Saudi Arabia Postpones FII Until 2027

(MENAFN- Pajhwok Afghan News) "> KABUL (Pajhwok): Saudi Arabia has postponed the Future Investment Initiative (FII) conference, which was scheduled to take place in Riyadh next week, until 2027 amid an increase in deadly attacks by Yemen's Houthi rebels on the country.

The annual event was due to start on October 26 and run until October 29, with next year's dates to be announced“very soon”, Al Jazeera reported, quoting a statement on the conference's website.

The conference, also known as“Davos in the Desert”, is one of Saudi Arabia's most important economic gatherings. It aims to attract billions of dollars in foreign investment to develop the tourism, sports and technology sectors and reduce the country's dependence on oil.

FII Institute Chief Executive Officer Dr Maha bint Mishari Al Saud said the decision“comes from a deep commitment to our partners, members, speakers and delegates”.

The decision comes amid an escalation in fighting in recent weeks between the Saudi-led coalition and Yemen's Houthis, who are backed by Iran.

According to the report, the Houthis have targeted Saudi military and energy facilities, as well as civilian infrastructure, including Riyadh International Airport, in recent attacks. At least 18 people have been killed and hundreds of others injured.

Meanwhile, amid continued attacks, several government agencies and private companies in Riyadh have asked their employees to work from home.

Sources said employees of some government agencies had been instructed to work online from Monday to Thursday this week.

Kingdom Centre, a commercial complex in Riyadh that houses the International Monetary Fund's regional office, has also asked employees not to report to work until further notice.

The report added that companies based in Riyadh's King Abdullah Financial District had introduced similar measures.

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