The second edition of the Public Investment Fund and Private Sector Forum and the accompanying exhibition began today at the King Abdulaziz Convention Center in Riyadh, in the presence of a number of Their Excellencies and senior officials from the Fund and its subsidiaries, and a number of government agencies and the private sector in various strategic sectors.

Strengthening cooperation and building partnerships

<His Excellency the Governor of Public Investment Fund Mr. Yasser bin Othman Al-Rumayyan delivered a speech during which he explained that the forum aims to enhance cooperation, build partnerships and launch initiatives and opportunities through the Public Investment Fund and its companies to empower the local private sector, pointing out that the Fund's investments serve as an engine for economic transformation in the Kingdom by establishing and developing strategic sectors and contributing to increasing private sector participation, noting the attention paid by His Highness the Crown Prince to the private sector and his keenness to enhance its role in the national economy and achieve the Kingdom Vision 2030, pointing out that

Empowering the private sector

His Excellency said that the Kingdom's Vision 2030 considers empowering the private sector the private sector as one of the main pillars of building a prosperous economy and set a target of raising its contribution to GDP to 65% by 2030, adding that the Public Investment Fund contributes to achieving the target through 13 strategic sectors in the Kingdom in which the private sector is engaged through initiatives that enhance its role as a partner, investor and supplier.

Rumayyan emphasized that the Public Investment Fund contributes to achieving the target through 13 strategic sectors in the Kingdom in which the private sector is engaged through initiatives that enhance its role as a partner, investor and supplier.

Rumayyan stressed that <Al-Rumayyan stressed that the private sector has an important role as an investor in PIF projects and portfolio companies, as direct investments from the sector between the beginning of 2021 and the end of the third quarter of 2023 reached more than 96 billion riyals, adding that the programs and initiatives launched by the Fund in last year's edition contributed to strengthening the partnership with the private sector, noting that the private sector platform launched by the Fund last year provided more than 200 opportunities worth more than 20 billion riyals, and qualified more than 100 Saudi companies to work with the Fund's companies through the contractor pre-qualification program platform, and organized training courses for more than

His Excellency said: Since the launch of the Local Content Development Program, 56 of the Fund's companies have adopted their own policies to enhance the contribution of local content, which contributes to prioritizing the local sector.

His Excellency said.