Riyadh, January 28, 2021: The Fourth Edition of the Future Investment Initiative (FII) opened in Riyadh today with panels addressing how to rethink the future of the global economy around the theme The Neo-Renaissanceâ amid the COVID-19 pandemic.
His Excellency Yasir Al-Rumayyan, FII Institute Chairman and Governor of the Public Investment Fund, welcomed the delegates at the open of the conference, saying: We are ready today for something new, not to return to the status quo. The FII Institute is working year round to support and deliver ideas that will change our world. The world has an unprecedented opportunity to embrace an era of innovation that will lead to a new chapter of humanity: the Neo-Renaissance.
The conference delivered messages of hope for the next decade as one to remember for the right reasons. Discussions reflected widespread shifts in global thinking and experts challenged topics of global growth, climate change, and revenue diversification. Speakers addressed how investment will inspire a new economic renaissance and how support for the energy sector can power a post-crisis recovery. They also discussed ways to re-imagine a new era of global sports and entertainment. In the opening panel, H.E. Al-Rumayyan joined Ray Dalio, Co-Chairman and CIO, Bridgewater Associates, Laurence D. Fink, Chairman and CEO, BlackRock, Thomas P. Gottstein, CEO, Credit Suisse Group, and David M. Solomon, Chairman and CEO, Goldman Sachs Group Inc. They discussed investment trends, economic growth as the world emerges from Covid-19, and impact investing. Discussing the opportunities available to investors, H.E. Al-Rumayyan said: We want to invest not just in financial markets but in new projects that have an impact on GDP growth and job creation.His Excellency, also noted: We have started the first green energy mega project in NEOM, and already have international investors with us.
Fink said: M&A is really driven by confidence and confidence shut down earlier in the year. As people were able to look through the tunnel of the pandemic to the other side, you saw activity pick up. Dalio said: We have to look at the creation of credit and money as distinct from the actual level of economic activity. As we head into the year, we're going to see a rebound in growth and in inflation. The Investor community focus from short-term gains to sustainable investment strategies and pledges from both investors and policy makers to collaborate in crucial areas including digitisation, green energy and global healthcare â earmarked as key pathways for post-crisis recovery.â¢ Another panel shared their insights on how the worlds largest energy producers are balancing sustainability and growth in the wake of the pandemic. H.R.H. Prince Abdulaziz bin Salman Al Saud, Minister of Energy, KSA, joined Marco Alver, CEO, Snam, Italy, Mukesh Ambani, Chairman, Reliance Industries Limited, India, Jean-Bernard Lvy, Chairman and CEO, Global, EDF Group, France, and Patrick Pouyann, Chairman and CEO, Total, France. â¢ Addressing the issues surrounding the increase in demand for green energy solutions, H.R.H. Prince Salman said: Saudi Arabia is a staunch believer in the Paris Agreement and we will do everything in our power to enable our companies to achieve their targets.
Pouyan said: We need to think to the future in terms of what customers want to have â reliable, affordable and clean energy. Alver said: You need a vision and you need execution capability. When the two combine, you can deliver. Other participants featured on the first day of the Fourth Edition of FII included Usain Bolt, eight-time Olympic Gold Medalist, Jamaica. On a panel about how global investment could drive the future of the sports industry, Bolt ended his segment with an inspiring message:
Remember your dream. Remember what you want. Remember why you started doing what you are doing. Focus on that, push on I know itâs going to be hard, but keep your mind on the prize and youâll be fine.âââ¢ Kirill Dmitriev, CEO, Russian Direct Investment Fund, Russia, Dr. Bernd Montag, CEO, Siemens Healthineers, Germany, David Schwimmer, CEO, London Stock Exchange, UK, Amin Nasser, President and CEO, Saudi Aramco, KSA also participated.â¢ The conference also highlighted how a future-focused vision will underpin COVID-19 recovery, with tangible momentum around technology as an enabler for better quality of life.¢ The FII Institute hosted the conference for the first time. The FII Institute is a new generation of not-for-profit global foundation that brings together global leaders, investors, tech pioneers and policy makers to enable concrete ideas that can solve today's most pressing societal issues, while creating long-term platforms to reshape the future sustainably and create a positive impact on humanity.
About the 4th Edition of FII
The two-day conference saw over 150 leaders, investors, tech pioneers and policy makers connect in a new extended reality conference format, hosted by the Future Investment Initiative Institute, in a multi hub event, with an in-person event in Riyadh and hubs in Paris, New York, Mumbai and Beijing.There will be keynote addresses, plenary sessions and also breakout discussions at all of the venues.Watch the live stream here: and request an invitation to participate in day two program.
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About the Future Investment Initiative
The Future Investment Initiative Institute is a new generation of global not-for-profit foundation that ensures the world's brightest ideas find their way to materialize, scale and create positive sustainable Impact on Humanity.âWith an ambitious vision to empower the brightest minds to shape a better future for ALL and with ALL, the FII Institute brings together leaders, investors and policy makers to collectively curate and enable concrete ideas that can solve today's most pressing societal issues, while creating long-term platforms to reshape the future of humanity.To learn more about the FII Institute, visit http://fii-institute.org .
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