Yasser Al-Rumayyan, President of the Public Investment Fund, confirmed that the Fund is working in partnership with the private sector to build an integrated system that deepens economic impact and supports sustainable growth through a comprehensive methodology that aligns with the investment cycle, contributing to enabling the private sector to lead the Kingdom’s economic transformation and create opportunities.
He announced that in line with the objectives of the third phase of Saudi Vision 2030 and its strategy for the next five years, the Fund will move from building sectors to integrating systems, from creating opportunities to accelerating growth, by inviting the private sector to participate in building a diverse and robust economy.
In his speech at the Public Investment Fund and Private Sector Forum, Mr. Al Rumayyan pointed out that the local content development program “Contribution” contributed to raising the amount of spending on local content by the fund’s portfolio companies to 591 billion riyals in the period 2020-2024, indicating that the contractor financing program enabled the implementation of projects worth more than 10 billion riyals and increased the participation rate of local contractors. 67% by 2025.
He explained that the Fund’s private sector platform has provided more than 190 investment opportunities worth more than SR40 billion through international partnerships that have contributed to the localization of supply chains, noting that the impact of the Fund’s private sector efforts goes beyond lending to include increasing corporate readiness, building national capacity, and providing quality employment opportunities within a system that adopts the highest standards of governance and transparency.
“We are working together with the private sector and within the Fund to deepen the impact of what we have done in previous stages and build an integrated economic system that drives sustainable growth through a comprehensive methodology along the investment cycle,” said Yasir Al-Rumayan, President of the Public Investment Fund (PIF).
In his opening speech at the Public Investment Funds-Private Sector Forum held in Riyadh today (Monday), Al-Rumayan added that the forum has become the largest platform of its kind to seize opportunities for partnership and cooperation between investment funds and the private sector.
He explained that the Fund has succeeded in turning dialogue into concrete opportunities.
