Saudi Arabia to hold delayed FII in October 2027

Saudi Arabia plans ​to hold the next edition of ‌its ​flagship FII investment conference in October 2027, state television said on Thursday. The Future Investment Initiative, dubbed "Davos in the Desert", ‌had been scheduled for October 26 to 29 in Riyadh this year but was postponed after repeated Houthi strikes on the Saudi capital's airport killed more than a ‌dozen people.

The conference, which was set to mark its 10th edition this year, ‌has become a fixture on the calendar for some of the world's leading financiers and executives. Organisers now plan to hold the event from October 25 to 28 next year, state television ⁠announced.

Saudi Arabia, ​the world's largest ⁠oil exporter, has been under intensified attack from Yemen's Iran-aligned Houthi militia in recent weeks, in what ⁠has become another volatile front in the US-Israeli war on Iran. One source familiar with the ​matter said it was surprising that the conference would not be rescheduled ⁠for the spring, noting that after being postponed because of the global pandemic in 2020, it was ⁠eventually ​held in January 2021.

A second source said organisers opted for October to avoid setting a spring date that might have to be postponed again if the ⁠conflict persists. The state-backed event showcases Saudi Arabia's ambitious investment plans as it seeks to ⁠attract the ⁠billions of dollars needed to diversify its economy away from oil and into sectors such as tourism, sport and technology.