Saudi Arabia’s sovereign wealth fund, Public Investment Fund (PIF), announced yesterday, Dec. 29, 2020, the launch of the National Security Services Company (SAFE), targeted to improve and develop the private security sector in the Kingdom.
According to reports, the proposed company will offer security services in line with leading international standards and practices and align with PIF’s investment strategy to contribute to Vision 2030 by launching and developing new sectors and enabling the private sector.
The National Security Services Co will integrate manpower and technology. The security services will deliver training plans that lead to opening many employment avenues for Saudis in the security services sector, providing attractive benefits for personal and professional development.
PIF, which manages over SR1.3 trillion ($350 billion) in the past four years, and it has committed a total of SR311 billion in the Saudi economy during that period. The company has set up 10 new sectors, more than 30 new companies, and over 190,000 new jobs for Saudi Arabia citizens, since establishment in 2016.
