A major investor forum opened Tuesday in Riyadh, Saudi Arabia, bringing together heads of state and business leaders as the oil-rich kingdom promotes its megaprojects and ambitions in artificial intelligence.
Stephen Schwarzman, co-founder, chairman and CEO The Blackstone Group © X
A major investor forum opened Tuesday in Riyadh, Saudi Arabia, bringing together heads of state and business leaders as the oil-rich kingdom promotes its megaprojects and ambitions in artificial intelligence.
The ninth edition of the Future Investment Initiative (FII), often dubbed the “Davos in the Desert”, will run for three days. Around 20 world leaders are expected to attend, including Syrian interim President Ahmad al-Chareh, Chinese Vice President Han Zheng, and top officials from both public and private sectors.
High-profile guests include Donald Trump Jr., and the CEOs of Goldman Sachs, JP Morgan, BlackRock, and HSBC, signaling continued international interest in Saudi Arabia’s evolving economic landscape.
Launched in 2017, the FII serves as a global stage for Vision 2030, the ambitious reform plan of Crown Prince Mohammed bin Salman, aimed at diversifying the kingdom’s economy and reducing its dependence on fossil fuels — a bold move for the world’s largest oil exporter.
This year’s forum places particular emphasis on emerging technologies, sustainable development, and global investment partnerships, reflecting Riyadh's efforts to reposition itself as a tech-forward economic hub in the region.
Saudi Arabia announced a major new investment package in Syria on Saturday, covering energy, aviation, real estate and telecommunications, as Riyadh deepens its support for Syria’s new leadership.
Some UAE companies have pulled out of a major defence show taking place in Saudi Arabia, two sources with direct knowledge of the matter told Reuters, the latest sign that a rift between the two Gulf oil powers is seeping into business interests.
German Chancellor Friedrich Merz began a tour of Saudi Arabia, Qatar and the United Arab Emirates on Wednesday aiming to forge energy and arms partnerships as Europe's biggest and richest economy sought to reduce dependence on the U.S. and China.
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