PIF Private Sector Forum 2024: Fostering Collaboration for Economic Transformation

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PIF Private Sector Forum 2024: Fostering Collaboration for Economic Transformation

The 2024 PIF Private Sector Forum, organized by the Public Investment Fund (PIF), commenced on Tuesday at the King Abdulaziz International Convention Center in Riyadh. The event, spanning from February 6-7, 2024, aims to foster collaboration and showcase investment opportunities in strategic sectors within Saudi Arabia.

Over 8,000 participants, including government officials, senior PIF executives, and representatives from the private sector and 80 PIF-affiliated companies, gathered for the opening day sessions. Notably, the forum featured more than 100 booths showcasing PIF portfolio companies and government entities.

In his opening address, PIF Governor Yasser Al-Rumayyan emphasized the significance of the forum in strengthening partnerships with the private sector to advance PIF's strategic objectives. PIF remains a driving force behind Saudi Arabia's economic transformation, focusing on strategic sector development and engaging the private sector as investors, partners, and suppliers.

To bolster private sector participation, PIF has rolled out initiatives such as the Private Sector Hub, a centralized platform for private firms to engage with PIF and its portfolio companies. Since its launch in 2023, the hub has facilitated over 200 opportunities worth more than $5.3 billion.

PIF's efforts to enhance private sector involvement extend to its National Development Division (NDD). NDD supports national development through PIF investments, prioritizing private sector participation and emphasizing the role of private businesses in portfolio companies. Since its inception in 2017, PIF has established 93 companies, resulting in over 644,000 direct and indirect job creations in various promising sectors.