Yasir Al-Rumayyan, Governor of the Public Investment Fund (PIF)
During his speech at the opening of the PIF Private Sector Forum 2025, he pointed out that the total spending on local content through the PIF and its subsidiaries amounted to nearly SAR 400 billion between 2020 and 2023, supported by the contribution program. 
The contribution of local content within the Fund and its subsidiaries increased from 47% to 53% between 2020 and 2023, Al-Rumayyan noted, adding that the Fund continues to work towards raising this percentage in the coming years.
The Fund aims to be a driving force for investment, supporting the launch of new sectors and opportunities that contribute to shaping the future of the global economy and drive the transformation of the economy in the Kingdom.
The official highlighted that the partnership with the private sector is a crucial part of the Fund’s strategy, aligned with Vision 2030 for the future economy, based on building an economic model founded on integration with the sector and its leaders.
This aligns with the vision of Crown Prince Mohammed Bin Salman, who emphasized enhancing the role of the private sector and empowering it to become the primary driver of economic growth through providing of a stimulating investment environment.
Al-Rumayyan noted that sustainable economic growth is achieved through government efforts focused on developing regulatory policies and diversifying the economy, with the PIF acting as the key driver.
The role of the private sector is to seize opportunities and contribute to building local supply chains for new sectors, he added.
The Fund works to provide opportunities for the growth of the private sector, stimulate its capacity for innovation, and strengthen its role in the economy, aiming to increase its contribution to the Gross Domestic Product (GDP) to 65% by 2030, in line with Vision 2030’s goals.
The Fund’s strategy revolves around three main pillars, namely; investment spending and creating opportunities for suppliers, localizing capabilities in supply chains, and stimulating and attracting investments across the entire value chain, the official noted.
Yasir Al-Rumayyan, Governor of the Public Investment Fund (PIF)
During his speech at the opening of the PIF Private Sector Forum 2025, he pointed out that the total spending on local content through the PIF and its subsidiaries amounted to nearly SAR 400 billion between 2020 and 2023, supported by the contribution program.
The contribution of local content within the Fund and its subsidiaries increased from 47% to 53% between 2020 and 2023, Al-Rumayyan noted, adding that the Fund continues to work towards raising this percentage in the coming years.
The Fund aims to be a driving force for investment, supporting the launch of new sectors and opportunities that contribute to shaping the future of the global economy and drive the transformation of the economy in the Kingdom.
The official highlighted that the partnership with the private sector is a crucial part of the Fund’s strategy, aligned with Vision 2030 for the future economy, based on building an economic model founded on integration with the sector and its leaders.
This aligns with the vision of Crown Prince Mohammed Bin Salman, who emphasized enhancing the role of the private sector and empowering it to become the primary driver of economic growth through providing of a stimulating investment environment.
Al-Rumayyan noted that sustainable economic growth is achieved through government efforts focused on developing regulatory policies and diversifying the economy, with the PIF acting as the key driver.
The role of the private sector is to seize opportunities and contribute to building local supply chains for new sectors, he added.
The Fund works to provide opportunities for the growth of the private sector, stimulate its capacity for innovation, and strengthen its role in the economy, aiming to increase its contribution to the Gross Domestic Product (GDP) to 65% by 2030, in line with Vision 2030’s goals.
The Fund’s strategy revolves around three main pillars, namely; investment spending and creating opportunities for suppliers, localizing capabilities in supply chains, and stimulating and attracting investments across the entire value chain, the official noted.
