PIF announces the future investment initiative 2018May 8, 2018, 11:07:23 AM GMT+3 Sustainable Development News Government Agencies News Economics News
Under the Patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, and the leadership of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Vice President of the Council of Ministers, Minister of Defense, Chairman of the Council of Economic and Development Affairs and Chairman of the Public Investment Fund (PIF), PIF has announced the second Future Investment Initiative (FII), which will take place from October 23rd to 25th in Riyadh, the Kingdom of Saudi Arabia.
FII 2018 will bring together renowned visionaries with the power to shape the future of global investment to discuss three broad themes:
· Investing in Transformation - focusing on how the world’s top investors are creating new cities and transforming economies;
· Technology as Opportunity - considering how technologies are enabling new economic opportunities through personalisation and industrialisation at scale; and
· Advancing Human Potential - looking at a world where humans and machines work together to create safer, more productive and happier lives.
FII was launched as a substantial international platform for expert-led debate between investors, innovators and governments as well as economic leaders. The inaugural event in 2017 saw over 3,800 participants from more than 90 countries, join in the discussions and debates to explore future developments in the world economy, including investment trends around areas such as energy, infrastructure, Artificial Intelligence and robotics as well as new growth areas.
The second edition aims to continue building active, global networks of influential actors to further explore the emerging industries that will shape the global economy and investment environment over the coming decades.
H.E. Yasir Al Rumayyan, Managing Director of PIF, commented: “After the success of the inaugural event, we are pleased to announce the 2018 edition of the Future Investment Initiative. The Public Investment Fund is developing into one of the world’s leading and most impactful sovereign wealth funds, and we look forward continuing to build strong strategic partnerships while also showcasing the opportunity for private sector participation as the Kingdom of Saudi Arabia’s economy continues to expand and diversify.”
Last year’s FII saw the launch of the Public Investment Fund Program (2018-2020), one of twelve Vision 2030 Vision Realization Programs, which will act as a roadmap to help drive the economic diversification in the Kingdom and transform the Kingdom of Saudi Arabia into a global investment powerhouse. In addition, an expo featuring cutting edge technology also showcased the Saudi Arabia’s future Giga Projects, a key element of the Kingdom’s Vision 2030 economic program. The expo opened following the launch of NEOM by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Vice President of the Council of Ministers, Minister of Defense, Chairman of the Council of Economic and Development Affairs and Chairman of the Public Investment Fund (PIF).
Launched to promote global collaboration, FII has already fostered new partnerships that will help transform industries in the Kingdom of Saudi Arabia and globally. The 2017 edition saw future initiatives announced with Blackstone, SoftBank, Virgin Galactic, The Spaceship Company and Virgin Orbit.
The Future Investment Initiative is being organized in the context of the Kingdom of Saudi Arabia’s Vision 2030, the ambitious blueprint that is already charting the path for the Kingdom to harness its strong investment capabilities and use its unique strategic location to become a global investment hub connecting three continents.
Further updates on the 2018 program, partners and speakers will be announced over the coming months.