Frankly Speaking: What to expect from this year’s FII?

Short Url
Updated 27 October 2024
Follow

Frankly Speaking: What to expect from this year’s FII?

Frankly Speaking: What to expect from this year’s FII?
  • Richard Attias says Oct. 29-31 conference in Riyadh will focus on AI and tech, reflecting their growing influence across industries
  • Veteran events producer says Saudi Arabia’s strategic location has been key to the Future Investment Initiative’s success

DUBAI: Artificial intelligence and new technologies will top the agenda when the Future Investment Initiative (FII) holds its eighth conference in the Saudi capital, Riyadh, from Oct. 29 to 31, CEO of the FII Institute Richard Attias has said.

Dubbed “Davos in the Desert,” FII is a platform where global leaders, CEOs, entrepreneurs, and policymakers gather to shape the future of industries, governance, and humanity.

While the annual conference has historically drawn participants from the financial sector, Attias told the Arab News current affairs program “Frankly Speaking” this week that this year’s gathering marks a significant shift toward tech-driven industries.

“At the beginning of FII, the majority of our participants and delegates were coming from the financial sector, from sovereign wealth funds, private equities, and I would say the key ‘old economy’ industries,” said Attias.

“This year, we are extremely happy to see that we have more and more people coming from the tech industries, including AI, because AI is everywhere, and AI is now. And AI is disrupting almost all industries and all sectors.”

This focus on AI reflects broader global trends. With industries from healthcare to entertainment being transformed by new technologies, Attias says FII seeks to bring together tech innovators and established global players to explore the potential of these innovations.

“If you ask me what I want the legacy of the FI Institute to be, it is to be really an inclusive platform, a bridge between global CEOs from the traditional economies and young entrepreneurs,” he said.

Attias has developed and produced more than 2,000 events over a career spanning 30 years, including the World Economic Forum Annual Meeting at Davos, the Clinton Global Initiative, Nobel Laureates Conferences, the New York Forum, and the UNESCO NGO Forum.

When FII first got off the ground in 2017, it was met with skepticism in some quarters. Many questioned whether the world needed another forum for business and political leaders, and there were doubts about Saudi Arabia’s ability to pull off such an ambitious event.




FII CEO Richard Attias told the Arab News current affairs program “Frankly Speaking” this week that this year’s gathering marks a significant shift toward tech-driven industries. (AN Photo)

However, FII has not only survived but thrived. In the past seven yers, the conference has facilitated deals worth $128 billion — an indication, perhaps, that FII is far more than just a networking opportunity.

“I don’t want to be too pretentious, but I think we don’t see any more skeptical people,” said Attias. “When people come back and come back every year, this is the answer. Because global CEOs don’t have time to lose. Time is money for them.”

He added: “People are coming back because they find great content, they are inspired, they realize that these platforms, such as FII, are calls to action. They also make deals. It’s not just about networking. It’s really making deals.”

Another indicator of its success is how it bounced back from the lockdowns and travel restrictions imposed on such events during the coronavirus pandemic.

“COVID-19 has proven that in-person meetings are absolutely crucial,” said Attias. “And despite the virtue of the hybrid formulas of conferences, people are coming back again and in even bigger numbers.”

Attias believes the choice of Saudi Arabia as the host country for FII has been integral to its success, with the Kingdom’s strategic location making it a natural meeting point for the world’s economic centers of gravity.

“Saudi Arabia is definitely a global hub today, and it is, I would say, a catalyst between north and south and west and east,” he said. “It is extremely well located if you look at the world map.”

Attias highlighted the forum’s role in fostering discussions between key global powers. “We see great conversations between Chinese and Americans,” which is significant given the complex geopolitical dynamics at play.




FII Institute CEO Richard Attias speaks at a press conference in Riyadh on Tuesday to announce details about the eighth edition of FII. (AN Photo)

More than that, Attias views Saudi Arabia as a prime example of a nation that is investing and adopting innovation to power its economic transformation.

“Beyond FII, the Kingdom of Saudi Arabia is definitely now a place where global conversations are happening on multiple industries, on mining, on the future of aviation, on the future of logistics, on the future of technology, and so forth,” he said.

“You have an amazing program, a vision called Vision 2030. And if people read Vision 2030 very well, they understand that this country is in full transformation, creating amazing sectors, which are contributing to the diversification of the economy.

“And the Kingdom is moving from being an oil-producer economy to a very diverse economy. So all these platforms are becoming the global conversations on all these sectors which are supporting the diversification of the economy. And this is how Saudi leads.

“And people are very happy to come here. It reminds me of what happened in China 20-plus years ago when China moved from almost a country which was one single economy to an open global economy.”

With attendees flying into Riyadh from across the globe, FII appears to have emerged as a truly international platform.

“This year, despite the fact that for many people you need to become a member of the organization, of the FI Institute, we are approaching a number of 8,000 global CEOs, C-suites, entrepreneurs, and public figures,” said Attias.

This diverse representation ensures that the discussions at FII are rich with insights from various perspectives, industries, and regions. “It’s a real global conversation,” said Attias, with 30 percent of attendees coming from the US, 20 percent from Europe, and 20 percent from Asia.




FII is committed to fostering positive change through effective solutions across various domains, including global connectivity, mining, AI, health-tech, sports, the other key areas. (AN Photo)

One of FII’s most critical contributions to global development is its emphasis on sustainable investment. From renewable energy to healthcare and affordable housing, FII aims to encourage investments that have a lasting impact on humanity.

“The way you measure a long-term impact is how investment, for example, in sustainable developments are happening, in renewable energy, in sustainable agriculture, in green infrastructure,” said Attias.

The forum has pioneered a new ESG (environmental, social, and governance) framework, which Attias refers to as his ESG 2.0 framework. The new model is necessary because “the current one was not fair and was excluding emerging countries,” he said.

Attias believes the adoption of this new framework could unlock trillions in new investment for regions like Asia and Africa, helping to combat challenges like climate change and social inequality. “This has a direct impact on quality of life, which means impact on humanity,” he added.

FII’s influence is not confined to Riyadh. The initiative has expanded globally with satellite events in major cities like Miami, London, and Rio. Attias sees these events as essential to expanding FII’s global relevance.

“We decided to go also to our members’ regions, continents, and countries. This is why we will have an FII satellite event, what we call a FII priority summit, on each continent,” he said.

Attias believes FII is uniquely positioned to address some of the world’s most pressing issues. From inflation and climate change to digital transformation, the forum brings together “visionary thinkers, game changers, and innovators to discuss solutions,” he said.

Business leaders are particularly concerned about economic uncertainty, rising interest rates, and supply chain disruptions — issues that are top of mind for many attendees, said Attias.

But FII does not just focus on the challenges — it aims to inspire optimism. “People need to talk, people need to be inspired, people want to exchange ideas, and people want to be optimistic,” Attias said.




A partnership between Riyadh’s King Abdullah Financial District Management and Development Co. and the Future Investment Initiative Institute, launched last year, is set to drive the Saudi capital’s economic resilience and prosperity. (Supplied)

Indeed, he said the forum is committed to fostering collaboration and developing actionable solutions that can be implemented on a global scale.

“By having unexpected conversations, in total transparency, where people who are sometimes having separate visions, separate approaches, is helping to solve the problem,” said Attias. “And when people come with solutions and actions, definitely the question after is implementation.

“But we see more and more leaders now who are changing their mindset. They don’t want just to be visionary leaders or dreamers, to quote His Royal Highness, the Crown Prince (Mohammed bin Salman), he said this place is a place for dreamers and doers, talking about the Kingdom of Saudi Arabia.

“And I think this is what FII is about. FII is a global conversation where you see many dreamers who are doers.”

Despite the backdrop of ongoing conflicts in Gaza, Lebanon, and beyond, Attias says FII attendees remain focused on the positive role that investment and collaboration can play in creating stability.

“We saw that even last year, our conference was happening just after the dramatic Oct. 7, I would say, catastrophe,” he said. “I was expecting people to maybe pull out, not attend. It was the opposite, everybody came. And they wanted to have this conversation.”

He added: “They want to continue to be optimistic because they know that it’s only by building prosperity that you will bring peace. It’s only by investing in these regions that you will fight against terrorism. And it’s only by sending a message of optimism that you will show that our world is extremely resilient.

“And it’s also a message to politicians (that the) private sector will continue to do what we have to do for the benefit of our employees, for the benefit of our citizens, for the benefit of our countries.”

Attias remains confident the world will overcome its present challenges — as long as conversations like the annual FII event continue.

“Humanity is extremely resilient. Trust me,” he said. “We saw that after COVID-19, and this is why this global conversation is happening. I think ultimately, we will see the light at the end of the tunnel. I am convinced of that. And we will build and continue to build a sustainable world.”

 

 


Expo showcases Korean creativity at Boulevard City

Expo showcases Korean creativity at Boulevard City
Updated 03 November 2024
Follow

Expo showcases Korean creativity at Boulevard City

Expo showcases Korean creativity at Boulevard City
  • The blend of modern and traditional elements provided visitors with a deeper understanding of Korean culture, showcasing its evolution and depth

RIYADH: An expo in Riyadh has showcased the diversity of Korean culture, drawing crowds to Boulevard City.

The Korea Brand Expo was held on Oct. 31-Nov. 1 as part of Riyadh Season.

Opening its doors from 5 p.m. until midnight, the expo created an inviting space for attendees to immerse themselves in the latest Korean goods while enjoying a variety of artistic performances.

One of the highlights of the event was the appearance of renowned Korean artist Kwon Yuri, who captivated the audience with her presence and talent.

Alongside her, popular musical groups such as NOMAD and OZMSR energized the crowd with their performances, creating a lively ambience that reflected the dynamic spirit of contemporary Korean music.

The Changtique band added another layer to the musical experience by performing traditional Korean music, celebrating the nation’s rich artistic heritage.

The blend of modern and traditional elements provided visitors with a deeper understanding of Korean culture, showcasing its evolution and depth.

In addition to the musical acts, the event featured a variety of engaging activities designed to entertain and connect fans with their favorite stars. Interactive signing sessions allowed attendees to meet and greet their idols, creating memorable moments that fans will cherish.

Talk shows with Korean celebrities offered insights into their personal stories and experiences, fostering a deeper connection between the artists and the audience.

The Korea Brand Expo served as an excellent platform for introducing local audiences to a wide array of Korean products, all within an environment that seamlessly blended art, creativity and innovation.

Visitors had the opportunity to explore diverse exhibits that showcased the latest trends in fashion, accessories, technology and lifestyle. Each exhibit was thoughtfully curated to reflect the essence of Korean culture, providing a captivating experience for all who attended.

Entry to the exhibition was free. The Korea Brand Expo not only celebrated Korean creativity, but also strengthened cultural ties, leaving a lasting impression on all who attended.

As the event concluded, it was clear that the expo highlighted the richness of Korean culture and its potential to inspire and connect with audiences around the world.


The wheel of time: Jazan’s vibrant pottery reflects heritage

The wheel of time: Jazan’s vibrant pottery reflects heritage
Updated 02 November 2024
Follow

The wheel of time: Jazan’s vibrant pottery reflects heritage

The wheel of time: Jazan’s vibrant pottery reflects heritage
  • Pottery in Jazan is a lasting symbol of authenticity and belonging through the efforts of artisans and enthusiasts

RIYADH: In Saudi Arabia’s Jazan region, pottery is not just a craft but also among the oldest heritage crafts embodying the region’s cultural identity. Its creative legacy echoes locals’ dedication to preserving the traditions of their ancestors.

Over the years, the people of Jazan learned to transform clay into durable and functional tools and utensils. These handcrafted items reflect the beauty of Jazan’s nature and the depth of its heritage — a historic art form that strengthens the relationship between locals and land.

Jazan’s artisans have mastered the art of pottery, molding the clay extracted from dry valleys known as “valley clay.” The clay is carefully collected, purified and kneaded to become soft and moldable, Saudi Press Agency reported recently.

Simple tools are used in molding clay items before leaving them to dry under the sun for several days. The plates are later placed in traditional kilns at high temperatures to become durable and solid to withstand high temperatures and daily use.

Among the pieces created are cooking pots, cups and utensils that continue to be valuable and are used to cook and serve traditional dishes. 

Cooking in clay pots is part of experiencing the region’s heritage and brings with it the warmth of the past. The slow and even distribution of heat makes enhances the dishes that are cooked in it, such as madhbi and mandi.

Despite the emergence of modern household appliances, clay pots for cooking and serving food are still widely popular in Jazan and beyond. 

However, SPA’s report noted that although pottery is an appreciated part of heritage in Jazan, it is facing several challenges, including the lack of young Saudi craftsmen and the lack of natural clay resources.

This has compelled local authorities to intensify efforts to support the craft of pottery, such as organizing training courses that enable youths to acquire the skills for carrying the legacy of this tradition into the future.

Local festivals are also being organized to introduce visitors to the importance of pottery in the region’s heritage and its role in the Saudi culture, SPA reported. 

Pottery in Jazan is a lasting symbol of authenticity and belonging through the efforts of artisans and enthusiasts. It combines locals’ love for land and nature and represents a significant aspect of the region’s cultural identity.


Saudi authorities arrest 21,370 visa violators, border intruders in a week

Saudi authorities arrest 21,370 visa violators, border intruders in a week
Updated 03 November 2024
Follow

Saudi authorities arrest 21,370 visa violators, border intruders in a week

Saudi authorities arrest 21,370 visa violators, border intruders in a week

RIYADH: A campaign to track down and arrest violators of residency, employment and border security regulations was conducted across the Kingdom in last week of October. 

A total of 21,370 violators were caught throughout Saudi Arabia, including 12,274 violators of the residency regulations, 5,684 violators of the border security regulations, and 3,412 violators of the employment regulations.

Some 1,492 people were arrested while attempting to cross the border into the Kingdom, of whom 35 percent were Yemeni citizens, 61 percent Ethiopians, and 4 percent of other nationalities. Moreover, 34 people were caught for attempting to irregularly cross the border out of the Kingdom.

Fifteen people were detained for their involvement in transferring, sheltering or employing violators of residency, employment and border security regulations.


Saudi agency aids 258 orphans in Jordan

Saudi agency aids 258 orphans in Jordan
Updated 03 November 2024
Follow

Saudi agency aids 258 orphans in Jordan

Saudi agency aids 258 orphans in Jordan

AMMAN: King Salman Humanitarian Aid and Relief Center has distributed monthly aid to 258 orphaned children from low-income Jordanian and Syrian refugee families in Mafraq and Irbid, Jordan.

Working with the Jordan Hashemite Charity Organization, the Saudi aid agency provided year-long support covering basic living expenses, educational materials, Eid clothing, and recreational activities. The program aims to eventually support 1,000 orphans across Jordan.

Meanwhile, the aid agency recently concluded its project to combat blindness in Kano, Nigeria. The week-long campaign provided vital eye care to the community, including conducting 5,956 examinations, performing 411 surgeries, and distributing 914 eyeglasses.

This initiative underscores Saudi Arabia’s commitment to global health and humanitarian aid.


Saudi delegation attends GCC meeting in Doha

Saudi delegation attends GCC meeting in Doha
Updated 03 November 2024
Follow

Saudi delegation attends GCC meeting in Doha

Saudi delegation attends GCC meeting in Doha

Saudi Deputy Minister of Industry and Mineral Resources for Industrial Affairs Khalil bin Salamah led Saudi Arabia’s delegation at the 53rd Gulf Cooperation Council Industrial Cooperation Committee meeting in Doha, Qatar.

The meeting discussed several topics of mutual interest that aim to advance the industrial sectors in GCC countries, Saudi Press Agency reported on Saturday.

Salamah held bilateral meetings with several GCC Ministers of Industry and Commerce including Oman’s Qais Al-Yousef; Kuwaiti's Khalifa Al-Ajeel; and Bahrain's Abdullah bin Adel Fakhro.