RIYADH: Secretary General of the Gulf Cooperation Council (GCC) Jasem Mohamed Albudaiwi has said that the hosting of the FII8 conference by Saudi Arabia reflects the Kingdom’s leading economic and investment role at both regional and global stages, the Saudi Press Agency (SPA) reported on Tuesday.
The GCC top office is participating in the eighth edition of the Future Investment Initiative (FII8), being held under the theme: “Infinite Horizons: Investing Today, Shaping Tomorrow”, in Riyadh between October 29 and 31.
The Future Investment Initiative Institute has organised the event which is attended by leaders, heads of state, prominent investors, and executives from major global and regional institutions and companies.
The initiative aims to boost cooperation between the public and private sectors, encourage innovation, and develop a sustainable economy by providing innovative solutions to global challenges. It also seeks to attract international investments and support entrepreneurs and startups, thereby reinforcing strategic partnerships and advancing the Saudi Vision 2030.
Albudaiwi in his remarks stressed that the presence of global leadership figures highlights confidence in the Saudi economy and bolsters the Kingdom’s position as a hub for global economic and investment partnerships.
He added that the FII8 is part of the GCC’s efforts in the fields of investment and trade, including attracting regional and global investors to the Gulf market. The secretary-general also said that the sovereign wealth funds of the GCC member states manage numerous international investment portfolios, with these funds holding around 33% of the total value of investments worldwide.
