EXCLUSIVE — Saudi Arabia to let executives attend FII conference remotely after attacks, sources say
(Adds attack on Aramco on Tuesday in paragraph 5, and broader context about conferences in paragraphs 11 and 12) By Timour Azhari and Federico Maccioni RIYADH, Oct 13 (Reuters) — Saudi Arabia plans to make its flagship investment conference a hybrid event, giving executives the option to tune in remotely, after deadly weekend attacks on Riyadh airport prompted a rethink of travel to the kingdom, two people familiar with the matter said. Some participants were still expected to fly in and could land at airstrips outside Riyadh, or even in neighbouring Gulf states, and then drive to the capital to attend the Future Investment Initiative scheduled for later this month, one of the people said. The Saudi government media office did not immediately respond to a request for comment. Earlier this month, organisers said the event would go ahead despite missile and drone attacks in the kingdom, which have struck key targets. An administrative building at the headquarters of state-owned oil company Saudi Aramco in the eastern city of Dhahran was attacked on Tuesday evening, the Energy Ministry said, adding that there were no injuries or deaths. Asked for comment, an FII media representative p
(Adds attack on Aramco on Tuesday in paragraph 5, and broader context about conferences in paragraphs 11 and 12) By Timour Azhari and Federico Maccioni RIYADH, Oct 13 (Reuters) — Saudi Arabia plans to make its flagship investment conference a hybrid event, giving executives the option to tune in remotely, after deadly weekend attacks on Riyadh airport prompted a rethink of travel to the kingdom, two people familiar with the matter said.
Some participants were still expected to fly in and could land at airstrips outside Riyadh, or even in neighbouring Gulf states, and then drive to the capital to attend the Future Investment Initiative scheduled for later this month, one of the people said. The Saudi government media office did not immediately respond to a request for comment. Earlier this month, organisers said the event would go ahead despite missile and drone attacks in the kingdom, which have struck key targets.
An administrative building at the headquarters of state-owned oil company Saudi Aramco in the eastern city of Dhahran was attacked on Tuesday evening, the Energy Ministry said, adding that there were no injuries or deaths. Asked for comment, an FII media representative pointed Reuters to a joint statement from the CEO and the chairman of the FII Institute sent before Saturday's attacks. "As we prepare to welcome thousands of delegates to Riyadh for the exceptional 10th edition of the Future Investment Initiative, their safety and well-being remain our highest priority," CEO Maha Al Saud and Richard Attias, chairman of the executive committee, said.
'Davos In The Desert' On Monday, major oil bosses dropped out of an international conference in Riyadh which continued in person as planned at a convention centre 10 km (6 miles) from Riyadh airport. The move to a hybrid model for FII shows how Saudi Arabia is trying to maintain its push to attract global investment despite an escalating war with the Houthis that has challenged its efforts to turn Riyadh into a hub for global events. The kingdom has used the FII to showcase its plans to diversify its economy from oil and attract foreign investments.
The typical attendance of a large number of world leaders, corporate chieftains and financiers has led the event to be nicknamed "Davos in the desert," in a nod to the World Economic Forum's annual meeting in Switzerland. September to December is usually the Gulf's busiest conference season, with cooler weather drawing executives, policymakers and investors from overseas to a run of high-profile events. But the conflict has cast a shadow over this year's calendar.
The UAE is due to host the ADIPEC energy conference in Abu Dhabi in early November and Abu Dhabi Finance Week in mid-December, while Qatar's invitation-only Doha Forum, which has drawn heads of state and foreign ministers in past years, is scheduled for the first week of December. In Riyadh, organisers said on Monday that this year's Misk Global Forum, an annual youth-focused gathering set up by Crown Prince Mohammed bin Salman, would not go ahead, citing organisational and logistical challenges.
Global financial titans, including Goldman Sachs CEO and Chairman David Solomon, Standard Chartered CEO Bill Winters and Citi's CEO Jane Fraser, were scheduled to speak at the FII event, according to a draft programme on its website dated October 6. Citi and Goldman Sachs declined to comment on the executives' attendance, while Standard Chartered had no immediate comment. The FII event, in its 10th edition, is due to be held at the King Abdulaziz International Conference Centre, on the western edge of Riyadh. com @timourazhari; +96170191137 / +9647901917023)