The 8th edition of the Future Investment Initiative (FII8) conference is taking place in Riyadh until October 31. A key dialogue session focused on geoeconomics emphasized the critical role of investing in economies, supporting development projects, and establishing robust legal frameworks to attract international investors while harnessing technology for growth and prosperity.
Focus on economic growth
Yasir Al-Rumayyan, governor of the Public Investment Fund (PIF), chairman of Saudi Aramco, and chairman of the FII Institute, underscored that Saudi Arabia ranks among the fastest-growing economies globally and is poised to sustain this growth within the G20 in the years ahead. He further highlighted PIF’s commitment to investing in artificial intelligence, aiming to position the Kingdom as a global hub for AI innovation. Additionally, he discussed PIF’s ventures in the sports sector.
Importance of banking and technology
Additionally, conference participants stressed the importance of the banking industry and reserve funds, pointing out the necessity for advanced technologies and competitive salaries to attract and keep talent. They also noted that financial technology plays a pivotal role in enhancing the profitability and efficiency of businesses and banks amidst rapid technological changes.
GCC participation and goals
Furthermore, Jasem Mohamed Albudaiwi, secretary general of the Gulf Cooperation Council (GCC), participated in FII8, which carries the theme: “Infinite Horizons: Investing Today, Shaping Tomorrow.” The event was organized by the Future Investment Initiative Institute and drew leaders, heads of state, notable investors, and executives from major global and regional firms.
Highlighting Saudi Arabia’s role
During the event, Albudaiwi remarked that Riyadh’s hosting of FII8 highlights Saudi Arabia’s leadership in economic and investment matters on both regional and global fronts. The initiative further aims to foster collaboration between public and private sectors, stimulate innovation, and build a sustainable economy by offering innovative solutions to global issues. It also seeks to attract international investments and support entrepreneurs and startups, thus strengthening strategic partnerships and advancing the objectives of Saudi Vision 2030.
Confidence in the Saudi economy
Albudaiwi emphasized that the attendance of global leaders reflects strong confidence in the Saudi economy and enhances the Kingdom’s status as a global hub for economic and investment partnerships. He noted that FII8 aligns with the GCC’s efforts in investment and trade, particularly in attracting regional and international investors to the Gulf market. He also highlighted that the sovereign wealth funds of GCC member states manage vast global investment portfolios, holding approximately 33 percent of total global investments.
New strategic partnerships
Twelve international companies have joined the FII Institute’s strategic partner network. These new partners add to a growing coalition of leaders from diverse sectors, including business, technology, aviation, energy, academia, and public policy, all dedicated to fostering a sustainable and equitable future.
Year-round initiatives
The FII Institute conducts a year-round program featuring global initiatives, international summits, policy development, global surveys, and indices. Strategic partners play a vital role in this program by providing leadership, delegates, and participating in various initiatives. The twelve newly joined strategic partners include ACWA Power, ALAT, Claure Group, Franklin Templeton, King Salman International Airport, Minerva Foods, NBK, Premium Residency Center, Riyadh Air, and SCAI.
Commitment to positive impact
Richard Attias, CEO of the FII Institute, stated that the partners are essential to the mission of the FII Institute, which is to make a positive impact on humanity. He noted that as the network expands, they are uniting a global force for positive change and creating impactful initiatives.
Venture program announcement
Additionally, the FII Institute announced the introduction of General Atlantic and Lakestar as its inaugural venture program partners. These venture program partners are leading firms that will play a significant role in the forthcoming FII8 Investment Day. The program aims to bring together entrepreneurs and distinguished leaders in innovation, investment, business, and education to foster collaboration in addressing global challenges related to AI, robotics, sustainability, health, and education.
Collaborating for a sustainable future
The twelve new partners join an existing group of strategic partners, including the founding partner, the Public Investment Fund (PIF) of Saudi Arabia. They also collaborate with vision partners such as the Ministry of Investment of Saudi Arabia, Aramco, Diriyah, Emaar, GFH, HSBC, KAFD, Ma’aden, NEOM, New Murabba, Red Sea Global, Riyad Bank, ROSHN, the Royal Commission for AlUla, SABIC, Sanabil Investments, SNB, SoftBank Vision Fund, Standard Chartered, State Street, stc, THIQAH, and Vision Invest.
Harnessing collective power
Attias added that by joining forces with over 60 exceptional partners, they are harnessing collective power to tackle pressing challenges and foster a more sustainable future. Together, they are pushing boundaries to create a better world.
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