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FII in Riyadh to advance sustainability, economic growth
(MENAFN) The upcoming Future Investment Initiative (FII) in Riyadh, set for October 29-31, is poised to build on the successes of previous editions, which have significantly advanced discussions around sustainability and economic growth. The eighth edition of FII, dubbed FII8, is expected to announce deals worth USD28 billion, contributing to a remarkable total of over USD128 billion in agreements sealed during prior events.
In the previous edition, FII7, held from October 24-26, 2023, participants signed agreements totaling USD17.9 billion across diverse sectors, including aerospace, energy, and manufacturing. This underscores the forum's role as a critical catalyst for economic development, especially as Saudi Arabia aims to balance its traditional hydrocarbon investments with a strong commitment to renewable energy.
A highlight of FII7 was ACWA Power's financing deal for a wind energy project in Azerbaijan, showcasing the Kingdom's energy ambitions. Additionally, the FII Institute introduced its Inclusive ESG Tool, developed in partnership with the London-based firm ESG Book, aimed at improving sustainability metrics in emerging markets and addressing the substantial USD5.4 trillion investment gap in sustainable projects.
Discussions at FII7 also prominently featured artificial intelligence (AI), with industry leaders examining its transformative potential across various sectors, including finance, healthcare, and industry. As Goldman Sachs projected that AI investments could reach USD200 billion by 2025, speakers emphasized the importance of establishing robust regulatory frameworks to harness AI's benefits while mitigating associated risks.
With more than 7,100 participants expected at FII8, the event is set to bring together global leaders and industry experts, making it a pivotal platform for advancing sustainable investment and innovation. The high expectations surrounding the forum reflect its growing significance in the global financial landscape, particularly in fostering sustainable economic growth and addressing pressing challenges facing emerging markets.
In the previous edition, FII7, held from October 24-26, 2023, participants signed agreements totaling USD17.9 billion across diverse sectors, including aerospace, energy, and manufacturing. This underscores the forum's role as a critical catalyst for economic development, especially as Saudi Arabia aims to balance its traditional hydrocarbon investments with a strong commitment to renewable energy.
A highlight of FII7 was ACWA Power's financing deal for a wind energy project in Azerbaijan, showcasing the Kingdom's energy ambitions. Additionally, the FII Institute introduced its Inclusive ESG Tool, developed in partnership with the London-based firm ESG Book, aimed at improving sustainability metrics in emerging markets and addressing the substantial USD5.4 trillion investment gap in sustainable projects.
Discussions at FII7 also prominently featured artificial intelligence (AI), with industry leaders examining its transformative potential across various sectors, including finance, healthcare, and industry. As Goldman Sachs projected that AI investments could reach USD200 billion by 2025, speakers emphasized the importance of establishing robust regulatory frameworks to harness AI's benefits while mitigating associated risks.
With more than 7,100 participants expected at FII8, the event is set to bring together global leaders and industry experts, making it a pivotal platform for advancing sustainable investment and innovation. The high expectations surrounding the forum reflect its growing significance in the global financial landscape, particularly in fostering sustainable economic growth and addressing pressing challenges facing emerging markets.
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