Saudi FII Signs 16 Global Partnerships

A previous edition of the “Future Investment Initiative” forum (Asharq Al-Awsat)
A previous edition of the “Future Investment Initiative” forum (Asharq Al-Awsat)
TT

Saudi FII Signs 16 Global Partnerships

A previous edition of the “Future Investment Initiative” forum (Asharq Al-Awsat)
A previous edition of the “Future Investment Initiative” forum (Asharq Al-Awsat)

The Future Investment Initiative (FII) announced signing 16 partnerships with international corporate companies to make an impact in five key areas: artificial intelligence, robotics, education, healthcare, and sustainability.

The partnership contracts come at a time when the Saudi capital, Riyadh, is preparing to hold the fifth session of the FII from October 26 to 28under the slogan “Investing in Humanity.”

Discussions will revolve around investments that would achieve the most significant benefit to humanity, especially as multiple sectors experience an economic renaissance in the post-pandemic era.

According to information released on Thursday, the platform will bring together state leaders, company leaders, policymakers, investors, and innovators from all over the world.

The global forum will explore pioneering solutions that address challenges facing society and work to achieve those solutions.

Over three days, the FII forum will feature interactive summits on investment in education, metaverses, and ESG standards.

FII Institute CEO Richard Attias said: “Each partner brings unique and pioneering technology that supports the FII Institute mission to make a positive impact on humanity. The investments, inventions, research, and products from these top global companies all aim to create a better world for all.”

“As multiple sectors witness a renaissance in a post-COVID era, the 5th Anniversary of FII will bring together world leaders, experts, innovators, and media in a global forum to explore solutions to society’s most pressing challenges and propel action towards their realization,” he added.

The FII is working to present facts and figures as part of launching several indicators to help government policymakers and the private sector to support investment in the future of humanity.



Chip Powerhouse Taiwan Calls for Economic Partnership Deal with EU

 Taiwan President Lai Ching-te speaks at the annual Taiwan-EU investment forum in Taipei, Taiwan November 18, 2024. (Reuters)
Taiwan President Lai Ching-te speaks at the annual Taiwan-EU investment forum in Taipei, Taiwan November 18, 2024. (Reuters)
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Chip Powerhouse Taiwan Calls for Economic Partnership Deal with EU

 Taiwan President Lai Ching-te speaks at the annual Taiwan-EU investment forum in Taipei, Taiwan November 18, 2024. (Reuters)
Taiwan President Lai Ching-te speaks at the annual Taiwan-EU investment forum in Taipei, Taiwan November 18, 2024. (Reuters)

Taiwan President Lai Ching-te called on Monday for the signing of an economic partnership agreement with the European Union, saying it would boost cooperation in semiconductors and that as democracies the two sides should be working together.

Taiwan has pushed for the signing of investment and trade deals with the EU, in what would be politically significant for Taiwan given its diplomatic isolation and general exclusion from most global bodies and agreements.

For its part, the EU has been courting Taiwan as a "like-minded" partner under the European Chips Act to encourage more semiconductor production in Europe and lessen dependence on Asia, despite the lack of formal ties with the Chinese-claimed island.

Speaking at a Taiwan-EU investment forum in Taipei, Lai said that facing the threat of expanding authoritarianism, Taiwan and the EU must form a "strong democratic umbrella" and build secure supply chains for global democracies.

"Looking to the future, Taiwan hopes to take an innovative approach towards the signing of an economic partnership agreement with the EU," he said.

Such an agreement would set a sound institutional basis for further cooperation in fields such as semiconductors and AI, Lai added.

"This would not only make both our economies more resilient and secure, but also ensure the stable operation of global supply chains."

Taiwanese investment in EU has been anchored by Taiwan Semiconductor Manufacturing Co (TSMC), which in August launched a major new chip plant in Dresden, Germany, expected to be a key supplier to European industry and automakers.

Maria Martin-Prat, deputy head of the European Commission's directorate general for trade, made no mention of signing such a deal with Taiwan in a video message to the investment event, though she did praise bilateral relations.

"Taiwan, a vibrant democracy with an open economy, is a trusted partner for us to promote our economic security," she said.

Taiwan has few free trade agreements, though last year it signed an Enhanced Trade Partnership with Britain and has applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or CPTPP.