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.
Middle East diplomacy appeared to falter heading into Monday with the postponement of a meeting between Iran and other Gulf powers, while attacks around the region's two most important oil transit routes deepened concern over global energy supplies.
New strikes on Saudi Arabia and on ships in the Gulf tested nerves in the Middle East on Sunday, after an attack on a Saudi oil pipeline and an advance by Yemen's Houthis threatened to worsen the wartime disruption to global energy supplies.
Iraq closed three border crossings with Iran on Saturday, security officials told AFP, after a drone attack on a Saudi pipeline was launched from Iraqi territory, according to Riyadh and Baghdad.
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