The investment deals concluded by Saudi Arabia during the Future Investment Initiative Conference 2018 amounted to about 50 billion dollars, including projects in the oil and gas, industry and infrastructure sectors, including 15 memorandums of understanding worth 34 billion dollars signed by Saudi Aramco.
<The conference was launched under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz and chaired by Crown Prince Mohammed bin Salman, Deputy Prime Minister, Chairman of the Council of Economic and Development Affairs and Chairman of the Public Investment Fund. <In the opening speech of the three-day conference, Saudi Arabia's sovereign wealth fund manager Yasser Al-Rumayyan said that “investment has the power to pave the way for solving the most difficult challenges facing the world today, and this is the reason for launching the Future Investment Initiative.” “This event is a global platform that aims to identify the most important future trends and explore promising economic opportunities that will shape the future of the economy and ensure that investment is a key contributor to prosperity and comprehensive development,” he said. “The initiative also represents an important opportunity to communicate between business leaders and investors, making it an unmissable opportunity for thousands of participants from around the world,” he said. “Saudi Arabia is becoming more transparent, and the Fund is continuing to develop new industries as part of the economic reforms launched by Prince Mohammed bin Salman,” Al-Rumayyan added. “The fund has invested in 50 or 60 companies through SoftBank's Vision Fund, and will bring most of these companies to Saudi Arabia,” he said, adding that the fund has committed to invest $45 billion in the Vision Fund. <The Future Investment Initiative opened with a panel discussion on how investment can inspire humanity with a unified vision for the future, with the participation of several sovereign wealth funds from Saudi Arabia, Russia and the United Arab Emirates. Participants included a host of heads of state, including Jordan's King Abdullah II, UAE Vice President and Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum, and VIPs from various African, Arab and Asian countries, including Bahrain, UAE, Lebanon, Ethiopia, Gabon, Senegal and Pakistan.
The FII opened with a panel discussion on how investment can inspire humanity with a unified vision of the future.
