Future Investment Initiative Postponed to 2027
The organizers of the Future Investment Initiative (FII), an annual investment conference in Saudi Arabia, announced on Monday that the event is being postponed from its scheduled dates of October 26-29 to an unspecified time in 2027.
While no specific reasons were given for the postponement, it’s widely believed to stem from recent attacks on targets in Saudi Arabia, particularly by Yemen’s Iran-backed Houthi rebels.
In their statement, FII emphasized, “This decision comes from a deep commitment to our partners, members, speakers, and delegates. Because this is our landmark tenth edition, we want to ensure it delivers the full scale, extraordinary quality, and unforgettable impact that our community has come to expect and truly deserves.”
Organizers indicated that new dates for 2027 would be announced “very soon,” assuring that all existing registrations and partnerships remain valid.
It was noted that many high-profile figures in business and finance were scheduled to speak at the conference, including Jamie Dimon from JPMorgan Chase, David Solomon from Goldman Sachs, and Larry Fink from BlackRock.
According to sources mentioned, some participants had even planned to circumvent the Houthi threat by flying to Bahrain first, then traveling by car for five hours to Riyadh, the intended location of the FII.
The FII, often referred to as “Davos in the Desert” inspired by the Global Forum held in Switzerland, was launched in 2017 by the Saudi sovereign wealth fund.
Crown Prince Mohammed bin Salman (MBS) revealed his ambitious plans for the NEOM mega-city during the inaugural FII event. The conference has become a key part of MBS’s strategy to broaden the Saudi economy’s reliance beyond just oil.
Earlier, it was reported that other nations in the region, like Qatar and the United Arab Emirates, had canceled or altered their events this year due to Iranian missile and drone strikes. However, Saudi Arabia had remained relatively safe until increased hostilities with the Houthis began in September.
Since then, the Houthis have escalated their attacks, striking civilian targets in Saudi Arabia, including a deadly hit on King Khalid International Airport in Riyadh on October 10, leading to at least 14 fatalities. The group dismissed widespread condemnation and continued to threaten air travel into Saudi Arabia.
Sources indicated that significant financial institutions had expressed safety concerns regarding attendance at the conference, prompting organizers to consider remote participation before ultimately deciding to postpone.
As the threat from Houthi attacks persists, it’s reportedly been advised that some government and private sector employees work from home in Riyadh. Recent claims from the Houthis suggest further attacks against airports and energy facilities, including another strike on King Khalid International Airport, while Saudi defenses managed to intercept several drones aimed at Riyadh over the weekend.
In light of the ongoing situation, King Khalid International Airport announced new restrictions on air travel, requiring prior approval for all takeoffs and landings and suspending its use as an emergency landing site. The airport saw complete shutdown on Monday with no timeline for reopening, which likely influenced the decision to postpone the FII conference shortly after these announcements.
