Latest news with #PIFPrivateSectorForum2025
Zawya
18-02-2025
- Business
- Zawya
Saudi PIF unit awards contracts for key Madinah hospitality project
Rua Al Madinah Holding, a unit of Saudi sovereign wealth fund PIF, has signed two contracts as part of its efforts to accelerate the development of its key project - Rua Al Madinah Project. One of the Madinah's largest hospitality projects, Rua Al Madinah aims to facilitate the hosting of 30 million visitors by 2030, in alignment with the goals of the Pilgrims Experience Program. The contracts were sealed on the sidelines of the third edition of the PIF Private Sector Forum 2025, organized by the Public Investment Fund in Riyadh. It aligns with the company's strategy to support local content and reinforce its commitment to innovation, in line with PIF's strategic objectives and Saudi Vision 2030 to empower the private sector. Speaking on the occasion, CEO Engineer Ahmed W. Al Juhani, expressed delight at the company's participation in the PIF Private Sector Forum 2025, which aligns with the Saudi wealth fund's strategy to empower the private sector. CEO Engineer Ahmed W. Al Juhani said the strategic deals inked at the forum will help accelerate the work on Rua Al Madinah Project. It will also enhance the future of the hospitality field in the Saudi city and enrich the visitor's experience by elevating the services provided, he added.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
17-02-2025
- Business
- Trade Arabia
Saudi PIF unit awards contracts for key Madinah hospitality project
Rua Al Madinah Holding, a unit of Saudi sovereign wealth fund PIF, has signed two contracts as part of its efforts to accelerate the development of its key project - Rua Al Madinah Project. One of the Madinah's largest hospitality projects, Rua Al Madinah aims to facilitate the hosting of 30 million visitors by 2030, in alignment with the goals of the Pilgrims Experience Program. The contracts were sealed on the sidelines of the third edition of the PIF Private Sector Forum 2025, organized by the Public Investment Fund in Riyadh. It aligns with the company's strategy to support local content and reinforce its commitment to innovation, in line with PIF's strategic objectives and Saudi Vision 2030 to empower the private sector. Speaking on the occasion, CEO Engineer Ahmed W. Al Juhani, expressed delight at the company's participation in the PIF Private Sector Forum 2025, which aligns with the Saudi wealth fund's strategy to empower the private sector. CEO Engineer Ahmed W. Al Juhani said the strategic deals inked at the forum will help accelerate the work on Rua Al Madinah Project. It will also enhance the future of the hospitality field in the Saudi city and enrich the visitor's experience by elevating the services provided, he added.- TradeArabia News Service
Zawya
15-02-2025
- Business
- Zawya
Saudi Coffee Company strengthens partnerships at the PIF Private Sector Forum 2025
Saudi Coffee Company signs seven MoUs at the PIF Private Sector Forum 2025, reinforcing its role as an enable for Saudi Arabia's coffee industry through strategic partnerships with the private sector. RIYADH: The Saudi Coffee Company (SCC), a wholly owned subsidiary of the Public Investment Fund (PIF), announced the signing of seven strategic Memoranda of Understanding (MoUs) at the PIF Private Sector Forum 2025. These agreements reinforce SCC's commitment to advancing Saudi Arabia's coffee sector, fostering innovation, and strengthening private sector collaboration in alignment with PIF's economic diversification objectives. Speaking at the event, Khalid N. Abu Theeb, CEO of Saudi Coffee Company, said, 'The PIF Private Sector Forum 2025 provides an invaluable platform for fostering collaboration with the private sector. These strategic MoUs mark a significant milestone in SCC's mission to elevate Saudi coffee as a globally recognized premium product. By working closely with key stakeholders, we are ensuring a thriving and sustainable future for the Saudi coffee industry. Through these partnerships, we reaffirm SCC's role as a key enabler in Saudi Arabia's coffee ecosystem, ensuring shared success across the entire value chain through innovation, sustainability, and growth.' SCC marked the event by signing agreements with several key stakeholders across the coffee value chain. By enabling greater private-sector participation, SCC is fostering an environment that enhances collaboration and mutual growth. These partnerships, which aim to scale up production, also enhance sustainability, and promote Saudi coffee internationally, include: Innovation and Research: MoU with Shahia Food Company (Dunkin'): The Saudi Coffee Company and Shahia Food Company have partnered to explore potential collaboration opportunities, with a strong focus on research, innovation, and product development. The agreement also includes specialized training programs through the SCC Academy, aimed at enhancing barista expertise and elevating coffee preparation standards across the industry. MoU with Future Harvest: Recognizing the importance of technological advancement in coffee processing, SCC has signed an agreement with Future Harvest to explore freeze-drying technology. This collaboration will help enhance coffee preservation and maintain superior quality in processed beans. MoU with Ma'aden: A key milestone was achieved through SCC's agreement with Ma'aden, aimed at enhancing soil quality and developing specialized fertilizers tailored for coffee farming. The partnership will also involve knowledge-sharing initiatives, engagement with local suppliers, and collaboration on social responsibility projects supporting coffee-growing communities. Supply and Distribution: MoU with Alghanim Industries / Costa Coffee: SCC has entered a new collaboration with Alghanim Industries and Costa Coffee to enhance coffee bean production through local sourcing from SCC's new manufacturing facility. This agreement also includes product development initiatives, and a Free Zone partnership aimed at boosting international market access. MoU with Aani & Dani: Saudi Coffee Company has signed an agreement with Aani & Dani to collaborate on product development and coffee bean supply. This partnership will drive innovation in coffee offerings, leveraging high-quality Saudi coffee to create premium products for consumers. Infrastructure and Operations: MoU with Initial Saudi Group: SCC has inked a deal with Initial Saudi Group to provide facilities management services, ensuring the seamless operation of SCC's expanding infrastructure, including its coffee production and processing centers. MoU with Lawazem: To bolster supply chain efficiencies, SCC has secured a partnership with Lawazem for product supply and distribution. This agreement will improve market accessibility and enhance the availability of Saudi coffee across key domestic and international markets. -Ends- About Saudi Coffee Company (SCC) Saudi Coffee Company is a PIF-owned company tasked with re-energizing the Saudi coffee sector, from seed to cup, by empowering farmers, roasters, and café owners across Saudi Arabia. Its goal is to transform Saudi Arabia into one of the largest integrated coffee players in the world, securing a self-sufficient future for local industry while sharing Saudi Arabia's culture with the world.
Argaam
12-02-2025
- Business
- Argaam
Private sector to drive 80% of transport and logistics investments: Al-Jasser
Minister of Transport and Logistics, Saleh Al-Jasser, said the private sector is expected to account for 80% of targeted investments in the transport and logistics sectors. Speaking at the PIF Private Sector Forum 2025, the minister explained that the investments will be carried out through multiple partnership and integration models with the private sector. He highlighted recent agreements, including maritime and port contracts exceeding SAR 18 billion, noting that most port investments are led by private entities. Partnership-based investment opportunities worth SAR 240 billion will be offered across the transport and logistics sectors, the minister added.
Argaam
12-02-2025
- Business
- Argaam
Saudi economy surpasses key milestone in diversification: Investment Minister
Saudi Investment Minister Khalid Al-Falih said the kingdom's economy has passed a major milestone in its diversification process, with non-oil activities now accounting for 52% of total economic activity. Speaking at the PIF Private Sector Forum 2025, Al-Falih noted that Saudi Arabia's economy stood at SAR 4 trillion ($1.1 trillion) by the end of 2024. He revealed that private sector investments are expected to reach SAR 1.2 trillion in 2024, based on preliminary fourth-quarter estimates. This marks a sharp increase from SAR 600 billion before Vision 2030, bringing the country closer to its goal of raising fixed capital formation to 30% of GDP. The minister added that the number of registered investment licenses surged from around 4,000 in 2019 to approximately 40,000 today. Meanwhile, the number of global companies with regional headquarters in Saudi Arabia jumped from just five to nearly 600, a milestone expected by the end of this week. Al-Falih described the Public Investment Fund (PIF) as a "global benchmark" for sovereign wealth funds. He noted that many countries aiming to accelerate economic growth are now establishing sovereign funds—not just to boost reserves but to serve as key economic drivers. He also highlighted that US President Joe Biden recently referenced the PIF, underscoring the fund's growing global prominence and the increasing responsibility that comes with it.
