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Saudi Arabia 100 riyals banknotes, The Saudi riyal is the currency of Saudi Arabia, Saudi kingdom one hundred riyals with the photo of king Salman Bin Abdulaziz and Madinah Prophet mosque, selective focus. Image used for illustrative purpose. Getty Images
The Public Investment Fund’s (PIF) private sector hub offers investment opportunities worth 40 billion Saudi riyals ($10.7 billion), the fund’s Governor has said.
The total spending on local content through the PIF and its portfolio companies reached SAR 400 billion between 2020 and 2023, supported by the Musahama programme, Yasir Al-Rumayyan said in the opening remarks of the PIF Private Sector Forum 2025.
He said that the share of local content in the PIF and its portfolio entities increased from 47% to 53% from 2020 to 2023, adding that the fund is working to improve this percentage in the coming years.
The PIF works to provide growth opportunities for the private sector, stimulate its capacity for innovation, and strengthen its role in the economy, Al-Rumayyan said.
The fund aims to increase its contribution to the country’s gross domestic product (GDP) to 65% by 2030, he added.
(Editing by Seban Scaria seban.scaria@lseg.com )
