Saudi Gazette report

RIYADH - Crown Prince Muhammad Bin Salman, deputy premier and minister of defense, will inaugurate the landmark Future Investment Initiative (FII) in Riyadh on Tuesday.

The investment conference, which will be held under the aegis of Custodian of the Two Holy Mosques King Salman, will be attended by more than 2,500 delegates and internationally-renowned business and investment leaders from over 60 countries.

The three-day event will be a game-changing platform exploring the new trends, opportunities, challenges and emerging industries that will shape the world economy and investment environment over the coming decades.

The Crown Prince, who is also chairman of the Council of Economic and Development Affairs and Public Investment Fund will invite the attendees to debate the opportunities and challenges that will shape the world economy and investment environment over the coming decades.

The first day of the conference will begin with CNBC’s Andrew Ross Sorkin leading a panel of financial experts in debating the new social, economic and intellectual frameworks needed to drive progress. In particular, the session will discuss the emerging trends which will likely have the greatest impact, and how public and private sector leaders can use these to succeed. Those speaking on the panel are: PIF Managing Director Yasir O. Al-Rumayyan, Chairman & CEO of First Eastern Investment Group Victor Chu, Chairman and CEO of BlackRock Larry Fink, IMF Managing Director Christine Lagarde, Co-CEO of Bridgewater Associates David McCormick and President and CEO of Saudi Aramco Amin Nasser.

Another key session will examine breakthroughs in artificial intelligence, robotics, virtual reality, big data, social media, medical science, and smart infrastructure are now converging to reinvent cities for the 21st century. Moderated by Maria Bartiromo, Global Markets Editor for Fox Business, high-profile participants will include Masayoshi Son, Chairman & CEO of Softbank Group.

An expo featuring the future Giga-projects will take place during the event, which are a key element of Saudi Arabia’s Vision 2030 economic program. The expo will offer delegates a glimpse of the future and unique experiences, utilizing cutting edge technology.

The first day will conclude with energy executives congregating at the Summit on Energy for a Sustainable Planet to discuss which technologies and innovations will shape the sector over the next ten years.

Taking place in the context of volatile oil prices and significant advances in energy and environmental technologies, the Summit will also examine the challenges of diversification through investment in renewable resources. Among those speaking at the Summit are: Minister of Energy, Industry and Mineral Resources Khalid Al-Falih; Rachel Kyte, CEO, Special Representative of the UN Secretary General, Sustainable Energy for All; John Rice, Vice Chairman, General Electric.

Powered by PIF, the event is being organized in the context of Saudi Arabia’s Vision 2030, a blueprint that is already charting the path for the Kingdom to harness its strategic location and strong investment capabilities. The attendees will also include established players, new innovators and creators across key sectors that will shape the future global economy.

“The FII will provide an unprecedented opportunity for many leaders and influencers around the world to better understand the future of the global investment landscape,” said Yasir Bin Othman Al-Rumayyan, managing director of PIF. “It will also act as a platform to showcase the PIF’s redefined investment mandate and strategy, as it progresses towards becoming the world’s largest sovereign wealth fund,” he added.

The event is designed around three key pillars: Shifting centers of power, the new investment paradigm and innovation for a better world.