Today: 3 July 2025
26 October 2022
1 min read

Saudi signs 6 MoUs on FII conference Day 1

The deals will also help investors launch new initiatives, bring job opportunities, and open regional offices in the kingdom…reports Asian Lite News

The Saudi Arabian Investment Ministry signed six Memorandums of Understanding (MoUs) on Tuesday at the annual Future Investment Initiative (FII) conference, the Saudi Press Agency (SPA) reported.

Covering energy, quality of life, defence industries, transportation, biotechnology and finance, the MoUs aim to improve capabilities and skills in the six sectors, address their major challenges, and benefit from best international practices, the SPA report said.

The deals will also help investors launch new initiatives, bring job opportunities, and open regional offices in the kingdom, it added.

More agreements and new investment deals are expected to be announced during the three-day event.

The 6th annual FII conference, held under the theme “Investing in Humanity: Enabling a New Global Order,” kicked off in Riyadh on Tuesday, gathering 6,000 policymakers, investors and scholars from across the globe. About 500 Saudi or foreign speakers from different sectors were expected to share their insights at the conference.

Speaking at the conference on Tuesday, Saudi Minister of Investment Khalid bin Abdulaziz Al-Falih warned of uncertainty of the global economy in 2023 because of high inflation and low purchasing power, noting trade policies have become unpredictable due to many factors such as high energy prices and climate change.

Placing the transformations in trade and supply chains in the context of globalization, Al-Falih said there are many opportunities at the level of technology and investment in the new global order.

Day two of the Future Investment Initiative (FII) event in Riyadh will again gather more than 6,000 participants – from policymakers, investors, entrepreneurs to young leaders – for discussions on topics ranging from geoeconomics to gaming, the Arab News reported.

During Tuesday’s sessions, delegates explored issues such as supply-chain disruption, the growing demand for travel since the lifting of pandemic restrictions, e-commerce, cybercrime, and the widespread problem of rising inflation.

ALSO READ: UAE ministers value privileged relations with Egypt

Previous Story

Rishi’s Move To Reinstall Suella Triggers Chaos

Next Story

UAE to unveil new climate initiatives during COP27

Latest from -Top News

India Outpaces Peers in Morgan Stanley Outlook

Global investment firm reaffirms India’s status as top-performing economy in latest growth outlook…reports Asian Lite News India is set to retain its position as the fastest-growing economy among nations tracked by Morgan

US Presses Hamas on Ceasefire Deal

The new proposal seeks to address some of Hamas’ concerns, and Israeli hostages will be released in exchange for Palestinian prisoners during the ceasefire….reports Asian Lite News US President Donald Trump has

Trump Ends Syria Sanctions

Syria has been designated a State Sponsor of Terrorism by the United States since December 1979…reports Asian Lite News US President Donald Trump signed an executive order terminating Syria sanctions, according to

India’s Growth Defies West Asia Tensions

The deepening crisis in West Asia, particularly between Israel and Iran, has had little to no visible impact on India’s economic trajectory or its export performance….reports Asian Lite News The limited trade
Go toTop

Don't Miss

UAE-Saudi non-oil foreign trade sees sharp growth

From 2012 to 2021, Saudi Arabia was the UAE’s fourth

Syrian President in Jeddah to attend Arab League Summit

The visit, the first since the beginning of the ongoing