On 29 October 2024, the Saudi capital will host the 8th edition of the Future Investment Initiative (FII) under the theme ‘Infinite Horizons, Investing Today, Shaping the Future’. Bringing together more than 30,000 global participants, this three-day summit addresses critical issues such as artificial intelligence, robotics, health and education. Preceded by a pre-summit focused on Africa, this strategic meeting aims to stimulate solutions to global challenges.
The 8th edition of the Future Investment Initiative (FII) opened on 29 October 2024 in Riyadh, the Capital of Saudi Arabia, under the theme ‘Infinite Horizons: investing today, shaping the future’. This event brings together over 30 000 participants from around the globe to engage in discussions on pressing global issues related to artificial intelligence (AI), robotics, education, health, and sustainable development. Over the next three days, international leaders will share their insights to tackle the challenges of the coming millennium.
But boldness demands courage. It requires us to move beyond our comfort zone and into the unknown, embracing the uncertainty that comes with the progress. We have the power right here in this room to redefine the narrative to turn impossible into possible. So let us be the generation that not only talks about sustainable planet, equitable societies, and inclusive economies, but create that.
Richard Attias, CEO FII institute
In his inaugural speech at the Future Investment Initiative (FII), Yasir Al-Rumayyan announced that the Saudi Public Investment Fund (PIF) intends to reduce the proportion of its foreign assets from 30% to between 18% and 20%, with total assets exceeding $900 billion. Since its establishment, the PIF has secured deals valued at over $125 billion, reinforcing Saudi Arabia’s status as the most dynamic economy within the G20. Al-Rumayyan also highlighted that artificial intelligence has the potential to contribute an additional $20 trillion to the global economy by 2030, driving significant transformation across key sectors.
Saudi Arabia stands as a superconductor with its unique resources and strategic geographic location, enabling it to drive investments in critical areas like energy, infrastructure and technology. I alone could add nearly $20 trillion to the global economy by the year 2030.
Yasir Al-Rumayyan, Governor of the Public Investment Fund – Saudi Arabia
On October 28, the Future Investment Initiative (FII) commenced with a pre-summit focused on Africa, titled the « New Africa Summit. » This gathering convened African leaders and business executives, including Senegalese President Bassirou Diomaye and Nigerian entrepreneur Tony Elumelu. According to the African Development Bank, the continent’s economic growth is projected to reach 3.7% by 2024. Africa’s engagement in FII 8 sets the stage for new agreements in vital sectors, enhancing the continent’s development prospects.