Riyadh, 4 November – In a demonstration of international collaboration, the 8th annual edition of the Future Investment Initiative (FII8) Conference hosted in Riyadh, Saudi Arabia, the 29-31 of October, has successfully attained $70+ billion value in investment agreements. This landmark achievement marks a pivotal moment in the FII Conference’s history, and attests to the noteworthy relevance of the meeting in the international arena, as it represents more than half of the total $128 billion generated over the last seven years, combined.
FII Institute, the organizer of the initiative, is a data-driven “do-tank” that catalyzes solutions for today’s most pressing challenges. The agreements, which tackle different sectors across a variety of geographic regions, signify a triumph in financial terms and celebrate collaborative efforts on global strategic investments to drive sustainable economic growth.
The Saudi Public Investment Fund (PIF), one of the world’s largest sovereign wealth funds, has signed agreements that are set to reshape the investment landscape. In a significant move during FII8, PIF has partnered with Google Cloud to establish a global artificial intelligence (AI) hub, aiming to empower businesses within the region with cutting-edge technology. In addition, PIF signed a series of agreements with prominent international financial institutions to enhance investment capabilities, such as the Canadian Brookfield Asset Management, the American State Street, and Japanese leading financial institutions Mizuho Financial Group Inc, Sumitomo Mitsui Financial Group, MUFG Bank, Japan Bank for International Cooperation (JBIC), and Nippon Export and Investment Insurance (NEXI).
In parallel, the Saudi Ministry of Investment (MISA) announced the signing of investment agreements aimed at enhancing collaboration among strategic markets. In partnership with Saudi investment firm Beta Lab, Telkom Indonesia, and Hong Kong Science & Technology Parks Corporation (HKSTP), the Beta Lab Growth Fund of $300Mn was launched at the conference to accelerate startup growth and cross-border innovation between the MENA region and Southeast Asia. To introduce new investment solutions in multiple sectors, MISA also announced an agreement between Saudi Hassana Investment Company and the State Oil Fund of the Republic of Azerbaijan (SOFAZ), the country’s sovereign fund.
Furthermore, an agreement between MISA and the International Finance Corporation (IFC), a member of the World Bank Group, was signed to strengthen cooperation in promoting investments both domestically and internationally. This long-term partnership will provide advice to the private sector and broaden investment opportunities aimed at enhancing economic growth in the region.
On the financial front, the Japanese SBI Holdings and the Saudi BIM Ventures announced the establishment of a joint venture, BIM Capital, to foster growth in the financial and investment sectors across Saudi Arabia and the broader Middle East. Moreover, SBI Holdings celebrated with the National Technology Group (NTG) the launch of an ETF focused on the Saudi Stock Exchange (Tadawul), which has been listed on the Tokyo Stock Exchange, introducing Saudi equities to Japanese investors, the first fund of its type. Joining these efforts to offer foreign investors exposure to the Saudi market, the American asset manager Franklin Templeton presented the FTIF Saudi Arabia Bond Fund and Franklin FTSE Saudi Arabia UCITS ETF, which offers global investors unique opportunities to participate in Saudi Arabia’s economic growth through diversified fixed-income and equity investments.
Likewise, the Saudi bank SAB Invest, a partner of HSBC Group, and the Hong Kong-based bank Hang Seng Investment Management (“HSVM”) also announced at FII8 the launch of their ETF, the SAB Invest Hang Seng Hong Kong ETF, an open-ended investment fund designed to track the Hang Seng Index, Hong Kong’s benchmark equity market index. Another significant financial alliance was formed by NBK Wealth, part of the National Bank of Kuwait Group, and the American bank, J.P. Morgan Asset Management, which announced a strategic partnership that combines regional market leadership with global expertise with the aim of enhancing investment opportunities and delivering innovative solutions tailored to meet the diverse needs of clients.
ACWA Power, a Saudi company in water desalination, and energy transition, announced collaborations with important stakeholders in different regions: an R&D center under the Lujiazui Administration Bureau in China; projects in Uzbekistan for solar and wind renewable energy respectively financed with the support of IFC and the European Bank for Reconstruction and Development (EBRD), German Investment Corporation (DEG), and the French development finance institution Proparco; and a wind farm in the Republic of Azerbaijan, whose lenders include EBRD and the OPEC Fund for International Development.
In the sector of transportation, TASARU Mobility Investments signed a strategic investment in the German company Blacklane, enhancing premium global chauffeur services with plans to introduce a fleet of electric vehicles, while establishing a modern automotive manufacturing cluster. KAFD Development & Management Company, in partnership with Hassan Allam Construction Saudi, and Chinese CRRC, one of the world’s largest rolling stock manufacturers, signed an agreement for the development of the KAFD Monorail Project for King Abdullah Financial District in Riyadh. And in terms of air transportation, Airbus and Riyadh Air, announced an agreement to purchase 60 Airbus A321 neo-single-aisle aircraft, the most sustainable and efficient in the industry.
In the field of logistics, The Saudi-China-based EWPartners announced an investment agreement with Chinese Leshines, Lenovo’s supply chain solutions platform. This strategic investment accelerates the localization of Lenovo’s supply chain in Saudi Arabia aligning with Lenovo’s global strategy, strengthening the Kingdom’s position as a vital player in global trade networks and supply chain operations. In addition, the Bahraini bank GFH signed two major deals for Saudi’s logistics development, one with American real estate developer Panattoni for the creation of 500,000 square meters of logistics facilities, and one with Gulf Warehousing Company (GWC) to expand Grade ‘A’ logistics infrastructure across key trade hubs.
Finally, Saudi Halal Products Development Company (HPDC) and Brazilian BRF Global, one of the largest food companies in the world, announced a substantial investment in Addoha Poultry Company to expand the poultry production capacity and solidify Saudi Arabia’s position as a leading global halal hub, driving sustainable growth and contributing to the development of a thriving halal ecosystem.
Richard Attias, CEO of FII Institute, highlighted the significance of these agreements, underscoring the power of international partnerships to drive change, “The exponential growth of announcements witnessed at FII8 is a reflection of our shared determination to construct a brighter future for all across a wide range of sectors. This success is a clear indication of the confidence our global partners have in our vision. As we move forward, FII Institute remains committed to leveraging this momentum to maximize positive impact and foster transformative opportunities worldwide.”
For more information, contact media@fii-institute.org.
