FII’s Flagship Forum Kicks Off in Riyadh

Preparations underway in Riyadh for the Future Investment Initiative forum, which kicks off on Tuesday (Asharq Al-Awsat)
Preparations underway in Riyadh for the Future Investment Initiative forum, which kicks off on Tuesday (Asharq Al-Awsat)
TT

FII’s Flagship Forum Kicks Off in Riyadh

Preparations underway in Riyadh for the Future Investment Initiative forum, which kicks off on Tuesday (Asharq Al-Awsat)
Preparations underway in Riyadh for the Future Investment Initiative forum, which kicks off on Tuesday (Asharq Al-Awsat)

Financial and investment leaders from around the world have gathered in Riyadh for the annual Future Investment Initiative (FII) forum, which will shed light on topics of international concern.

More than 6,000 global business chiefs, policymakers, investors, and entrepreneurs will participate in the event themed “Investing in Humanity: Enabling a New Global Order.”

Over three days, with more than 500 international speakers, the conference will host 180 sessions by global leaders from different sectors. These sessions will address the most pressing economic questions of our time to shape the future of the global economy.

The FII forum has gained momentum from its international presence in its past editions, which contributed to the formation of many ideas and solutions to the challenges the world is currently facing.

The first day will feature a discussion by a group of Nobel laureates which will try to find sustainable solutions for meeting the global population's basic needs.

Sessions at the forum will talk about the challenges brought on by the new global order, as well as the opportunities that arise from it, such as creating an economic system that improves the quality of life for citizens around the world.

In addition, the first summit at the conference will be held on the first day under the theme “Clash of Generations.”

It is expected that the forum, taking place from Oct. 25-27 in Riyadh, will witness the announcement of agreements and partnerships.

This international gathering in the Saudi capital comes at a time when the world is witnessing many challenges.

“Our way to the New Global Order is filled with unprecedented challenges, which is why the timing and theme of this year's FII is of upmost importance and relevance,” commented Richard Attias, CEO of the FII Institute.

“In its 6th Edition, FII focuses on Investing in Humanity – a call to action that is desperately needed in a time in which supply shocks, inflation, a global energy crisis, and geopolitical conflicts present deep challenges,” he added.



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.