Riyadh hosts world leaders and business elites for the Future Investment Initiative, as the kingdom seeks backing for its AI ambitions and $500bn megacity plans.
Saudi Arabia opened its flagship investment conference on Tuesday October 28, 2025, drawing Heads of State, Wall Street Executives, and Global Investors to Riyadh as the kingdom seeks fresh momentum for its ambitious economic transformation and artificial intelligence goals.
The event, known as the Future Investment Initiative (FII) — often dubbed “Davos in the Desert” — convened more than 20 Heads of State and hundreds of Top Executives at the King Abdulaziz International Conference Center. The gathering comes as Saudi Arabia pushes to diversify its economy away from oil and reinforce its status as a regional hub for innovation and finance.
Among the high-profile guests were Chinese Vice President Han Zheng, several cabinet ministers, and more than 150 business leaders. From the United States, Donald Trump Jr., along with the chief executives of Goldman Sachs, JP Morgan, and BlackRock, joined the discussions, underscoring the growing strength of U.S.–Saudi commercial ties.
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In his opening remarks, Yasir Al-Rumayyan, Governor of the Kingdom’s Sovereign Wealth Fund — the Public Investment Fund (PIF) — said foreign investment rose by 24 percent last year to $31.7 billion. “We have taken Saudi Arabia to the world, and now the world is coming to Saudi Arabia,” he told delegates.
This ninth edition of FII comes against a backdrop of Gulf economic resilience and a ceasefire in Gaza, though uncertainty lingers over some of the kingdom’s most ambitious ventures. Flagship “gigaprojects” such as NEOM, a $500 billion futuristic city on the Red Sea coast, have reportedly faced design revisions, leadership changes, and delays amid tighter fiscal conditions and lower oil revenue.
Analysts say the conference is vital for sustaining investor confidence. “FII is an annual opportunity to drum up foreign investment to fund Saudi Arabia’s challenging transformation agenda,” said Robert Mogielnicki of the Arab Gulf States Institute in Washington.
Experts also highlight Riyadh’s bid to position itself as a serious player in artificial intelligence. Deals involving Humain, a Saudi-owned AI firm, and several global technology companies are expected to be announced during the event.
The gathering precedes Crown Prince Mohammed bin Salman’s planned visit to the United States, where he is expected to meet President Donald Trump to deepen investment and technology cooperation — marking another step in Saudi Arabia’s evolving global economic strategy.