SIDF News

"The Saudi Industrial Development Fund (SIDF) has signed a cooperation agreement with the Public Investment Fund (PIF) to enable suppliers and graduates of the Suppliers Development Program under the PIF's subsidiaries to benefit from the financing solutions provided by SIDF.

 

Representing SIDF at the signing ceremony was Mr. Khalil Abdulqader Al-Nammari, VP, Strategic Planning and Business Development, and Official Spokesperson, while PIF was represented by Jerry Todd, Head of the National Development Division, PIF.

 

The agreement aims to enhance collaboration within SIDF's ""Tawteen"" program, focusing on projects related to local content. It also aims to identify potential cooperation opportunities to empower the industrial sector and investors, contributing to the enhancement of local content in goods and services in line with Saudi Vision 2030.

 

This agreement is part of SIDF's efforts to enhance the support it provides by expanding its partnerships with various government and private sector entities, thereby increasing the effectiveness of SIDF's programs, products, and solutions for the private sector.

 

The agreement aligns with the strategy of PIF to empower the private sector and enhance its role, thereby achieving the Fund's goal of increasing its contribution to local content development to 60% by 2025."