GulfBase Live Support
Officials and business leaders including US Treasury Secretary Steve Mnuchin, IMF Managing Director Christine Lagarde and JPMorgan Chase CEO Jamie Dimon are set to attend an investment summit in Saudi Arabia next week.
The Future Investment Initiative (FII) is going ahead despite the “disappointing” withdrawal of some speakers and partners. It will be held in Riyadh from Oct. 23 to 25.
“Despite the disappointing withdrawal of some speakers and partners, we look forward to welcoming thousands of speakers, session managers and guests from around the world,” an FII spokesman said in a statement quoted by Asharq Al-Awsat.
An earlier statement gave an overview of the event, saying that “investing in transformation,” “technology as opportunity” and “advancing human potential” are among the FII’s broad themes.
Mohammed Khunaizi, a Shoura Council member, said that government and business leaders will map out a “collective vision for future” at the event. “The FII conference has emerged as the largest investment event of its kind in the Middle East, which offers opportunities for billions of dollars in business deals besides being an educative forum,” he said.
JPMorgan chief Dimon has been quoted in media reports as saying: “I am looking forward to attending the Future Investment Initiative in Riyadh to discuss innovation in technology and what it means to all of us.”
Sami A. Al-Rajhi, a Saudi business executive, said: “The FII seeks to further explore how investment will drive growth opportunities regionally and globally.
“The event will help to bring many business opportunities to the country in particular and to the Middle East in general, which will support job creation, innovation and unlock economic opportunities.”
Economic growth in the energy-rich Gulf will recover in 2018 from a contraction last year but remains vulnerable to volatility in crude oil prices, the IMF said on Tuesday.
The global lend
Saudi Arabia’s reform process is heading in the right direction, but the Kingdom needs to “scale up” in certain areas of the economy, according to the International Monetary Fund (IMF).
Qatar’s FIFA 2022--linked infrastructure investments and Kuwait’s implementation of five-year development plans will be the GCC growth triggers in 2018 and 2019. The ongoing preparations for Expo 202
The UAE economy is projected to grow at 2.9 per cent in 2018 and 3.7 per cent in 2019 against an estimated growth of 0.8 per cent, according to the latest regional economic outlook report from the In
The size of Japanese investments in Abu Dhabi reached approximately Dhs6.1 billion by end of 2017, while the number of trade licenses issued to Japanese investors in Abu Dhabi reached 32.
The Gulf Today