Riyadh - Sharikat Mubasher: The second day of the Private Sector Forum 2024 highlighted the importance of empowering the private sector, sharing knowledge and expertise, and supporting digital transformation, cloud services, artificial intelligence (AI), and cutting-edge cybersecurity technologies in the Kingdom.

In a panel session titled ‘Empowering Local Content to Unlock Private Sector Potential,’ CEO of the Local Content and Government Procurement Authority Abdulrahman Al Samari emphasized the importance of empowering local content to diversify the economy and provide more jobs and supply chains.

He stated that the local content rate in the Kingdom recorded 43%, adding that Saudi large companies are cooperating to achieve Vision 2030’s objectives.

Another panel session named ‘Advancing the Kingdom’s Manufacturing Landscape’ discussed the pivotal role that partnerships play in advancing the manufacturing landscape and the economic impact of new industries.

The session also showcased the incentives provided by the Kingdom to spur new industries and technologies, in alignment with Vision 2030.

The CEO of the Private Sector Partnership Reinforcement Program (Shareek) Abdulaziz Alarifi participated in the session along with Osama Al Zamil, previous Deputy Minister of Industry and Mineral Resources, and Mohammad Abunayyan, Chairman of the Board of Directors at Acwa Power.

The Public Investment Fund (PIF) organized the Private Sector Forum 2024 from 6 to 7 February, with the participation of more than 80 PIF portfolio companies and over 20 public sector leaders.

The two-day forum served as a platform for collaboration, unveiling new opportunities, and empowering the private sector to spearhead economic growth and achieve national goals.

It featured panel discussions and fireside chats on key themes with Ministers, PIF, portfolio companies, and private sector leaders and fireside chats with Ministers and giga-project CEOs.