PIF Launches Inaugural Private Sector Forum to Showcase Opportunities for Local Businesses

• Event to attract 4,000 attendees from Saudi Arabia’s private sector and feature more than 50 PIF portfolio company pavilions
• Two-day PIF forum dedicated to supporting and enabling opportunities for the domestic private sector
• Local businesses from across Saudi Arabia will explore cooperation, partnership and business opportunities with more than 50 PIF portfolio companies

The Public Investment Fund (“PIF”) is set to hold its inaugural Private Sector Forum on March 14 and 15 at the Four Seasons Hotel in Riyadh. This 2-day event is focused on PIF’s efforts to support and enable the private sector to unlock opportunities and further diversify the economy by investing in new sectors, enhancing competitiveness, increasing local content, and creating new jobs in line with Vision Saudi 2030. 

The PIF Private Sector Forum, the first of its kind, will be attended by PIF executives, ministers, senior government officials, and representatives from 50 PIF portfolio companies, as well as over 4,000 private sector participants from across Saudi Arabia, representing a broad range of sectors. 

The forum is the latest PIF initiative to empower and support the private sector, and aims at strengthening partnerships between PIF, its portfolio companies and the private sector as well as advancing opportunities and localising supply chains in strategic sectors. The forum will witness the signing of a number of agreements between PIF, portfolio companies and the private sector, which will enhance business opportunities and partnerships. 

Jerry Todd, Head of National Development Division at PIF, said: “PIF has a key role in enabling a thriving private sector as a major investor and driver for the diversification of the local economy.  This forum is dedicated to engaging with the domestic private sector and showcasing available opportunities, as well as demonstrating that through working together we can build local capabilities, create opportunities for private sector players across the value chain in line with Vision 2030.” 

The forum offers local businesses the chance to explore cooperation and opportunities with PIF portfolio companies and provides an opportunity for potential suppliers to register with participating companies. The forum will include a number of workshops, including sessions on the private sector’s vital role in Saudi Arabia’s economic growth along with PIF’s enabling role.  In addition, there will be sessions on opportunities for companies within PIF’s giga-projects and emerging sectors in Saudi Arabia.  The forum will also explore the private sector’s role in emerging markets and its role in developing critical infrastructure including for the housing and real estate sectors. 

The forum is part of PIF’s 2021-2025 strategy to “crowd in” the private sector, creating more opportunities for local businesses to collaborate in growing a more diversified, globally competitive economy as envisaged by Vision 2030.  This is the latest PIF initiative dedicated to supporting and enabling the private sector and growing competitive and innovative industries in Saudi Arabia. 

Since 2017, PIF has established 71 companies, and in recent years, has generated more than 500K direct and indirect jobs. PIF has invested SAR 311 billion domestically between 2017 – 2020.