PIF private sector forum displays business opportunities in Saudi Arabia

RIYADH, March 14 (KUNA) -- The Saudi Public Investment Fund (PIF) inaugurated at the Four Seasons Hotel in Riyadh on Tuesday the Private Sector Forum to showcase the available opportunities for local businesses. The forum gathered nearly 4,000 representatives of the Saudi private sector; it will explore cooperation, partnership and business opportunities with more than 50 PIF portfolio companies.
The two-day event aims to unlock business opportunities for the private sector in the Kingdom of Saudi Arabia, PIF Governor Yasir Othman Al-Rumayyan said in his inaugural speech.
He affirmed that Crown Prince Mohammad bin Salman - the Prime Minister, Chairman of the Council of Economic and Development Affairs, and Chairman of PIF, is keen on empowering the private sector to play a greater role in the national economy. "The Crown Prince supports the PIF's efforts to 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," Al-Rumayyan affirmed. "Vision Saudi 2030 targets raising the contribution of the private sector to the national economy from 40 percent to 65 percent," he said, adding that PIF specified 13 strategic sectors for involving the private sector as key partner. 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.
It will witness the signing of a number of agreements between PIF, portfolio companies and the private sector, which will enhance business opportunities and partnerships. (end) mdm.fas.gb