Future Investment Initiative conference kicks off in Saudi Arabia

RIYADH, Oct. 29 (Xinhua) -- The 8th Future Investment Initiative (FII) conference kicked off on Tuesday in Saudi Arabia's capital Riyadh.

Dubbed "Davos in the Desert," the FII conference is the largest international investment and innovation forum in the Middle East, attracting many political and business leaders every year.

This year's theme, "Infinite Horizons: Investing Today, Shaping Tomorrow," highlights the event's focus on advancing impactful solutions in areas such as global connectivity, mining, artificial intelligence, health technology, sports, the circular economy, and more.

Addressing the opening ceremony, Yasir Al-Rumayyan, governor of the Public Investment Fund and chairman of FII Institute, noted that over the past seven years, FII has translated over 125 billion U.S. dollars in deals.

"Today, more than ever, we recognize that economic, social and environmental outcomes are interconnected. And these must be the core of our decision-making," he said.

"We have the responsibilities and the opportunities to share a future that invests not only in our economies but in humanity itself," he said, noting that pressing issues like economic instability, rising costs of living, health care disparities, social inequalities, and political tensions, are among the topics attendants of this year's event will focus on.

Al-Rumayyan called for a shift from investments based on short-term gains to those on "sustainable growth that benefits both our economies and societies."

"I believe that through collective efforts, we can create a world that is more inclusive, more sustainable," said Richard Attias, CEO of FII Institute, at the opening ceremony.

According to Attias, the 8th FII conference is expected to generate 28 billion dollars in deals.

Xinhua News Agency's Vice President Liu Jian attended the conference's opening ceremony.

This year's FII has over 7,000 participants and 600 speakers from diverse sectors, with Xinhua participating as the media partner. ■