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FinancialNews
15-03-23
PIF inks four deals to improve nation’s private sector
(MENAFN) Saudi Arabia’s Public Investment Fund has inked four deals with domestic entities to improve the private sector via many strategic fields in the nation.
The memorandums of understanding were inked on the offshoots of the inaugural PIF Private Sector Forum in Riyadh.
“Through the signing of the four MoUs, PIF aims to enable the growth of the local private sector by creating more opportunities, enhancing its knowledge and capacity for innovation and encouraging the localization of supply chains in strategic sectors,” the PIF stated in its press release.
As part of the deal, the Local Content and Government Procurement Authority participated PIF to surge the nation’s domestic content via improving associated plans and tactics, according to the statement.
As well as improving content for the PIF and its portfolio firms, the cooperation aims to propose domestic content prospects in the sovereign fund’s strategic industry.
MENAFN15032023000045014228ID1105783064
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