Saturday 19 January 2019

Top global investment experts set for Saudi summit

RIYADH, May 8, 2018

Leading global industry experts will converge in Riyadh this October to explore the trends, opportunities and challenges shaping the global investment landscape at the second Future Investment Initiative (FII) being hosted by Saudi Public Investment Fund (PIF).

The event is being held under the patronage of Saudi King Salman bin Abdulaziz Al-Saud, and the leadership of HRH Prince Mohammed bin Salman bin Abdulaziz, the Crown Prince, Deputy Prime Minister, Chairman of the Council of Economic and Development Affairs and also the PIF.

To be held from October 23 to 25 in capital Riyadh, the FII 2018 will bring together renowned visionaries with the power to shape the future of global investment to discuss three broad themes. These are:

•Investing in Transformation – focusing on how the world’s top investors are creating new cities and transforming economies;
•Technology as Opportunity – considering how technologies are enabling new economic opportunities through personalisation and industrialisation at scale; and
•Advancing Human Potential – looking at a world where humans and machines work together to create safer, more productive and happier lives.

FII was launched as a substantial international platform for expert-led debate between investors, innovators and governments as well as economic leaders, said the statement from PIF.

The inaugural event last year saw over 3,800 participants from more than 90 countries, join in the discussions and debates to explore future developments in the world economy, including investment trends around areas such as energy, infrastructure, Artificial Intelligence (AI) and robotics as well as new growth areas.

The second edition aims to continue building active, global networks of influential actors to further explore the emerging industries that will shape the global economy and investment environment over the coming decades, said the statement.

Yasir Al Rumayyan, the managing director of PIF, said: "After the success of the inaugural event, we are pleased to announce the 2018 edition of the Future Investment Initiative. The PIF is developing into one of the world’s leading and most impactful sovereign wealth funds, and we look forward continuing to build strong strategic partnerships while also showcasing the opportunity for private sector participation as Saudi Arabia’s economy continues to expand and diversify."

Last year’s event saw the launch of the Public Investment Fund Program (2018-2020), one of twelve Vision 2030 Vision Realization Programs, which will act as a roadmap to help drive the economic diversification in the kingdom and transform Saudi Arabia into a global investment powerhouse, stated Al Rumayyan.

In addition, an expo featuring cutting edge technology also showcased Saudi Arabia’s future Giga Projects, a key element of the Kingdom’s Vision 2030 economic program, he noted.

The expo opened following the launch of Neom by HRH Prince Mohammad bin Salman Al-Saud, Crown Prince, Deputy Prime Minister, Chairman of the Council of Economic and Development Affairs and of PIF, said the statement.

Launched to promote global collaboration, FII has already fostered new partnerships that will help transform industries in Saudi Arabia and globally. The 2017 edition saw future initiatives announced with Blackstone, SoftBank, Virgin Galactic, The Spaceship Company and Virgin Orbit, it stated.

The FII is being organised in the context of Saudi Arabia’s Vision 2030, the ambitious blueprint that is already charting the path for the kingdom to harness its strong investment capabilities and use its unique strategic location to become a global investment hub connecting three continents, it added.-TradeArabia News Service

Tags: Summit | Saudi PIF | Future Investment Initiative |

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