Saudi Public Investment Fund holds event to promote portfolio companies

The event brought together 75 companies and 200 individuals from PIF portfolio companies. (Shutterstock)
Updated 03 December 2019

Saudi Public Investment Fund holds event to promote portfolio companies

  • The PIF Way aims to help businesses in supporting the development of an effective governance structure

RIYADH: The Public Investment Fund (PIF) organized a Partners’ Forum on Monday as part of its efforts to support its portfolio companies as an active and engaged investor.

The event brought together 75 companies and 200 individuals from PIF portfolio companies working in a broad range of sectors.

Experts in digital disruption — including cybersecurity, artificial intelligence and data analytics — discussed future trends, and the risks and opportunities they create.

The forum also discussed the potential impact of technology on disparate industries across the PIF portfolio.

During the forum, the fund introduced and outlined the PIF Way — the mechanism by which it aims to support and drive value creation alongside its portfolio companies, building on the PIF’s independent governance and operational framework.

The PIF Way aims to help businesses in supporting the development of an effective governance structure, identifying and supporting new sources of growth and profitability, leveraging the fund’s infrastructure, and making the most of the advantages offered by the PIF’s extensive local and global network of companies, thought leaders, investors and government stakeholders.


Saudi FM says Israeli passport holders cannot visit kingdom

Updated 29 min 3 sec ago

Saudi FM says Israeli passport holders cannot visit kingdom

  • Said Israel policy unchanged
  • Israel on Sunday said that its citizens could now travel to Saudi Arabia

JEDDAH: Saudi Arabia confirmed on Monday that Israeli passport holders were not permitted to enter the Kingdom.

Foreign Minister Prince Faisal bin Farhan said the policy was unchanged despite Israel saying on Sunday that its citizens could now travel to Saudi Arabia.

“Our policy is fixed,” Prince Faisal told CNN. “We do not have relations with the state of Israel, and Israeli passport holders cannot visit the Kingdom at the current time.

“When a peace agreement is reached between the Palestinians and the Israelis, I believe the issue of Israel’s involvement in the region will be on the table.”

Analysts said the statements by both countries were significant as US President Donald Trump prepared to unveil his Middle East peace plan in Washington.

“Israel wanted to fool the Arabs, and to put Saudi Arabia in a difficult position, saying they had resolved the issue with the Kingdom and were ready for peace,” the Saudi political analyst Dr. Hamdan Al-Shehri told Arab News.

“But the Kingdom is saying, ‘No, you cannot visit until there is a solution,’ and we will find out tomorrow if the Trump peace plan is that solution.”

The 2002 Arab Peace Initiative, calling for normal Arab relations with Israel in return for its withdrawal from occupied land, was the benchmark, Al-Shehri said.

“If they are going to override the Arab Peace Initiative without a workable alternative, then of course the Kingdom will not establish diplomatic relations.”