PIF launches third edition of Private Sector Forum; 100 portfolio companies showcased

• Saudi Arabia’s largest platform focused on the private sector is dedicated to strengthening partnerships and engaging investors to unlock strategic investments in the country
• Over 10,000 private sector attendees to be at the forum, which will feature 100 booths for PIF’s portfolio companies 

PIF today launched its third Private Sector Forum, along with an accompanying exhibition, at Riyadh’s King Abdulaziz International Conference Center. The forum, which takes place on February 12-13, is the largest platform of its kind in Saudi Arabia and is dedicated to enhancing partnerships and creating opportunities for the local private sector. 

The event is aligned with the directions of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister and Chairman of PIF, to engage local and international investors in continuing to expand strategic sectors in Saudi Arabia, and to increase the private sector contribution to GDP to 65% as set out in Vision 2030. The forum will welcome more than 10,000 local, regional and global business attendees.

Under the slogan “Joint aspiration for a thriving economy," the third edition will see the participation of government ministers, senior executives from PIF and its portfolio companies, representatives of government agencies and private sector executives from various strategic sectors. The event will also feature more than 100 booths showcasing PIF portfolio companies.

Jerry Todd, Head of National Development Division at PIF, said: “The Private Sector Forum is a platform for deepening and enhancing cooperation and partnership between PIF, its portfolio companies, and local private businesses. Now in its third edition, the forum continues to grow in size, scope and ambition, and represents PIF’s broader efforts to engage and enable the private sector and boost its contribution toward developing a more diversified economy with deep, tech-enabled local supply chains.” 

Over two days, forum participants will engage in a series of panels and workshops, exploring how to empower and enhance the role of the private sector. This is part of PIF’s strategy to increase the contribution of the local private sector into PIF projects and portfolio companies to 60%.

The forum will highlight PIF’s initiatives and programs that aim to enable the private sector. These include the MUSAHAMA local content development program, launched by PIF at the first Private Sector Forum, and which aims to increase the share of local content in PIF’s domestic portfolio. As a result of MUSAHAMA, the value of local content grew from SAR 69 billion in 2020 to SAR 153 billion in 2023, a 122% increase.

The Accelerated Manufacturing Program, which was launched in September of last year, aims to help industrial startups develop competitive and innovative products and services at scale. The program received 350 applications. Of these, 13 SMEs were selected, mentored and trained on topics such as strategy, operational excellence, sales and sustainability. They were introduced to several PIF portfolio companies, resulting in 12 commercial agreements and two product development deals with PIF portfolio companies. 

In addition, PIF’s Private Sector Hub now features more than 2,000 investors registered in the hub and displays over 200 opportunities, together worth a total of over SAR 40 billion. Introduced in 2023, the hub serves as a gateway for private sector firms to partner with PIF and its portfolio companies in strategic sectors. And last year PIF launched the Contractor Financing Program, the first program of its kind in Saudi Arabia and the region, to facilitate financing solutions for contractors working with PIF companies. 

This year’s Private Sector Forum will also announce the winners of the MUSAHAMA Design Competition, which was launched in collaboration with ROSHN to empower Saudi designers and promote the use of local materials in real estate development. The competition features two tracks: one for rising Saudi architects, which has attracted 373 Saudi participants (107 teams) from 24 universities across the country, and a track for emerging design firms, which has received applications from over 160 Saudi firms.