The first day of the ninth edition of the Future Investment Initiative (FII) conference concluded at the King Abdulaziz International Convention Center in Riyadh, under the theme \u201cKey to Prosperity,\u201d in the presence of heads of state, ministers, sovereign wealth fund officials, senior executives, and pioneers in various fields.<\/p>\n
The 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, Mr. Yasser bin Othman Al-Rumayyan, delivered the opening speech, welcoming the attendees, noting that this conference is the most important gathering in the world for those who have the vision to transform ideas and investments into a tangible global impact, as deals worth more than 250 billion US dollars have been concluded through this platform since the forum was launched less than a decade ago, and we have come a long way together, but this year we must take our impact to higher heights.<\/p>\n
His Excellency said:\u201d The power of capital represented by the decision makers present today imposes a great responsibility on us, and at the same time gives us a greater opportunity to shape the future of the global economy, and we must assume this responsibility and seize this opportunity without delay. The world has changed since we last met twelve months ago, investors and companies are facing a new economic reality and accelerating technological transformations. The old models that brought us to this point are no longer able to keep pace with the future, governments cannot correct the course alone, nor can the private sector bear the burden alone, and the solution lies in the unity of efforts between governments and the private sector as true partners, and we need a new model, and global cooperation in line with a new era of shared prosperity.\u201d.<\/p>\n
His Excellency emphasized that the Future Investment Forum is the ideal platform as it brings together world leaders, investors and decision makers from various sectors, pointing out that the global GDP exceeded (111) trillion US dollars and is expected to grow by (2. 8%) this year, adding that this year's annual priorities report shows the size of the existing contradictions.While 66% people feel positive about their lives, only 37% are optimistic about the future of the world, and 69% people are worried about losing their jobs due to foreign competition, and this gap between individual hope and collective doubt is a warning.<\/p>\n
He stated that technology can contribute to bridging the gap if it is accessible to all, and three out of four people fear that AI will widen the educational gap between societies that have educational opportunities and those that lack them, and we cannot allow this to happen, we must confront the inequalities that hinder progress, pointing out that in 2025, approximately 10% of the world population, equivalent to about 808 million people, live in extreme poverty, stressing that with every challenge comes an opportunity to find solutions that serve humanity as a whole.<\/p>\n
Governments and the private sector must work together to harness global capital for security, stability, opportunity and optimism, and governments must step up their efforts, given the need for open rather than restricted markets and smart rather than over-regulated regulation.<\/p>\n
H.E. Mr. Al-Rumayyan said:\u201d Under the leadership of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, the Kingdom has set a new global benchmark in economic transformation through Vision 2030, which opened wide horizons for future generations, nine years have passed since the launch of the vision, and the results are evident everywhere: New cities, new industries, integrated ecosystems, innovative supply chains, and just last year, foreign investment grew by 24% to $31.7 billion. We introduced the Kingdom to the world, and now the world is coming to the Kingdom, to the Future Investment Initiative every year, to Expo 2030, to the FIFA World Cup 2034.<\/p>\n
He emphasized that wealth in the Kingdom is not measured by numbers, but by human prosperity, and in Riyadh this week, there are opportunities to forge cross-border partnerships that make a real impact and embody the true power of global cooperation, adding that the Future Investment Initiative will continue its pioneering role, and this edition will conclude with a declaration that unites world leaders in a common pursuit of progress for all.<\/p>\n
For his part, Richard Attias, Chairman of the Executive Committee and Acting CEO of the Future Investment Initiative Foundation, welcomed the global leaders and international guests to the ninth edition of the Future Investment Initiative, expressing his pride in what the Future Investment Initiative has achieved in building a passionate community that aspires to change the world.<\/p>\n
He recalled the beginnings of the FII, where the dream was to gather the world's decision makers not to compete but to collaborate, not just to talk about the future but to shape it, noting that this year's edition reached 9,000 delegates including 2,000 members and media groups from around the world.<\/p>\n
Richard Attias emphasized that today's achievement is a historic record and a launch of the theme \u201cThe Key to Prosperity\u201d that shapes the world, noting that this year's initiative is more inclusive with ideas moving forward to support bold movement in health, artificial intelligence and human development.<\/p>\n
He stated that the FII belongs to everyone, a strength that comes from teamwork and succeeds if each of us who are members of this movement and its ideas are co-creators of transformation, pointing out that in the coming days, new paths of financing, creativity and courage will be revealed, and this is what the initiative represents.<\/p>\n
His Excellency the Minister of Investment, Eng. Khalid bin Abdulaziz Al-Falih, revealed that foreign direct investment in the Kingdom has doubled (4) times, exceeding the set goals, adding that the Kingdom's Vision 2030 has proven over the years that it is a reality and not a dream.<\/p>\n
His Excellency made the remarks during his participation in a panel discussion titled \u201cLeaders of Public-Private Alliances\u201d during the ninth edition of the\u00a0Future Investment Initiative Conference<\/a><\/strong>He pointed out that the Kingdom's economy is no longer based on oil, and that (40%) of the Kingdom's budget and expenditures are funded by non-oil revenues, and (90%) of the Kingdom's foreign direct investment is non-oil, noting that the Kingdom has made further progress and transformation in new and exciting sectors, such as advanced manufacturing, technology, tourism, entrepreneurship, deep technologies and venture capital: Advanced Manufacturing, Technology, Tourism, Entrepreneurship, Deep Tech, and Venture Capital.<\/p>\n His Excellency stressed that the Kingdom was able to overcome many obstacles such as: Corona pandemic, oil declines, and regional tensions, thanks to large reserves and high stability, which is a strength for the Kingdom, pointing out that the non-oil economy rose to (5%), indicating that the past two years have seen more new and promising investment opportunities in the Kingdom, including artificial intelligence and acceleration in digital transformation, pointing out that major national projects continue their work and some are preparing to open their doors.<\/p>\n His Excellency concluded by emphasizing that the Kingdom believes strongly in a strong partnership between the private sector and the government sector that stands behind the private sector and even with partnerships with foreign investors, noting the Kingdom's commitment to minimizing barriers to trade.<\/p>\n Participants in the session pointed out that the energy-related sectors are promising and full of innovation that will build a better future for humanity, noting that partnerships between the public and private sectors will contribute to reaching the goals in a shorter period of time.<\/p>\n Participants highlighted the importance of harmonization between the public and private sectors to face challenges and shocks, pointing out that high flexibility and operational flexibility would achieve many promising investment opportunities that provide balance in the market in general, noting that governments should work to set clear frameworks for the work of the public and private sectors, which will pave the way for more investment opportunities between all countries.<\/p>\n WTO Director-General Dr. Ngozi Okonjo-Iweala stressed that the international trading system is going through a phase of pressures and challenges, but it is still effective and influential in stabilizing global trade, noting that more than (70%) of global trade passes through the WTO system.<\/p>\n This came during her participation in a panel discussion titled \u201cWill the world shift from free trade to strategy?\u201d as part of the 9th edition of the\u00a0Future Investment Initiative Conference<\/a><\/strong>The future of global trade, and the most prominent shifts in the international trading system.<\/p>\n Dr. Iweala explained that the international trade system needs reforms and modernization in line with the rapid economic and technological changes, considering that the current stage represents an opportunity to rebuild the global trade system on more flexible and fair foundations, in light of the rapid growth of the global economy by (4%), the increase in trade in the digital sector by (8%), with the volume of e-commerce reaching levels close to one trillion dollars, and the increase in trade in the digital sector by (8%), with the volume of e-commerce reaching levels close to one trillion dollars.<\/p>\n She stressed that artificial intelligence, digital trade and green trade represent major pillars in the future of global trade, and that studies conducted by the organization showed that technologies related to artificial intelligence contributed to a growth of about (5%) in international trade, and related sectors led a growth of more than (40%), noting that there are ongoing negotiations between member states on setting clear standards for data exchange and regulating digital trade, explaining that trade in this area reached about (3) trillion dollars, including products such as computers and connectors.<\/p>\n Iweala concluded by emphasizing that international cooperation is the best way to overcome the current challenges, and that continued dialogue and joint action among member states enhances the stability of the global trading system and provides greater opportunities for development and sustainable growth.<\/p>\n Participants in the \u201cSovereignty vs. Globalization\u201d session at the ninth edition of the\u00a0Future Investment Initiative Conference<\/a><\/strong>that the world needs to diversify supply chains, become more energy self-sufficient, invest in data and technology centers, andArtificial intelligence<\/a><\/strong>and holding more joint trade between allied and friendly countries.<\/p>\n H.E. Ali bin Ahmed Al-Kuwari, Qatar's Minister of Finance, H.E. Rachel Reeves, UK Treasury Secretary, and Mehmet \u015eim\u015fek, Turkish Treasury Secretary, addressed the importance of globalization, trade, artificial intelligence, cooperation between countries, signing technical agreements and direct partnerships to find solutions to economic crises, and the importance of working to strengthen the work of multilateral organizations, especially after working hard for years to build a system based on rules, participation and joint cooperation.<\/p>\n \u201cOne of the UK government's priorities is to grow the economy; to do so requires a solid foundation of stability to do so as well as building relationships with important allies,\u201d said the Chancellor of the Exchequer, outlining the UK's trade deals with a number of countries and trade agreements that emphasize competitiveness.<\/p>\n For his part, Qatar's finance minister emphasized that Qatar is open to\u00a0Foreign investments<\/a><\/strong>\u00a0Citing the 2022 World Cup, which gave a great impetus to building Qatar's infrastructure and identity, he looked forward to capitalizing on this while continuing to attract international investments, especially since Qatar is one of the largest LNG producing countries in the world, noting the importance of cooperation with the whole world towards building partnerships and direct investments such as economic cooperation and trade agreements: Economic cooperation and trade agreements.<\/p>\n He explained that artificial intelligence and technology are part of the strategies in his country's plan to diversify the economy, and that investing in artificial intelligence and energy is important and logical, and Qatar has distinguished national capacities in data, innovation and aviation.<\/p>\n For his part, the Turkish Treasury Minister noted the importance of countries investing in international and regional integration, as it has benefits in strengthening risk-bearing aspects such as: He stressed the importance of technology, health, security, artificial intelligence, data and cybersecurity, which need more investments in them, noting the importance of working to minimize risks before they occur.<\/p>","protected":false},"excerpt":{"rendered":" Reading time: <\/span> 6<\/span> Minutes<\/span><\/span>\u0627\u062e\u062a\u062a\u0645\u062a \u062c\u0644\u0633\u0627\u062a \u0627\u0644\u064a\u0648\u0645 \u0627\u0644\u0623\u0648\u0644 \u0645\u0646 \u0627\u0644\u0646\u0633\u062e\u0629 \u0627\u0644\u062a\u0627\u0633\u0639\u0629 \u0645\u0646 \u0645\u0624\u062a\u0645\u0631 \u0645\u0628\u0627\u062f\u0631\u0629 \u0645\u0633\u062a\u0642\u0628\u0644 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u060c \u0641\u064a \u0645\u0631\u0643\u0632 \u0627\u0644\u0645\u0644\u0643 \u0639\u0628\u062f\u0627\u0644\u0639\u0632\u064a\u0632 \u0627\u0644\u062f\u0648\u0644\u064a \u0644\u0644\u0645\u0624\u062a\u0645\u0631\u0627\u062a \u0628\u0627\u0644\u0631\u064a\u0627\u0636\u060c \u062a\u062d\u062a \u0634\u0639\u0627\u0631 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\u0627\u0644\u0639\u0627\u0645\u0629\u060c \u0631\u0626\u064a\u0633 \u0645\u062c\u0644\u0633 \u0625\u062f\u0627\u0631\u0629 \u0623\u0631\u0627\u0645\u0643\u0648 \u0627\u0644\u0633\u0639\u0648\u062f\u064a\u0629\u060c \u0631\u0626\u064a\u0633 \u0645\u062c\u0644\u0633 \u0627\u0644\u0623\u0645\u0646\u0627\u0621 \u0644\u0645\u0624\u0633\u0633\u0629 … Read more<\/a><\/p>","protected":false},"author":27,"featured_media":70711,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"0","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":""},"categories":[120],"tags":[],"class_list":["post-92463","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capital-markets"],"acf":{"amlak_post_excerpt":"\u0645\u0624\u062a\u0645\u0631 \u0645\u0628\u0627\u062f\u0631\u0629 \u0645\u0633\u062a\u0642\u0628\u0644 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flexibility maximizes investment opportunities<\/span><\/h4>\n