Saudi investment forum set for strong showing

Riyadh: Around 300 global senior officials, executives and business moguls have confirmed participation in a major investment forum opening on Tuesday in the Saudi capital Riyadh, the organiser has said.

The participants in the three-day Future Investment Initiative (FII), also known as the Desert Davos, come from 30 countries, the Public Investment Fund, Saudi Arabia’s key sovereign fund, added.

Key guests of this year’s event are expected to include Indian Prime Minister Narendra Modi; Brazilian President Jair Bolsonaro; and Swiss President Ueli Maurer.

Treasury Secretary Steven Mnuehin will head a US delegation to the conference, including Jared Kushner, President Donald Trump’s adviser and son-in-law, according to media reports.

Dozens of global businesses, including 25 US banks and firms, will be represented at the FII, Saudi newspaper Asharq Al Awsat said.

Over 6,000 experts have registered to attend the form, which debuted in 2017 as Saudi Arabia is seeking to diversify its oil-reliant economy and emerge as a major investor destination.

Top world officials and financiers stayed away from last year’s FII edition after the murder of Saudi journalist Jamal Khashoggi inside Riyadh’s consulate in Turkey.

Saudi authorities have since arrested more than a dozen suspects and pledged to bring justice in the case. Their trial opened in January.