimulate opportunities.

He explained that the issuance of this decision is a key tributary in enhancing the capacity and empowerment of these projects, encouraging entrepreneurs and supporting their initiatives in line with the National Transformation Plan 2020.