Most of the world’s leading major investors and financial markets will be focused on Riyadh this week, as over 170 major global CEOs attend the Future Investment Initiative (FII) being held by the Public Investment Fund of Saudi Arabia (PIF).
PIF is a pioneering new global investment event that will connect the world’s most powerful investors, business leaders, thought leaders and public officials with the pathbreaking innovations that are defining the future. Hosted under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al-Saud, and under the leadership of His Royal Highness Crown Prince Mohammad bin Salman Al-Saud, who will deliver opening remarks at the Forum, prominent names in business who are attending include, Sir Richard Branson, Head of the IMF Christine Lagarde, and Bertrand Marc Allen, the President of Boeing.
With over 80 countries being represented, the Future Investment Initiative is an example that since the announcement of Saudi Vision 2030, the Kingdom is playing a key role today in, gathering the sharpest minds, executives and decision-makers to play their part in implementing Saudi Arabia’s ground breaking Vision 2030 project. It illustrates the world’s key investors see the Kingdom as a country of hope, opportunity and a place to diversify business.
The Public Investment Fund of a Saudi Arabia will help provide new and unprecedented opportunities for CEOs, global investors, leading business decision-makers, entrepreneurs and innovators to see first-hand the opportunities created by the Kingdom of Saudi Arabia’s economic reform agenda. Crown Prince Mohammed bin Salman is also Chairman of the Council of Economic and Development Affairs and Chairman of PIF.
So far, the PIF has launched major national projects that will profoundly affect every industry in Saudi Arabia, from the oil sector to new economic sectors through tourism and entertainment. By 2030, the PIF expects more and solar energy are already underway. While Saudi Arabia’s Public Investment Fund has been making bold investments in Saudi Arabia, the Gulf, and abroad, the social transformations necessary to implement Vision 2030 are also proceeding.
This week’s conference, known as the Future Investment Initiative, will also gather the chairmen of the world’s leading sovereign wealth funds and pension funds. It’s speakers control a combined asset value of $22 trillion, or 25% of the world economy. That’s also a reason why some of the top financial journalists in the world are attending, including Maria Bartiromo of Fox News, Andrew Ross Sorkin of CNBC and Arianna Huffington of AOL and the Huffington Post.
What the forum hopes to be a key component of success is relationship building with an influential community of peers representing a range of sectors, geographies, demographics, and investment backgrounds, so they can explore the evolving role of sovereign wealth in driving the next wave of business, innovation, technology and investment.
This week’s Future Investment Initiative is a noteworthy component in the Saudi vision 2030 strategy, with connections reaching across the globe. Given the prominence of those attending the forum from the global financial sector this week, it also shows that when Saudi Arabia signals it is doing something, the world listens.