‘Davos in the Desert’ Tackles Int’l Economic Challenges, Future Aspirations

The Future Investment Initiative kicks off on Tuesday. (SPA)
The Future Investment Initiative kicks off on Tuesday. (SPA)
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‘Davos in the Desert’ Tackles Int’l Economic Challenges, Future Aspirations

The Future Investment Initiative kicks off on Tuesday. (SPA)
The Future Investment Initiative kicks off on Tuesday. (SPA)

The three-day Future Investment Initiative (FII), nicknamed "Davos in the desert", will kick off in Saudi Arabia on Tuesday, tackling strategic and vital questions about the regional and global economic and investment environment.

The event brings together global policymakers and tycoons from across the globe at 47 seminars and workshops and three summits. Dozens of global companies, including 25 American firms and investment banks, have confirmed their participation.

FII will seek to answer numerous questions, including how the current ambitious economy can shape the economy of the next decade.

Asharq Al-Awsat obtained a copy of the FII agenda. It addresses female economy and whether current developments will help further incorporate women in global economics. It will highlight Japan and China as examples.

Financial challenges will also be addressed, with attention directed at the situation in Europe. European governments will be asked how they are seeking to push innovation in the financial markets. On the international level, executives will tackle ways to meet the United States’ sustainable development goals.

FII will also shine the spotlight on the role India, Brazil and Africa can play in the global economy.

Energy files will take center stage at the event. Discussions will address new energy innovations.



Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)

Saudi Arabia has made history by uniting the 193 member states of the World Intellectual Property Organization (WIPO) to adopt the Riyadh Treaty on Design Law. This landmark achievement, realized after two decades of deliberation, underscores the Kingdom’s leadership in enhancing the global intellectual property system.

The announcement came at the conclusion of the Riyadh Diplomatic Conference on the Design Law Treaty, a rare event for WIPO, which has not held a diplomatic conference outside Geneva for more than a decade. It was also the first such event hosted in Saudi Arabia and the Middle East, representing the final stage of negotiations to establish an agreement aimed at simplifying and standardizing design protection procedures across member states.

Over the past two weeks, intensive discussions and negotiations among member states culminated in the adoption of the Riyadh Treaty, which commits signatory nations to a unified set of requirements for registering designs, ensuring consistent and streamlined procedures worldwide. The agreement is expected to have a significant positive impact on designers, enabling them to protect their creations more effectively and uniformly across international markets.

At a press conference held on Friday to mark the event’s conclusion, CEO of the Saudi Authority for Intellectual Property Abdulaziz Al-Suwailem highlighted the economic potential of the new protocol.

Responding to a question from Asharq Al-Awsat, Al-Suwailem noted the substantial contributions of young Saudi men and women in creative design. He explained that the agreement will enable their designs to be formally protected, allowing them to enter markets as valuable, tradable assets.

He also emphasized the symbolic importance of naming the convention the Riyadh Treaty, stating that it reflects Saudi Arabia’s growing influence as a bridge between cultures and a global center for innovative initiatives.

The treaty lays critical legal foundations to support designers and drive innovation worldwide, aligning with Saudi Arabia’s vision of promoting international collaboration in the creative industries and underscoring its leadership in building a sustainable future for innovators.

The agreement also advances global efforts to enhance creativity, protect intellectual property, and stimulate innovation on a broader scale.

This achievement further strengthens Saudi Arabia’s position as a global hub for groundbreaking initiatives, demonstrating its commitment to nurturing creativity, safeguarding designers’ rights, and driving the development of creative industries on an international scale.

The Riyadh Diplomatic Conference, held from November 11 to 22, was hosted by the Saudi Authority for Intellectual Property and attracted high-ranking officials and decision-makers from WIPO member states.