Global Future Of Investment In The Spotlight As FII 2019 Opens​

October 30, 2019

HE Yasir Al-Rumayyan opened FII 2019 welcoming delegates from across the world ‘united in a spirit of collaboration’

Leading executives, including Larry Fink, Founder Chairman & CEO, BlackRock Inc, Stephen A. Schwarzman, Chairman, CEO, & Co-Founder, The Blackstone Group and Mukesh Ambani, Chairman & Managing Director, Reliance Industries Limited discussed the future of investment• Event will see nearly 300 speakers from more than 30 countries from around the world​​​​​​​​​​​​​​​​

​​​​​​​​​Riyadh, January 29, 2019: The 2019 edition of the Future Investment Initiative opened today in Riyadh with a series of debates around the future of investment involving leading global executives.

• The conference was opened by His Excellency Yasir O. Al-Rumayyan, Governor of the Public Investment Fund who welcomed delegates, saying that “like all great things FII began with a simple idea – to bring diverse leaders together to change the status quo.

• “In 2017 it was mainly the US, Europe and the Middle East Now you come from China, India, Americas, Japan, Russia, Africa. All united in a spirit of collaboration.

• “Until now FII has been an annual conference. Now it’s becoming an institute as well. It will be a place of continuous collaboration. A thought leadership platform and a global knowledge hub”.

• Among the issues discussed were how sovereign wealth funds are reshaping global investment, the challenges and opportunities of moving towards a more inclusive workforce and how investors can thrive in a multipolar world.

• Discussing the challenges faced by investors, Stephen A. Schwarzman, Chairman, CEO, & Co-founder, The Blackstone Group L.P. said: “We’re all dealing with more uncertainty than we were… Ten years ago you could make an investment and be reasonably sure that the basic model was going to remain intact. Now, whenever you make an investment you look at to see whether that company’s business model is resilient knowing its going to be challenged. You’re either going to be a disruptor or you’re going to be disrupted. Or maybe both at the same time.”

• Mukesh Ambani, Chairman & Managing Director, Reliance Industries Limited said: “The world is transiting… this is the first time that you have simultaneously four or five new technologies combined with digital that are really transforming the global economy. While it brings in uncertainty, it brings in tremendous opportunity.”

• Ray Dalio, Founder, Co-chairman and Co-Chief Investment Officer, Bridgewater Associates, noted that: “Technology, such as artificial intelligence, will increase productivity and it will also substancially increase the wealth gap.”• Discussing how businesses were increasingly driving innovation, Noel Quinn, Group Chief Executive, HSBC Holdings plc said: “I believe businesses feel more empowered and they are looking less and less towards global institutions, global politics to be the framework in which they operate… they’re designing their own solutions and they’re using technology to reach parts of the world they didn’t used to reach and open up new markets and open up new business models.”

• Among the other speakers featured on the first morning of FII 2019 were Larry Fink, Founder Chairman & CEO, BlackRock, Ray Dalio, Founder, Co-chairman and Co-Chief Investment Officer, Bridgewater Associates, 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, John Zhao, Founder, Chairman & CEO, Hony Capital, 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,

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• About the Future Investment Initiative 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 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 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 rn