The Clap The Public Investment Fund (PIF) launched the Local Content Development Program with the aim of raising the Fund’s contribution to local content to 60% by the end of 2025.
The Deets The PIF wants to support and empower the private sector and stimulate the competitive and innovative advantages of national industries.
This, in turn, contributes to KSA’s efforts toward the important role of local content, in line with Vision 2030.
PIF’s Subsidiaries The fund’s subsidiaries signed contracts with the local private sector for about SAR 140 billion in 2021.
The building materials and services, construction, telecommunications, media, technology, and financial services sectors, accounted for nearly 60% of the total value of the aforementioned contracts.
Initiatives The PIF has many initiatives that aim to increase the localization of imported goods and services, in addition to raising awareness regarding the importance of local content programs and initiatives.