Bloomberg: Saudi Arabia postpones FII investor conference to 2027

RIYADH, Oct. 21 (YPA) – Saudi Arabia decided to postpone its Future Investment Initiative (FII) conference until 2027 following 24 hours of intensive consultations, Bloomberg reported.

Saudi officials weighed two options: hold the conference virtually or postpone it altogether amid ongoing Yemeni attacks, according to the report.

The postponement highlights the challenges facing Saudi Arabia’s efforts to attract global financial institutions and international companies.

The decision involved senior Saudi leaders because of the conference’s close ties to the Public Investment Fund (PIF) and Crown Prince Mohammed bin Salman’s personal oversight of the event, Bloomberg reported.

The agency also said intensified Yemeni operations in October had prompted several governments to impose additional travel restrictions on Saudi Arabia. The restrictions complicated travel to Riyadh for conference participants and heightened concerns among executives at major Wall Street firms about investment opportunities in the kingdom.

The attacks have also disrupted major economic and entertainment events in Saudi Arabia, according to Bloomberg.

The disruption has reportedly affected events outside the kingdom as well. A source familiar with the matter told Bloomberg that the Select Capital Markets Forum in London, organized by the Saudi Exchange and the London Stock Exchange, had also been postponed because of air travel restrictions.

The chief Macro analyst at Signum Global told Bloomberg that the Yemeni strikes had damaged Saudi Arabia’s image as the Gulf’s leading investment destination.

@E.Y.M