PIF partners with private sector to deepen impact, accelerate growth: Governor

PIF Governor Yasir Al-Rumayyan says efforts are underway to empower the private sector to lead the Kingdom’s economic transformation.

The Public Investment Fund (PIF) is working with the private sector to deepen impact and build a cohesive economic ecosystem that will drive sustainable growth through a comprehensive approach aligned with the investment cycle, PIF Governor Yasir Al-Rumayyan said.

Speaking at the Private Sector Forum 2026, Al Rumayyan said efforts are underway to empower the private sector to lead the Kingdom’s economic transformation, positioning it as a key partner in growth and a driver of opportunity creation.

He noted that the PIF's Local Content Growth Program, MUSAHAMA, helped boost spending on local content through PIF portfolio companies over recent years, reaching SAR 591 billion during the 2020–2024 period.

Al-Rumayyan added that the Contractors Financing Program enabled the execution of PIF projects worth more than SAR 10 billion through innovative financing solutions, raising local contractors’ share of participation in PIF projects to 67% in 2025.

He said that the PIF’s private-sector platform has offered more than 190 investment opportunities totaling over SAR 40 billion through international partnerships and supply chain localization.

The governor explained that the impact of the fund’s programs and initiatives, which aim to strengthen its partnership with the private sector, extends beyond financing.

These include enhancing corporate readiness, building national capabilities, and creating high-quality job opportunities within an ecosystem governed by the highest standards of efficiency, transparency, and governance.

He explained that, in line with the objectives of the third phase of Saudi Vision 2030 and the fund’s five-year strategy, PIF is moving from building sectors to integrating ecosystems, and from creating opportunities to accelerating growth, inviting the private sector to partner in shaping a diversified and resilient economy.

Al Rumayyan noted that the fund will continue empowering ecosystems and building the enablers of growth, while the next phase requires the private sector to demonstrate greater readiness, ambition, and the capacity to scale and innovate.

In this stage, the private sector’s role shifts from execution to contributing to economic development and value creation across value chains, amid rapid transformations driven by its readiness and investment in innovation.

He said that over the next five years, competition will be reshaped through deep transformations in business models, artificial intelligence (AI), capital markets, content localization, and supply chain.

The opportunity for the private sector in the Kingdom today is the largest ever to lead economic growth, shape the future, and achieve sustainable returns, the governor added.