RIYADH: Saudi Arabia’s Public Investment Fund-linked Private Sector Investment Forum generated more than 30 agreements on its second day, targeting workforce development, industrial expansion and large-scale urban projects.

A major focus was human capital, with Azm Academy signing eight memorandums of understanding with companies, including Saudi Emaar, Masdar, and Tanatel, to provide specialized training programs tied to employment opportunities for Saudi nationals.

In urban infrastructure, Smart Accommodation for Residential Complexes Co. and Tamimi Global signed heads of terms to develop a 4,000-bed staff accommodation village in northern Riyadh covering about 142,000 sq. meters.

Tanatel also signed three technology-transfer agreements with JWICO, Voolcan Grupo and Michael Strads covering manufacturing capabilities in kitchens, outdoor furniture and hotel furnishings. Humain announced an MoU with ai.io alongside the acquisition of a stake in the AI-powered fitness and wellness company.

Speaking at a panel during the event, Humain CEO Tareq Amin said the Kingdom aims to position itself as a global artificial intelligence hub, leveraging energy resources and geographic connectivity. He described Humain as an AI company operating across the full value chain, anchored by large-scale data centers with gigawatt capacity.

Real estate activity centered on the planned King Salman International Airport, whose developer signed seven MoUs with firms including Mohamad Al Habib Real Estate, Sumou, Ajdan, Kinan and Retal.

The agreements collectively aim to collaborate on vast real estate projects surrounding the aviation hub, including master-planned residential communities, mixed-use developments, retail, and hospitality assets — all designed to support destination and economic activation.

Saudi Arabia’s electric vehicle ambitions featured prominently as Lucid signed agreements with Injelic and TUO PU, while Ceer partnered with AVL and FEV on technical collaborations.

In logistics infrastructure, Pandrol and RSF Sleepers agreed to establish local production of rail fastening systems to support the Kingdom’s rail expansion.

Saudi Coffee Co. signed five agreements to promote and distribute Saudi green coffee beans, while Aramco Digital and Tasama agreed to explore digital transformation initiatives. Red Sea Global partnered with LEAN on AI-driven wellness solutions for tourism developments.

The forum highlights PIF’s strategy of channeling private capital toward sectors prioritized under Saudi Arabia’s economic diversification plans, including manufacturing, tourism, infrastructure and workforce development.

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