Saudi Arabia’s Future Investment Initiative Nine Seals Billions In Deals

The ninth edition of the Future Investment Initiative (FII), held in Riyadh under the theme “The Key to Prosperity,” has kicked off at the King Abdulaziz International Conference Center, featuring broad participation from global economic, political, and investment leaders. The conference, running until October 30, addresses crucial global topics, including rapid technological shifts, the impact of Artificial Intelligence (AI) and robotics on productivity and wealth distribution, geopolitical challenges, resource scarcity, and demographic changes redefining the future workforce. The Forum underscores Saudi Arabia’s strategic position as a global hub for capital and innovation.

FII Platform Facilitates Over $250 Billion in Transactions

In his opening remarks, Yasir Al-Rumayyan, Governor of the Public Investment Fund (PIF) and Chairman of the FII Institute, highlighted that the initiative has become the world’s largest platform uniting leaders and investors to drive tangible economic impact. Al-Rumayyan revealed that over $250 billion in deals have been brokered through the FII platform since its inception less than a decade ago. He noted that the current edition aims to propel the initiative to a new level of global influence, stressing that accelerated economic and technological transitions demand new models of collaboration between governments and the private sector. He also emphasized the need for equitable management of challenges like inequality and AI to ensure inclusive development.

Vision 2030 Sets A Global Benchmark For Economic Shift

Al-Rumayyan lauded the Kingdom’s Vision 2030, calling it a “new global standard for economic transformation.” He noted that Foreign Direct Investment (FDI) into Saudi Arabia has increased by 3.4% to reach $31.7 billion, cementing the Kingdom’s status as a major global destination, further bolstered by megaprojects and its readiness to host Expo 2030 and the 2034 FIFA World Cup. He concluded that true wealth is measured “not by numbers but by the prosperity of people,” urging participants to forge global partnerships that drive sustainable growth.

Investment Minister Highlights Non-Oil Sector Growth

Minister of Investment, Khalid Al-Falih, provided a detailed look at the structural shift in the Kingdom’s economy. He revealed that 90% of current FDI inflows are directed toward non-oil sectors, such as advanced manufacturing, tourism, and entrepreneurship, with oil-related projects accounting for only 10%. Al-Falih pointed out that FDI has quadrupled since the launch of Vision 2030, even as global FDI saw a 10% decrease. Furthermore, he highlighted that startup investments have surpassed $1 billion, with 60% originating from Middle East investors. This diversification is also evident in state finances, with 40% of the Saudi budget now funded by non-oil revenues.

Aramco’s $2 Billion Tech Surge and Strategic Focus

Amin Nasser, CEO of Saudi Aramco, affirmed the company’s commitment to technological investment and digitalization, which has generated approximately $6 billion in added value over two years. Nasser announced that Aramco plans to increase its gas operations by 60% within five years and inject an additional $2 billion into its technological arm, Aramco Digital. This investment will be coupled with enhanced collaboration with partners like Humain to develop advanced AI solutions and analytics.

Global Confidence and Future Investment Trends

Lubna Olayan, Chairperson of the Saudi British Bank (SAB), noted the significant growth in the Kingdom’s real estate sector and the rising global demand for renewable energy, reflecting Saudi Arabia’s commitment to sustainable energy transition. Meanwhile, Larry Fink, CEO of BlackRock, emphasized that his company’s deal in the Al-Jafurah field “attracted widespread global attention,” signaling the immense economic transformation and growing global investment appeal of Saudi Arabia. Fink also encouraged central banks to seriously prepare for the transition to digital currencies, predicting that ETFs will evolve into digital wallets in the coming years, while cautioning that markets are not fully ready for this shift yet.

About The Future Investment Initiative (FII)

The Future Investment Initiative (FII) is an annual international investment platform hosted in Riyadh, Saudi Arabia, by the FII Institute. Since its inception, it has served as a critical global forum for policymakers, business leaders, innovators, and investors to discuss future economic trends, address global challenges, and broker major deals. The FII Institute is a non-profit foundation focused on making an impact on humanity, utilizing global data and connecting leaders to transform ideas into real-world solutions.

Source: الرياض تشهد توقيع صفقات بمئات المليارات في منتدى مبادرة مستقبل الاستثمار