The Public Investment Fund (PIF) of Saudi Arabia is preparing to host its second Private Sector Forum in a move designed to enhance the nation’s domestic economy. The upcoming event is scheduled for the 6th and 7th of February at the King Abdul Aziz International Conference Center, as stated in a notification on the PIF’s official webpage.
The convening is set to facilitate the PIF’s engagement with the private sector. It aims to stimulate business localization and the establishment of stable supply chains across vital segments of the Saudi economy.
Central goals of the forum include the unveiling of partnership prospects, the creation of networking platforms, the simplification of supplier registration processes, and the provision of insights into PIF’s initiatives.
High-level dialogues will be a feature of the forum, where industry leaders will discuss the pivotal role of the private sector in the kingdom’s progress, spotlight successful collaborations, and identify opportunities in budding regions.
Experts will lead workshops detailing business opportunities, focusing on specific investments for localization and supply chain enhancements.
Over 50 enterprises from the PIF’s portfolio are slated to take part in an exhibition, highlighting new projects and opportunities, which will encourage networking and direct dialogue among attendees.
The forum is also expected to introduce significant PIF programs, further solidifying the wealth fund’s pledge to expand cooperation.
Announcements of major alliances between the private sector, PIF, and its portfolio companies are anticipated, demonstrating substantial strides in joint ventures that contribute to the economic advancement of the Kingdom.
Previously, in October 2022, the PIF inaugurated the Local Content Growth Program, which strives to cultivate a competitive and innovative private sector. This initiative aligns with the PIF’s strategic goal to enhance Saudi Arabia’s gross domestic product and to generate 1.8 million jobs by 2025.