FII Institute PRIORITY Summit to Be Held in US on February 22-23

FII Institute PRIORITY Summit to Be Held in US on February 22-23
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FII Institute PRIORITY Summit to Be Held in US on February 22-23

FII Institute PRIORITY Summit to Be Held in US on February 22-23

Leaders from across the world, and across the political spectrum will gather in Miami for the Future Investment Initiative PRIORITY Summit on February 22 and 23.

The event will bring together 1,000 investors, business leaders and policy experts at a time of heightened global tensions.

With the world experiencing an array of immediate and long-term risks, including geopolitical tension, contested elections, polarized discourse, climate concerns, AI threats and economic headwinds, the FII Institute is convening an international summit to encourage the mobilization of investment as a force for good.

The summit, held under the theme “On the Edge of a New Frontier”, will address the changing economic, social and political realities, and the issues that are of concern to citizens the world over. Discussions will include the digitization of every economic sector, investor outlook, climate tech, the new AI ecosystem, innovations for better urban environments, and the forthcoming US elections.

Over one hundred luminaries from finance, business and government are due to speak, including Michael Dell, Founder, Chairman, & CEO, Dell Technologies; Larry Summers, President Emeritus, Harvard University & Board Member at OpenAI; Jennifer Johnson, President & CEO, Franklin Templeton; Pamela Liebman, President and CEO, The Corcoran Group; Julie Sweet, Chair and CEO, Accenture; Tom Vice, CEO, Sierra Space; Magda Wierzycka, Sygnia Ltd; Josh Harris, Founder, 26North and Managing Partner, Washington Commanders; Dr Chloé Bakalar, Chief Ethicist, Responsible AI, Meta; Caroline Yap, Managing Director, Global AI Business, Google; and Todd Boehly, Co-Founder, Chairman & CEO, Eldridge Industries

The Future Investment Initiative’s (FII) Founding Partner, the Public Investment Fund of Saudi Arabia, will be joined by 25 Strategic Partners, including international companies Pepsico, Franklin Templeton, HSBC, Softbank Vision Fund, Standard Chartered, Straight Street, and GFH Financial Group. Strategic Partners support the ongoing work of the institute.

The FII Institute conducts ongoing research to identify the issues that matter to citizens worldwide. This year’s polling sampled 50,000 people from 23 countries to identify humanity’s priorities. The findings are used to shape FII’s policy agenda and program of summits.

This year’s research revealed a dramatic global drop of 20% in satisfaction levels, and discontent across a range of issues, including cost of living, loneliness, technology, and climate concerns. Meanwhile, 62% of respondents in the United States say their government is not doing enough to regulate the impact of emerging technology on society.

FII PRIORITY Summit Miami continues conversations held in Hong Kong and Riyadh in fall 2023. It is part of an ongoing global program of summits held next in forward looking global cities throughout the year, with summits coming up in Rio de Janeiro and Nairobi in the spring and summer.

Miami has been chosen for its vibrancy, diversity, economic significance, and its role as a vital link between continents, economies, and societies.

Richard Attias, CEO of the Future Investment Initiative Institute said: “This year marks an historic moment with nearly half of the world’s population participating in national elections in 2024, underscoring the significance of citizen priorities and leaders’ effective responses to them.”

“The choices made by leaders in government and investment during this period will have far-reaching consequences for global peace, prosperity, and stability and I am delighted that over 1,000 leaders will spend time in Miami deliberating on those issues that matter to the world,” he added.



Logistics Zones Spread in Saudi Arabia to Consolidate World Trade

Containers are seen at King Abdul Aziz Port, also known as Dammam Port. SPA
Containers are seen at King Abdul Aziz Port, also known as Dammam Port. SPA
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Logistics Zones Spread in Saudi Arabia to Consolidate World Trade

Containers are seen at King Abdul Aziz Port, also known as Dammam Port. SPA
Containers are seen at King Abdul Aziz Port, also known as Dammam Port. SPA

Data has shown a spread of logistics areas in Saudi Arabia, bringing the total number of existing centers to 22 in the past year, a 267% increase compared to the base year 2021, with a total area exceeding 34 million square meters.

This year, several international companies announced the opening of new logistics areas, the latest of which was the opening of Maersk, the Danish international container shipping company, which represents the largest logistics investment in Jeddah port in Western Saudi Arabia valued at 1.3 billion riyals (350 million dollars).

Saudi Arabia also continues its efforts to enhance its transport and logistics services system, planning to reach 59 logistics areas by 2030, to strengthen competitiveness, and support trade and industrial movement.

According to the Warehousing and Logistics Statistics Publication 2023 of the General Authority for Statistics, the Eastern Region had the highest number of logistics centers, with 6 centers covering an area of 6.3 million square meters, followed by Riyadh Region and Makkah Region, each with 5 logistics centers, with a total area of 20 million square meters in Makkah and 4.9 million square meters in Riyadh.

The publication said data indicated that the total quantity of cargo imported and exported via maritime transport reached 308.7 million tons, and the quantity of external cargo via land transport reached 24.9 million tons. The quantity of cargo transported by railway was 14.3 million tons, while the quantity of cargo via air transport, both imported and exported, accounted for 918 thousand tons.

Data also revealed that the total number of warehouses in the Kingdom was 12,451, covering an area of 22.8 million square meters. Riyadh Region had the highest number of warehouses and area, with 6,584 warehouses covering an area of 10.6 million square meters, followed by Makkah Region with 2,224 warehouses, covering an area of 6.5 million square meters.

The number of general warehouse licenses was the highest, totaling 6,923 licenses, which constituted 55.6% of the total licenses. This was followed by humidity-controlled warehouses with 2,115 licenses, accounting for 17% of the total licenses, and refrigerated warehouses with 2,006 licenses, making up 16% of the total licenses.

In 2023, the number of valid licenses for good transport (activities) reached 7,963 licenses, where Riyadh Region had the highest number of active licenses at 1,996.

According to the data for 2023, the total number of sales outlets of postal service exceeded 1,300. The number of cargos reached over 140 million, with an average delivery time of 2.45 days.

As for the total number of customs clearance activity licenses valid for 2023, they amounted to 170 licenses. Customs authority licenses were the highest in the number of licenses valid for 2023, with 57 licenses, followed by air ports licenses with 47 licenses.

Saudi Crown Prince Mohammed bin Salman bin Abdulaziz, who is also Chairman of the Supreme Committee for Transport and Logistics, launched in 2023 the Master Plan for Logistics Centers, which aims to develop the infrastructure of the Kingdom’s logistical sector, diversify the local economy, and enhance Saudi Arabia's status as a leading investment destination and a global logistical hub.