• His Majesty King Abdullah II of Jordan and PM Narendra Modi address audience and tour the event
• Global business leaders and policy makers address key challenges in panel sessions on the future of investment
• 23 new foreign investment deals worth $15 billion were announced at the event
Riyadh, 29 October 2019: The Future Investment Initiative (FII), powered by the Public Investment Fund of Saudi Arabia (PIF) launched its third annual edition today, immersing thousands of delegates from all over the world in a rich agenda focused on the future of global investment. Opening the conference, HE Yasir Al-Rumayyan, Governor of the Public Investment Fund (PIF), said of FII: “Here we don’t see politicians just talking politics. Asset managers just talking about assets. Philanthropists just talking about society. Here we bring it all together – diversity, cooperation and friendship. Connecting capital with ideas, building relationships and doing deals.”
• Mirroring this, today’s conversations focused on investment for impact, competitiveness in the new economy and the challenges and opportunities of moving towards a more diverse and inclusive workforce.
• Artificial Intelligence and the complexities arising from within the global digital landscape were also in focus during plenary discussions, with the first day featuring on-stage discussions with Alain Bejjani, CEO, Majid Al Futtaim Holding, Jim Breyer, Founder & CEO, Breyer Capital, will.i.am, Founder & CEO I.AM.PLUS.
• In an evening panel titled “What’s Next for India?,” Prime Minister Narendra Modi shared insights on the strategies needed to turn demographic, environmental, and supply chain challenges into opportunities for equitable growth and prosperity. Prime Minister Modi noted that for the third year running, India is among the most improved countries in the World Bank’s Doing Business report.
• Talking about Saudi-Indian ties, Modi said: “We feel a sense of belonging in each other’s homes” and thanked the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al-Saud for his invitation to Saudi Arabia for FII.
• His Majesty King Abdullah II of Jordan gave a special address to the audience, stating that “here in Saudi Arabia you will find an eager youth cohort, ready to play their part and incentivized by a leadership which speaks their language.”
• At the event, the Saudi Arabian General Investment Authority (SAGIA) announced 23 new foreign investment deals worth $15 billion. Coordinated under Invest Saudi, these agreements reflect the enormous potential that Saudi Arabia offers to investors from across the Kingdom and around the world.
• Among the other speakers featured on the first day of FII 2019 were Rick Perry, Secretary of Energy USA, Jared Kushner, Senior Advisor to the White House USA, Larry Fink, Founder Chairman & CEO, BlackRock, Noel Quinn, Group Chief Executive, HSBC Holdings plc, Stephen A. Schwarzman, Chairman, CEO, & Co-founder, The Blackstone Group L.P., Tidjane Thiam, CEO, Credit Suisse Group AG, Jin Liqun, President & Chair, Asian Infrastructure Investment Bank, David R. Malpass, President, The World Bank, HE Khaldoon Khalifa Al Mubarak, CEO & Managing Director, Mubadala Investment Company, Mukesh Ambani, Chairman & Managing Director, Reliance Industries Limited and Michael Corbat, CEO, Citigroup.
• The speakers at FII 2019 include nearly 300 leading global decision makers, investors and experts from more than 30 countries. The speakers demonstrate FII’s global perspective, with significant numbers coming from North America (39%), Europe (20%), Asia (19%) and the Middle East (15%). More than 6,000 attendees have also registered their participation at the event.
• FII was created to drive conversation and collaboration around some of the most pressing topics currently facing the world today – including sustainability, technology and the future of society. FII is dedicated to providing a truly inclusive platform that facilitates free and creative dialogue between policymakers, business leaders, investors, innovators and world-leaders.
• For more information about the FII 2019 program and speakers, please visit the FII website
Day One in Quotes
• Frederic Oueda, CEO, Société Générale “We're one of the pioneers of the UN financing initiative, which means contributing effectively to the financing of the energy transition and having precise strategies relating to asset management and investment products.”
• Michael Froman, Vice Chairman, Mastercard “Doing good isn't just about feeling good, it's good for businesses and that's fundamental to our model.”
• will.i.am, Founder & CEO I.AM.PLUS “People think it’s impossible and no-one is willing to take the risk. I come from nothing so I know what living with nothing feels like. I come from a ghetto and I have a company that created an AI that’s being used by Deutsche Telekom for customer service.”
• Jacques Attali, President, Positive Planet Foundation “What is important today is to focus on investing in infrastructure with a social impact. This is a pre-requisite for a positive future.”
• Prime Minister Narendra Modi, India “Clear rules and fair systems are vital to the growth of the private sector.”
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• About the Future Investment Initiative Institute
Convened annually, the Future Investment Initiative (FII) is an international platform for expert-led debate between global leaders, investors and innovators with the power to shape the future of global investment. It is focused on utilizing investment to drive growth opportunities, enable innovation and disruptive technologies, and address global challenges.
• The third edition of FII will continue building active, global networks of influential decision makers to explore the emerging industries that will shape the global economy and investment landscape over the coming decades.
• FII has proven to be a substantial international platform for expert-led debate between investors, innovators and governments as well as economic leaders since it was launched in 2017. Building on the theme of ‘A Blueprint for the 22nd Century’, the second edition of FII in 2018 saw more than USD60 billion (SAR225 billion) worth of agreements announced over the three days of the event. These agreements included major investments across a range of sectors, including energy, housing, health and ICT. FII 2018 attracted more than 3,500 participants from 88 countries, including representation from eight heads of state and more than 20 international ministers. In addition, more than 2.6 million viewers worldwide followed FII 2018 through the event’s livestream.
• FII is powered by the Public Investment Fund, the Kingdom’s main investment arm and one of the world’s leading sovereign wealth funds.
• About PIF
About PIF The Public Investment Fund (PIF) is one of the largest and most impactful sovereign wealth funds in the world, enabling the creation of new sectors and opportunities that will shape the future global economy, while driving the economic transformation of Saudi Arabia. PIF is building a world-class, diversified portfolio through investments in attractive, long-term opportunities across sectors and asset classes at both the domestic and international level. Working alongside global strategic partners and renowned investment managers, PIF acts as the Kingdom’s main investment arm to deliver a strategy focused on achieving attractive financial returns and long-term value for the Kingdom of Saudi Arabia, in line with Vision 2030. More information can be found at www.pif.gov.sa