Future Investment Initiative

The Future Investment Initiative is an annual investment forum established by His Royal Highness Prince Mohammed Bin Salman Bin Abdulaziz, crown prince, prime minister, chairman of the Council of Economic and Development Affairs, and chairman of the Public Investment Fund, in 2017. It has become known in the media as Davos in the Desert. It is hosted annually by the Public Investment Fund in Riyadh, Kingdom of Saudi Arabia, and discusses the trends and future of the global economy and the investment environment in the future decades.

The Initiative aims to explore investment opportunities, stimulate innovation, and activate advanced technologies. Moreover, it seeks to uncover and address global challenges, and forms a platform for investors and leaders who can shape the future of global investment.

In 2017, the year that witnessed fluctuations in oil prices and significant progress in energy and environmental technology, the first edition of the forum was launched to encourage investors to search for new sources of revenue and profits. Additionally, it served as a basic platform to activate global communication between investors, innovators, governments, and economic sector leaders.

When established, the forum discussed the challenges of economic diversification by investing in renewable energy. It featured senior energy officials around the world, including Eng. Khalid al-Falih, former Minister of Energy, and Rachel Kate, Executive Director and Special Representative of the UN Secretary-General for Sustainable Energy for All initiative.

The forum's first edition witnessed the launch of NEOM Project - the city of the future, an independent economic zone with a financial value of USD500 billion, to be established in three countries: The Kingdom, Egypt, and Jordan. Topics also included AI, big data, cryptocurrencies, and climate change.

The forum hosted about 3,800 participants from ninety countries, including businessmen, CEOs, government officials, and economists. Among the key participants were Crown Prince Mohammed bin Salman, Steven Mnuchin, former United States Secretary of Treasury, Christine Lagarde, former Managing Director of the International Monetary Fund, and Masayoshi Son, CEO of SoftBank.

The second edition of the forum was held in 2018 under the theme "A Blueprint for the 22nd Century" and was watched by more than 2.6 million viewers during its live broadcast. The forum attracted a number of international companies in the fields of energy and technology, as well as foreign channels and international agencies. During the second edition, agreements worth more than SAR225 billion were concluded.

While presenting a speech at the forum, Crown Prince Mohammed Bin Salman said, "In the past years, Arab countries have developed enormously in the economic sector. In the next five years, the Middle East will become the new Europe. This is the war that I'm leading, and I do not plan on leaving this life before seeing the Middle East at the forefront of the world."

The forum was particularly distinguished for adopting innovative ideas, such as exploring new models for innovation and investment that enhance financial returns and support sustainability in all aspects of life, in addition to establishing systems, and adopting a culture that encourages best human practices in the age of technology.

In 2019, the forum hosted in its second edition about six thousand participants from 110 countries, in addition to 275 speakers and thirty iconic international figures, including Jared Kushner, former White House Senior Adviser, and officials from several Arab and European countries.

The fourth edition of the Future Investment Initiative was held in 2021 under "The Neo-Renaissance". Participants explored the activation of AI in the economic renaissance. They also discussed global healthcare challenges, climate change, and how over one billion children were affected by school closures following the COVID-19 pandemic. At the forum, Crown Prince Mohammed bin Salman announced during a panel session entitled "The Future of Riyadh" a strategy to develop the city as part of plans to diversify sources of income and grow the economy.

In 2021, Riyadh hosted the fifth session of the Future Investment Initiative under the slogan "Investing in Humanity", with the participation of more than two thousand missions, and five thousand participants, including decision-makers, corporate leaders, policy makers, investors, and innovators from all over the world.

This edition, which was held after COVID-19 restrictions were alleviated, discussed ways to invest in clean water, education, public health, gender equality, and fighting against poverty, especially in countries with no access to the COVID-19 vaccine.

In 2022, the sixth session, which was held under the theme “Investing in Humanity: Enabling a New Global Order,” witnessed the participation of six thousand people from all over the world, as well as five hundred speakers from different sectors inside and outside the Kingdom. Moreover, the forum organized 180 simultaneous sessions, thirty workshops and four micro-summits that discussed balancing success with sustainability, the rise of geo-economic powers, and achieving equality in an unequal world.