RIYADH — The Governor of the Public Funding Fund (PIF), Yasir Al-Rumayyan, referred to as on the personal sector to step up its function in Saudi Arabia’s subsequent section of financial transformation, because the Public Funding Fund strikes from constructing strategic sectors to integrating methods and scaling progress throughout the economic system.
“We meet right this moment at a pivotal stage of the Kingdom’s economic system, the place ambition reaches the place alternatives are measured by returns, diligence, and willpower,” Al-Rumayyan stated on Monday in his opening deal with on the fourth version of the PIF Personal Sector Discussion board.
He described the discussion board as “the most important platform of its variety to grab partnership and cooperation alternatives with the personal sector,” noting that participation has reached 25,000 since 2023, together with authorities and private-sector leaders and world traders.
Reflecting on the earlier version, Al-Rumayyan stated dialogues have been translated into tangible outcomes, with greater than 140 agreements signed, valued at over SR15 billion.
He stated the outcomes underscored “the partnership that binds us” in reworking the Saudi economic system and reaffirmed the fund’s dedication to enabling the personal sector “to contribute to main the financial transformation within the Kingdom, to be an enabler of progress and a creator of alternatives.”
Al-Rumayyan stated the PIF works with the personal sector to “maximize the impression and construct an built-in financial system that leads sustainable progress,” following an investment-cycle method that begins with risk-taking in strategic sectors and extends to partnerships and initiatives that stimulate native content material, supply-chain localization, functionality constructing, industrial growth, and infrastructure.
He stated spending by the fund and its portfolio firms on native content material reached SR591 billion between 2020 and 2024, pushed by the Native Content material Growth Program.
The Contractor Growth Program, he added, contributed SR10 billion by revolutionary financing options, elevating the participation fee of native contractors in PIF tasks to 67 p.c in 2025.
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Al-Rumayyan stated the fund’s platform for optimum deployment has supplied greater than 190 funding alternatives price over SR40 billion by worldwide partnerships and localized provide chains.
“The results weren’t restricted to provide,” he stated, including that the initiatives additionally raised firm readiness, constructed nationwide competencies, and created job alternatives “inside a system that applies in accordance with the very best requirements of effectivity, transparency, and governance.”
He stated rising demand for funding within the Kingdom was evident within the presence of lots of of firms which have began or expanded operations in Saudi Arabia. “We welcome them as companions within the progress journey,” he stated.
Trying forward, Al-Rumayyan stated that since 2017 the fund has opened new horizons by long-term funding in strategic sectors, and that beneath the third section of Imaginative and prescient 2030 and the PIF’s five-year technique, the main target is shifting “from constructing sectors to integrating methods and from launching alternatives to commoditizing progress.”
“That is an open invitation to the personal sector to speculate and accomplice in creating a various and thrilling economic system,” he stated, including that whereas the fund will proceed to allow methods and lay the foundations for progress, the following stage requires the personal sector to point out greater readiness, ambition, and capability to scale and ship.
He stated the personal sector’s function is predicted to maneuver “from implementation to contributing to constructing the economic system and creating worth all through its chains,” amid speedy transformations in labor fashions, synthetic intelligence, capital markets, content material traits, and manufacturing chains.
“The chance earlier than the personal sector right this moment is the strongest alternative to take part in main progress, shaping the longer term, and reaching sustainable returns,” Al-Rumayyan stated, “and to take part with us within the journey of nationwide financial growth.”
