Riyadh, 31 October 2019: The 2019 edition of the Future Investment Initiative (FII) has launched into its last day in Riyadh, with industry leaders and policy makers discussing the transformative and modernizing factors that are building a competitive business environment in emerging economies.
• The conference showcased innovative technology solutions with displays by tech partners Huawei, Hive, Magic Leap, SoftBank Robotics, Virgin Hyperloop One, Unisound, SenseTime, Root AI, Gravity Industries, amongst others, familiarising audiences with quantum computing, robotics and Artificial Intelligence.
• Speaking to the audience, Omar Khan, Chief Product Officer, Magic Leap noted that ” we split our time between two worlds – the digital word intermediated by the screens that dominate our lives, and the physical world that we fight to remain present within”.
Looking at how creative business initiatives can shape the most game-changing new investment opportunities, industry leaders shared their insights on e-commerce and digital transformation, in a panel that featured Gaurav Gupta, Founder & COO, Zomato Media, India, Sriharsha Majety, Co-founder & CEO, Swiggy, India, Mudassir Sheikha, Co-founder & CEO, Careem, UAE, Kunal Bahl, Co-founder & CEO, Snapdeal, India, Faraz Khalid, CEO, Noon, UAE.
A plenary discussion examining how the Middle East rose to become an international investment powerhouse involved HE Mohammed Al-Jadaan, Minister of Finance, Saudi Arabia, HE Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, Bahrain, HE Dr. Naif Falah Al-Hajraf, Minister of Finance, Kuwait. All three countries had recently been named among the fastest reforming countries in the World Bank’s Doing Business report and HE Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, Bahrain said “the multiplier is much larger when you do a reform of a sector than when you do a project led by the government”.
A panel asking “What’s Next for Asia?,” looking into how the newly prosperous supercontinent will sustain and leverage its economic hegemony, featured HE Dr. Majid Al Kassabi, KSA Minister of Commerce and Investment, Raamdeo Agrawal, Chairman & Co-founder, Motilal Oswal Financial Services Ltd., India, Ju Zhao, Chief Investment Officer, China Merchant Bank International, China.
Speaking about the key drivers of growth in India, Raamdeo Agrawal, Chairman & Co-founder, Motilal Oswal Financial Services Ltd., told investors that they should “first of all, see how fast government withdraws from key sectors, and secondly how much those sectors are opening up – how much foreign ownership is allowed.”
In a panel titled “A New Course: What’s Next for the Game of Golf”, legends of the game and leading business executives discussed the future of golf and its role in leisure, tourism, sport, and urban development, in a conversation involving Majed Al-Sorour, CEO, Saudi Golf Federation, KSA, Ernie Els, Four-Time Major Champion and World Golf Hall of Famer, South Africa, Keith Pelley, CEO, European Tour, UK, Camilla Lenarth, Professional Golfer, Ladies European Tour, Sweden.
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 www.futureinvesmentinitiative.com
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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