The ninth edition of the the Future Investment Initiative Conference, one of the world’s leading economic platforms, with broad participation from heads of state, ministers, sovereign wealth fund leaders, senior executives, and entrepreneurs, at the King Abdulaziz International Conference Center, under the slogan “The Key to Prosperity.”
This edition comes at a time when the Kingdom of Saudi Arabia is experiencing remarkable economic growth, with foreign direct investment rising by 241% during 2024 to reach $31.7 billion, while the Public Investment Fund stands as one of the world’s strongest sovereign wealth funds with total assets exceeding $900 billion, making the Kingdom a key player in shaping the new global economy, according to His Excellency Yasser bin Othman Al-Rumayyan, Governor of the Public Investment Fund, Chairman of the Board of Directors of Saudi Aramco, and Chairman of the Board of Trustees of the Future Investment Initiative Foundation
In his opening remarks at the Future Investment Initiative Conference, Al-Rumayyan a welcome address in which he emphasized that the conference has become the world’s most important gathering for decision-makers and investors, noting that since its launch less than a decade ago, the platform has witnessed deals worth over $250 billion.
Al-Rumayyan said: “We have come a long way, but this year we must raise our impact to new heights. The capital strength represented by those present today gives us a great responsibility and an even greater opportunity to shape the future of the global economy.”
He added that the world is undergoing a phase of rapid economic and technological transformation, in which old models are no longer able to keep pace with changes, stressing the need for governments and the private sector to cooperate as true partners to create a new model of shared growth and global prosperity.
Al-Rumayyan noted that global GDP has exceeded $111 trillion, and is expected to grow by 2.81% this year, according to the Forum’s annual priorities report. He explained that 66% of people feel positive about their lives, but only 37% are optimistic about the world’s future, while 69% fear losing their jobs due to foreign competition, highlighting the gap between individual hope and collective pessimism.
His Excellency noted that technology has the potential to bridge this gap if made accessible to all, but he warned that three out of four people fear that artificial intelligence will widen the educational gap between societies, stressing that the world must unite to address the inequalities that have hindered human progress, especially as some 808 million people (10.1% of the world’s population) are projected to remain living in extreme poverty through 2025.
Al-Rumayan emphasized that challenges create new opportunities to harness global capital to achieve security and stability, create jobs, and stimulate growth, calling on governments to adopt flexible policies and smart regulation that balance openness and oversight to achieve sustainable development.
He noted that the Kingdom’s Vision 2030, led by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, has set a new global standard in economic transformation, saying: “Nine years have passed since the launch of the Vision, and the results are evident everywhere: new cities, advanced industries, integrated systems, and innovative supply chains. We have introduced the Kingdom to the world, and now the world is coming to the Kingdom—to the Future Investment Initiative, to Expo 2030, and to the 2034 World Cup.”
He concluded his remarks by emphasizing that the Kingdom’s wealth is not measured by numbers, but by human prosperity, noting that this week Riyadh is transforming into a platform for global cooperation where cross-border partnerships are forged to create a real impact, noting that the ninth edition’s events will conclude with a declaration uniting world leaders in a shared pursuit of progress and prosperity for all.
