PIF Launches Local Content Growth Program to Grow Competition and Innovation in the Private Sector

Riyadh, October 27, 2022, SPA

"The Public Investment Fund (PIF) today announced the launch of its Local Content Growth Program which aims to leverage PIF spending to catalyze the development of at-scale, competitive, and innovative sectors and industries in Saudi Arabia. The Program will aim to achieve the Fund’s aspiration of increasing its contribution to the Saudi economy by increasing PIF and its affiliates’ contribution to local content to 60% by the end of 2025, thereby enabling and supporting the country’s private sector in line with Saudi Arabia’s Vision 2030."

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