The sessions of the ninth edition of the Future Investment Initiative (FII9) conference officially commenced on Tuesday at the King Abdulaziz International Convention Center in Riyadh.
Held under the theme "The Key to Prosperity," the event drew an elite audience, including heads of state, ministers, officials from sovereign wealth funds, senior executives, and pioneers from various fields, the Saudi Press Agency reported Tuesday.
Governor of the Public Investment Fund, Chairman of Saudi Aramco Board, and Chairman of the Board of Trustees of the FII Institute Yasir Al-Rumayyan delivered the opening remarks.
He welcomed attendees, hailing the conference as the world's preeminent gathering for those with the vision to translate ideas and investments into tangible global impact. "Deals worth more than $250 billion have been concluded through this platform since the conference's inception less than a decade ago," he stated. "Together, we have come a long way, but this year we must take our impact to even greater heights."
He stressed the gravity of the moment, noting that the collective power of capital represented by the decision-makers present "imposes a great responsibility on us, and at the same time, gives us a greater opportunity to shape the future of the global economy. We must assume this responsibility and seize this opportunity without delay."
Acknowledging the rapid changes since the last meeting, he pointed out that investors and companies now face a new economic reality and swift technological transformations. The old models that propelled us to this stage, he argued, can no longer keep pace.
"Governments cannot correct the course alone, and the private sector cannot bear the burden alone," he said. "The solution lies in the combined efforts of governments and the private sector as true partners. We need a new model and global cooperation that keeps pace with a new era of shared prosperity."
Al-Rumayyan emphasized that FII is the ideal platform to unite world leaders, investors, and decision-makers from diverse sectors. He cited that the global GDP has surpassed $111 trillion and is expected to grow by $2.8% this year. However, he highlighted a critical disconnect revealed in this year’s FII annual priorities report.
While 66% of people feel positive about their lives, only 37% are optimistic about the world's future, and 69% worry about job loss due to foreign competition. "This gap between individual hope and collective doubt represents a warning," he cautioned.
He proposed that technology could help bridge this divide, provided it is accessible to all. Yet, he noted, three out of four people fear that artificial intelligence will widen the educational gap between societies with educational opportunities and those without.
"We cannot allow this to happen. We must confront the inequalities that have hindered progress," he asserted, noting that in 2025, nearly 10% of the world's population—approximately 808 million people—will live in extreme poverty. "With every challenge comes an opportunity to find solutions that serve all of humanity," he concluded.
The governor underscored the essential partnership between governments and the private sector to harness global capital for security, stability, opportunity creation, and fostering optimism. He called for governments to intensify their efforts, advocating for open, unrestricted markets and smart, rather than excessive, regulation.
Al-Rumayyan praised the Kingdom's economic overhaul: “Under the leadership of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, the Kingdom has set a new global standard for economic transformation through Vision 2030, which has opened up broad horizons for future generations."
"Nine years have passed since the launch of the Vision, and the results are evident everywhere: new cities, new industries, integrated ecosystems, and innovative supply chains," he said, revealing that foreign investment grew by 24% last year alone, reaching $31.7 billion. "We have introduced the Kingdom to the world, and now the world is coming to the Kingdom," he stated, pointing to FII, Expo 2030, and the 2034 FIFA World Cup.
He affirmed that wealth in the Kingdom "is not measured by numbers, but by human prosperity." This week in Riyadh provides opportunities to forge cross-border partnerships that make a real impact and embody the true power of global cooperation. The FII, he concluded, will continue its pioneering role, with this edition set to close with a declaration that unites world leaders in a common pursuit of progress for everyone.
Future Investment Initiative (FII) Institute Acting CEO and Executive Committee Chairman Richard Attias also delivered a welcome speech, expressing pride in the institute's success in building a passionate community aspiring to change the world.
He recalled the initiative's founding vision: to bring together global decision-makers not to compete but to collaborate, and not just to talk about the future but to shape it.
This year's edition has reached a historic 9,000 delegates, including 2,000 members and media groups from around the world.
Attias emphasized that today’s event represents a "historic milestone and a launch for the main theme, 'The Key to Prosperity,' which is shaping the world." He highlighted the initiative's greater inclusiveness this year, with ideas that advance bold movement in health, artificial intelligence, and human development.
The FII, he stated, "belongs to everyone. It is a force that comes from collective action and succeeds if all of us, members of this movement and its ideas, participate in creating transformation." He pointed to the unveiling of new financing paths in the coming days, noting, "Creativity and courage, this is what the initiative represents."
