Saudi PIF launches National Security Services Co.

Logo of the Public Investment Fund and National Security Services Co.

Saudi Arabia’s Public Investment Fund (PIF) announced today, Dec. 29, 2020, the launch of the National Security Services Company (SAFE), aimed to develop and grow the Kingdom’s private security sector.

The new 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 Fund said in a statement.

Furthermore, the company will contribute to the growth of the Kingdom’s private security ecosystem and provide security services that include security consulting, security solutions, training and development, and a range of specialized services.

SAFE will integrate manpower and technology. The security services will deliver training programs that contribute to opening many employment avenues for Saudis in the security services sector, offering attractive benefits for personal and professional growth.

The company establishment is part of PIF’s investment strategy to contribute to Vision 2030 by launching and developing new sectors, localizing cutting-edge technology and knowledge, and enabling the private sector.

Since 2016, PIF created 10 new sectors, more than 30 new companies, and over 190,000 new jobs for Saudis, the statement noted.