Third Future Investment Initiative to Open in Riyadh

Business

October 29th, 7:18am

Riyadh - Mosaed al-Zayani

Participants look at a sign of the Future Investment Initiative during the investment conference in Riyadh, Saudi Arabia, on Oct. 23, 2018. (Reuters)

The third edition of the Future Investment Initiative (FII) is expected to open in Riyadh on Tuesday under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz and chairmanship of Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense. Organized by the Public Investment Fund (PIF), heads of states and senior officials of countries and major international companies will be attending and contributing to discussions that shape the future of global investment. India's Prime Minister Narendra Modi and Brazil's President Jair Bolsonaro, leaders of key emerging markets, are set to speak at the three-day event, along with King Abdullah II of Jordan and four African leaders. US Treasury Secretary Steven Mnuchin leads a high-powered American delegation that includes Energy Secretary Rick Perry and Jared Kushner, son-in-law and senior advisor to President Donald Trump. The CEOs of asset management firms Blackstone and SoftBank, as well as chairs of the sovereign wealth funds of Kuwait, UAE, Singapore and Russia are also expected to attend. Top executives from Bank of America and JPMorgan Chase are also on a long list of global bank representatives at the forum. PIF had announced important details on topics on the agenda of the conference, which will last until October 31, amid the presence of a number of prominent decision makers, major investors and international experts. Yasir Al-Rumayyan, the Governor of Saudi Arabia’s Public Investment Fund, said in a welcome message on Monday that the FII has evolved from just an annual gathering to become a hub for building relationships. “Until now the Future Investment Initiative has been an annual conference, today it is an institution... it will be a global hub to build relationships," he said. The FII raises questions about the next decade for the global economy with business leaders and policymakers exploring all means to boost growth amid growing uncertainty.

from Asharq AL-awsat https://aawsat.com/english/home/article/1966351/third-future-investment-initiative-open-riyadh