Experts gather in Riyadh to redefine global future
Business
Future Investment Initiative summit is set to unite 5,000 delegates
RIYADH (Web Desk) The 7th edition of the Future Investment Initiative summit is set to unite 5,000 delegates and offer insights from 500 distinguished speakers across a spectrum of critical sectors.
To be held under the theme “The New Compass,” the event will be held in Riyadh from Oct. 24 (today) to Oct. 26. The FII Institute is a worldwide nonprofit organization with an investment arm dedicated to making a global impact by fostering cross-border collaboration among exceptional minds.
It is dedicated to converting innovative ideas into practical solutions across critical areas such as artificial intelligence and robotics, education, healthcare, and sustainability.
Seif Sammakieh, partner and head of the Riyadh office at management consultancy firm Oliver Wyman, told Arab News: “There are significant opportunities for both investors and partners across the tourism and development sectors in Saudi Arabia.”
He highlighted the Kingdom’s commitment to unlocking the potential of its landscapes and cultural treasures for tourism, bringing forth profound opportunities.
Sammakieh added that it is heartening to see leadership preserving the peninsula’s long and rich history and leveraging it as a tremendous source of inspiration and empowerment for the nation’s majority youth population, who are more eager than ever to contribute to their country’s legacy.
He explained that this fresh perspective of perceiving the rich diversity as an asset and something to share with the world would propel Saudi Arabia toward becoming a global tourism leader.
Jad Haddad, head of digital at Oliver Wyman in India, the Middle East, and Africa, highlighted the profound impact of digital advancements on Saudi Arabia’s Vision 2030.
Haddad emphasized the pivotal role of the digital economy within the framework of Vision 2030, highlighting how emerging technologies present significant opportunities for economic diversification and sustainable development, including direct contributions to the economy and increased productivity in other sectors.
“If Saudi Arabia becomes a specialized producer of ICT services, it could see digital technologies alone contribute up to 10 percent of its GDP. Cloud, AI, and even original equipment manufacturing offer particularly strong potential for growth and disruption,” he added.
In March, Saudi Arabia was ranked second among the G20 countries and fourth globally in its readiness for digital systems, according to the UN’s International Telecommunication Union.
Akram Alami, partner and Middle East head of aviation, utilities, and sustainability and responsibility practices at Bain & Co., brings attention to the global energy challenge, a key topic at the FII Institute this year.
The second day of the event is set to cast a spotlight on emerging economies, new middle powers, and the critical realm of climate solutions.
As Saudi Arabia sets its sights on deriving half of its energy mix from renewable sources by 2030, the Kingdom is actively advancing with 22.8 gigawatts of renewable energy projects.
The managing director of the Macro Trends Group in New York City, Karen Harris, emphasized the optimism surrounding Saudi Arabia’s transformative investments.
She said: “It’s hard not to be optimistic about the prospects for Saudi Arabia, given the direction of the investments it has been making.”
