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Home » Events » The PIF Private Sector Forum Returns For Its 2nd Edition in February 2024 in Riyadh
The PIF Private Sector Forum Returns For Its 2nd Edition in February 2024 in Riyadh
The PIF Private Sector Forum Returns For Its 2nd Edition in February 2024 in Riyadh

The PIF’s Private Sector Forum is set to return for its 2nd Edition on February 7th- 8th at the King Abdulaziz International Conference Center in Riyadh.

The event is due to welcome over 100 exhibitors, 8,000 attendees, and 500 C-level executives from both public and private sector companies.

The forum aims to act as a bridge between The Saudi Sovereign Wealth Fund together with its portfolio companies and private sector companies.

The event is designed to highlight business opportunities and accelerate the economic growth in The Kingdom.

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The PIF Private Sector Forum Overview

Image Credit The PIF

The PIF Private Sector Forum is more than just an event. It is an engaging platform that catalyzes partnerships, fosters networking, and empowers the private sector. It will be held in the King Abdulaziz International Conference Center in Riyadh which is located next to The Ritz-Carlton Riyadh.

The forum clearly manifests the fund’s commitment to bolster business localization, promote stable supply chains within key sectors of the Saudi economy, and ultimately accelerate economic growth in the Kingdom.

The PIF Private Sector Forum Attendance

Image Credit The PIF

The upcoming edition of the forum is set to welcome an impressive array of attendees. With over 100 exhibitors, 8,000 attendees, and 500 C-level executives from both public and private sector companies, the event promises a rich cross-pollination of ideas and opportunities. 

This extensive participation reinforces the forum’s standing as a premier networking and partnership-building platform.

Ibrahim Al-Rashid, CEO of SDB, said: “The cooperation agreements and memorandums of understanding with our partners in the government, private, and nonprofit sectors come to open new horizons for entrepreneurship and small and emerging enterprises by developing new systems for financing, training, and qualification.”    

The PIF’s Forum Objectives

Image Credit The PIF

The forum includes multiple hats; it bridges PIF, its portfolio companies, and the private sector in Saudi Arabia. It catalyzes localization, fostering a robust supply chain across critical sectors.

It is a networking platform, an information hub, a gateway to partnership opportunities, and a medium to empower the private sector. The forum is a testament to PIF’s commitment to stimulating economic growth in the Kingdom.

The PIF Private Sector Forum is driven by clear, strategic objectives. These include:

  • Showcasing Partnership Opportunities: The forum will present various opportunities for collaboration between PIF, its portfolio companies, and the local private sector. This interaction can help build strong connections and foster economic growth and development partnerships.
  • Networking Opportunities: The forum will provide an excellent platform for networking, allowing attendees to build valuable connections with PIF and its portfolio companies. This interaction can open up new avenues of collaboration and business opportunities.
  • Registering as a Valuable Supplier: The forum will provide direct access for companies to register as valuable suppliers with PIF’s portfolio companies.
  • Empowering the Private Sector: The forum is designed to empower the private sector by providing information about PIF programs that can help them thrive. It aims to promote and strengthen localization and support the development of stable supply chains in key sectors.

Head of the National Development Division at PIF, Jerry Todd, said: “PIF has a key role in enabling a thriving private sector as a major investor and driver for the diversification of the local economy. This forum is dedicated to engaging with the domestic private sector and showcasing available opportunities, as well as demonstrating that through working together we can build local capabilities, create opportunities for private sector players across the value chain, in line with the Saudi Vision 2030

Exhibition Showcase

Image Credit The PIF

The exhibition showcase, featuring representatives from over 50 PIF portfolio companies, is integral to the forum. This exhibition will highlight 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.

The Role of AI in Customer Experience

A key theme of the PIF Private Sector Forum will be the customer experience, emphasizing the role of artificial intelligence (AI). The forum will explore how AI can enhance client exchanges and improve service efficiency in both the public and private sectors. 

It will also delve into future trends in the client experience sector and discuss how AI can build emotional connections with customers and provide smart experiences.

Participating Portfolio Companies

Image Credit Red Sea Global

A diverse range of portfolio companies will participate in the forum, providing a unique opportunity to explore potential collaborations and partnerships., including

The Importance of Market Research

The PIF Private Sector Forum will highlight the importance of market research in enhancing customer experience. With customers becoming increasingly mature and demanding, market research has become essential for maintaining competitive standards in the market. 

The forum will explore how market research can be used to understand customer focus and behaviors and discuss its role in driving sustainable improvement in customer interactions.

Enhancing Client Exchanges

Image Credit The PIF

The PIF Private Sector Forum will also focus on strategies to enhance client exchanges. With customer experience becoming a key differentiator in today’s market, establishments strive to improve client exchanges. 

The forum will discuss building emotional connections with customers and providing superior experiences that set them apart from competitors.

The Future of Customer Experience

The PIF Private Sector Forum will conclude with a forward-looking discussion on the future of customer experience. With the increasing presence of AI, the growth of consumer needs, and heightened competition, customer experience has become a decisive factor in the consumer market. 

The forum will explore how establishments can use these trends to their advantage and provide superior customer experiences.

The PIF’s Strategy for 2021-2025

Image Credit The PIF

The forum is part of PIF’s 2021-2025 strategy to “crowd in” the private sector, creating more opportunities for local businesses to collaborate in growing a more diversified, globally competitive economy, as envisaged by Saudi Vision 2030.

PIF’s Contribution to the Economy

Image Credit The PIF

Since 2017, PIF has established 71 companies, including the newly launched Dan Company, Ardara, Al Balad Development Co., SRJ Sports Investments, AL Madinah Heritage Company, and Asfar, generating more than 500K direct and indirect jobs in recent years. 

Additionally, the PIF has emerged as the top global sovereign wealth fund investor in 2023. The PIF invested a remarkable $31.6 billion across 49 deals, a 33% increase from 2022. 

The PIF’s diverse portfolio, spanning aviation, sports, gaming, electric vehicles, and luxury hotels, aligns with Saudi Vision 2030 goals to diversify the economy from oil.

Platform for Growth

[Image Credit: The PIF]

The PIF Private Sector Forum is more than just an event. It is a platform for innovation, collaboration, and growth. 

With its focus on enhancing customer experience, promoting business localization, and fostering partnerships, the forum is set to play a pivotal role in driving Saudi Arabia’s economic development. 

As the Kingdom looks to the future, the PIF Private Sector Forum will continue to be a light of progress and a catalyst for change.

Keep Reading: Saudi Arabia’s PIF Emerges As Top Global Wealth Fund Investor in 2023 with Over $31 Billion in Deals.

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