https://arab.news/rbvft
RIYADH: Saudi Arabia’s sovereign wealth fund is gearing up to host the second Private Sector Forum in February to strengthen the Kingdom’s local economy.
In an announcement on its website, the Public Investment Fund said the event, to be held on Feb. 6 and 7 at King Abdul Aziz International Conference Center, aims to support the fund’s private sector engagement.
The forum seeks to bolster business localization and promote stable supply chains within key sectors of the Saudi economy.
Key objectives include showcasing partnership opportunities, facilitating networking, enabling supplier registration, and providing information access about PIF programs.
The forum will feature discussions with leaders on the private sector’s importance in Saudi Arabia’s development, collaboration success stories, and opportunities in emerging regions.
Additionally, business opportunity workshops conducted by experts will provide information on specific localization investments and supply chain opportunities.
Representatives from over 50 PIF portfolio companies will participate in an exhibition to showcase opportunities and new projects, fostering networking and direct engagement.
The forum will also unveil key PIF programs, reinforcing the wealth fund’s commitment to growing collaboration.
Major partnerships between the private sector and PIF, along with its portfolio companies, will be announced, showcasing tangible progress in collaborative efforts for the Kingdom’s economic development.
In October 2022, the PIF launched a Local Content Growth Program to promote competition and innovation in the private sector.
PIF said that this program is in line with the fund’s strategic objective of building partnerships with the private sector to boost Saudi Arabia’s gross domestic product and to create 1.8 million jobs by 2025.