Future Investment Initiative Conference Gathers Global Decision-Makers in Riyadh

One of the dialogue sessions of the Future Investment Initiative in its previous edition (Asharq Al-Awsat)
One of the dialogue sessions of the Future Investment Initiative in its previous edition (Asharq Al-Awsat)
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Future Investment Initiative Conference Gathers Global Decision-Makers in Riyadh

One of the dialogue sessions of the Future Investment Initiative in its previous edition (Asharq Al-Awsat)
One of the dialogue sessions of the Future Investment Initiative in its previous edition (Asharq Al-Awsat)

Under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, Riyadh is set to launch the eighth edition of the Future Investment Initiative (FII) conference on Monday.
This year’s event carries the theme, “Infinite Horizons... Investing Today, Shaping Tomorrow” and will feature prominent figures in finance, investment, and technology.
Through its annual conference, often called the “Davos of the Desert,” the Future Investment Initiative aims to foster discussions on how investment can drive a prosperous and sustainable future, expanding the possibilities for humanity.
The conference is expected to attract over 7,000 guests and 500 speakers, covering a wide range of current topics across more than 200 sessions. Key areas of focus include economic stability, equitable development, climate change, artificial intelligence, innovation, health, and geopolitical issues.
Among those looking to leverage projects aligned with Saudi Arabia’s Vision 2030 are David Solomon of Goldman Sachs, Jane Fraser of Citigroup, and Larry Fink of BlackRock, which recently agreed to establish a multi-asset investment platform in Riyadh, backed by a $5 billion investment from Saudi Arabia’s sovereign wealth fund. This year, the conference will also host the New Africa Summit, featuring speakers from Africa’s mining and banking sectors.
Reflecting Saudi Arabia’s emphasis on technology and artificial intelligence, industry leaders in these fields will participate in the event. Notably, Alphabet President Ruth Porat, TikTok CEO Shou Zi Chew, and tech entrepreneur Benjamin Horowitz, co-founder of the venture capital firm Andreessen Horowitz, are scheduled to speak for the first time.
According to Richard Attias, CEO of the Future Investment Initiative, executives worldwide are expected to announce deals exceeding $28 billion. Some of these initiatives will focus on artificial intelligence, including a new potential fund with Andreessen Horowitz that could grow to $40 billion, as reported by Bloomberg.
The Kingdom is also expected to announce a new company that will invest at least $10 billion in making Saudi Arabia the world’s largest producer of hydrogen—a low-carbon fuel critical for the global transition away from fossil fuels. Key speakers from Asia will include Hong Kong’s Financial Secretary Paul Chan and Belt and Road Commissioner Nicholas Ho.
On the eve of the event, Swiss entrepreneur and FII participant Stephan Knuser told Asharq Al-Awsat that the conference will provide significant business insights for both local and international communities, anticipating that new partnerships will form between Swiss and Saudi companies in energy-efficient technologies and food security.
Neil Bush, Chairman of Sky Towers, remarked: “We view FII as not only a driver for attracting capital but also for bringing in technologies that accelerate Saudi Arabia’s goals.” According to Bush, the FII topics align with needs like business registration processes, free trade zone policies, and strategies for developing industrial complexes, which will help accelerate Vision 2030 goals, including carbon reduction.

 



Saudi Arabia Looks to Cambodia to Diversify Rice Imports

A night view of the Saudi capital Riyadh. (SPA)
A night view of the Saudi capital Riyadh. (SPA)
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Saudi Arabia Looks to Cambodia to Diversify Rice Imports

A night view of the Saudi capital Riyadh. (SPA)
A night view of the Saudi capital Riyadh. (SPA)

In a strategic move to diversify its food import sources and stabilize domestic markets, Saudi Arabia is encouraging the private sector to begin importing rice from Cambodia.

The initiative, Asharq Al-Awsat has learned, is part of broader government efforts to expand the availability of high-quality rice alongside existing imports from countries like India, Pakistan, the United States, Egypt, and others.

Rice is a staple food in Saudi households and across the Gulf region. Rising demand, coupled with global challenges such as high shipping costs and climate-related disruptions, has led to fluctuations in supply and pricing. In response, the Kingdom is now looking to Phnom Penh to ensure consistent supply and greater price stability of this essential commodity.

Cambodia has built a strong reputation for producing premium-grade rice. It has been named the producer of the “World’s Best Rice” six times, most recently at the International Rice Conference held in Manila.

The country exports around 63 percent of its rice production, which totals nearly 12 million tons annually. Agriculture remains a top priority for the Cambodian government, which is actively working to increase production and expand access to global markets.

Following the visit by Cambodia’s Minister of Commerce to Riyadh in February, Saudi Arabia’s General Authority for Foreign Trade has begun coordinating with the private sector to facilitate Cambodian rice imports. Discussions include inviting Saudi companies to visit Cambodian farms to explore supply chain opportunities and assess product quality.

Currently, per capita rice consumption in Saudi Arabia stands at approximately 45.8 kilograms annually and is projected to rise to 50 kilograms in the coming years. Rice plays a vital role in the national diet and is central to many traditional dishes.

Saudi Arabia’s broader food security strategy includes the establishment of a dedicated General Food Security Authority and the rollout of national strategies targeting agriculture, water, and environmental sustainability.

Over the past five years, agricultural investment financing has grown by 1,000 percent, and loans to the sector reached nearly 7 billion riyals ($1.8 billion) in 2022.