Saudi Arabia has launched Tasama, a new integrated business services platform established by a subsidiary of the Public Investment Fund (PIF), aiming to accelerate private sector growth and attract international companies to the Kingdom.
Tasama was formed through the merger of Business Incubators and Accelerators Co. (BIAC), formerly under TAQNIA, and PIF’s Shared Services Center. According to an official statement, the platform will support both public and private sector entities by delivering a full suite of services, from HR and accounting to procurement and workspace solutions.
The launch aligns with PIF’s broader strategy to diversify the Saudi economy under Vision 2030 and make the Kingdom a more attractive destination for regional headquarters and international businesses. It also comes at a pivotal moment for the sovereign wealth fund, which recently surpassed $1.15 trillion in assets under management, according to Global SWF.
Tasama aims to become Saudi Arabia’s leading provider of business support, offering end-to-end operational services, access to digital tools, business incubators, and scalable office solutions. The platform is designed to simplify entry for global firms while accelerating the launch and expansion of local businesses.
This move comes as PIF shifts from rapid growth to a new phase focused on strategic solvency, financial discipline, and long-term returns. According to Global SWF, this reflects a recalibration of Saudi Arabia’s investment engine: “solvency over scale, substance over show.”
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