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Khalid Al Falih, Saudi Arabia's investment minister, and Paul Chan Mo-po, Hong Kong's financial secretary, at the FII Priority summit

Saudi leaders gather in Beijing to boost $106bn trade

Saudi Arabia’s investment minister Khalid Al Falih is leading a delegation in Beijing this week as the kingdom looks to tighten ties with its largest trade partner. Government and private sector leaders will participate in the China-Saudi Investment Conference on Tuesday, as part of Al Falih’s six-day visit. China-Saudi trade stood at $106 billion in […]

Ford Mustang Mach-E at golden hour electric vehicle in the sun

Startup touts alternative EV batteries for Saudi industry

A startup developing non-lithium batteries for electric vehicles (EVs) says they are better suited to Gulf climates where flammability is a risk. But industry experts say it will be difficult to penetrate the car industry where lithium options are baked into budgets.  Mukesh Chatter, founder of Alsym Energy, argued his case to regional political and […]

FII 2023 Saudi Arabia Future Investment Initiative Riyadh

A look inside the Future Investment Initiative

Energy transition, artificial intelligence and the burgeoning role of the Global South were just some of the key themes covered at the seventh edition of the Future Investment Initiative (FII) held in Riyadh, Saudi Arabia. Held under the theme “The New Compass”, the three-day conference concluded with total investments worth $17.9 billion made. FII 2023 […]

'The deadline is not new, and it will be implemented,' said Saudi finance minister Mohammed Al Jadaan, regarding foreign companies moving their regional HQs to Saudi Arabia

Saudi Arabia to enforce 2024 regional HQ deadline  

The January 2024 deadline for global companies to move their regional headquarters to Saudi Arabia will be implemented without delay as scheduled, the kingdom’s finance minister has confirmed. Saudi Arabia announced in February 2021 that it will no longer sign contracts with foreign companies that do not have a regional headquarters in the country before […]

Egypt economy election

Egypt targets $35bn foreign investment in next five years

Egypt expects foreign direct investment of $35 billion over the next five years as the government aims to boost economic growth. The government aims to attract around $12 billion in foreign direct investment in 2023/2024, with a projected annual increase of 15 percent and 20 percent, Egypt Today reported, citing General Authority of Free Zones […]

Seagliders will connect key Neom destinations along 468 km of coastline, carrying both passengers and freight

Neom investment fund backs US futuristic transport firms

The newly launched investment arm of Saudi Arabia’s $500 billion futuristic giga-project Neom has made its first commitments, backing two US-based transport companies. The Neom Investment Fund (NIF) announced on Wednesday that it had made a $100 million investment in the global autonomous driving company A joint venture will be set up between the […]

The Red Sea Four Seasons resort will have 149 rooms and suites, plus 31 residential properties

Red Sea Global links up with Kingdom for $530m resort

Red Sea Global and Kingdom Holding Company have agreed a SAR2 billion ($530 million) joint venture to develop and own a Four Seasons resort at the Red Sea giga-project. The luxury development, scheduled to open in early 2025, will be built on Shura Island, the main hub of the 22-island giga-project. The Four Seasons resort […]

The first residents of Oxagon, a Neom project, are due to move in next year

Neom and Denmark’s DSV in $10bn logistics partnership

Saudi Arabia’s Neom and Danish freight forwarder DSV have entered into a $10 billion logistics joint venture (JV) that will serve the $500 billion giga-project in the kingdom’s northwest. The JV will provide supply chain management including delivering goods and materials to Neom, the companies said in a joint statement. Neom, owned by Saudi Arabia’s […]

Chinese ‘decision makers’ at Saudi conference doubles

Around 300 Chinese “decision makers” are attending Saudi Arabia’s flagship investment conference this year, organisers said on Thursday, double last year’s attendance as Riyadh deepens its relationship with China despite US concerns. Only around 15 people have cancelled their attendance of the annual Future Investment Initiative (FII), Richard Attias, CEO of the FII Institute said, […]

Prince Abdulaziz bin Salman speaks at the Future Investment Initiative conference in Riyadh on October 25

Riyadh was more ‘mature’ in spat with Washington, minister tells FII

Saudi Arabia decided to be the “maturer guys” in a spat with the United States over oil supplies, the kingdom’s energy minister Prince Abdulaziz bin Salman said on Tuesday. Prince Abdulaziz made the comment during his speech to the kingdom’s Future Investment Initiative (FII) event, which has drawn top executives from the US and elsewhere. […]