Prime Highlights:

• Saudi Arabia’s PIF drives private sector collaboration with multiple agreements in tourism, urban development, industrial growth, and advanced manufacturing.
• Key partnerships include expansions in tourism platforms, smart urban solutions, and electric vehicle manufacturing.

Key Facts:

• Ceer, Saudi Arabia’s EV brand, plans 16 agreements worth SR3.7 billion, with 90% confirmed as commercial contracts.
• PIF signed MoUs with ABB Academy for workforce training and with Fraunhofer IAO for waste management and smart construction initiatives.

Background

On the first day of the PIF Private Sector Forum, companies signed several agreements in tourism, urban development, industrial growth, and advanced manufacturing, showing Saudi Arabia’s drive to boost private sector partnerships.

In tourism and entertainment, the Public Investment Fund’s Dan Co. signed a memorandum of understanding with Fresh on Table to expand its platform in Saudi Arabia. The partnership will support cooperation and set up consolidation centers at Dan Co.’s facilities in key cities. Dan Co. also signed an MoU with DRB Arabia to jointly develop the Tuaja Resort Community Center in Al-Ahsa. In another move, King Abdullah Economic City and Almosafer Travel and Tourism Co. agreed to form a joint venture to promote tourism and destination marketing.

The travel and digital services sector also recorded several agreements. Cruise Saudi partnered with FlyAkeed to improve travel optimization and digital innovation. FlyAkeed signed separate agreements with Al-Ula Club and the PIF to explore automation, digital transformation, and improved travel services.

In urban development, the PIF signed an MoU with ABB Academy to train workers. It also made an agreement with Saudi Tabreed to expand district cooling solutions, and Fraunhofer IAO will partner with the PIF on waste management and smart construction methods.

Industrial and logistics deals included an MoU between Nupco and Saudi Awwal Bank to strengthen healthcare supply chains. Saudi Arabia Railways partnered with Siemens Mobility to localize manufacturing and develop rail infrastructure. The Royal Commission of AlUla also signed an agreement with TASAMA.

In advanced manufacturing, Tasaru Mobility Investments and EV maker Lucid signed multiple agreements with global suppliers. Saudi Arabia’s EV brand Ceer announced plans to sign 16 agreements worth SR3.7 billion, with 90% confirmed as commercial contracts.