Saudi Arabia has postponed its flagship Future Investment Initiative (FII) conference until next year amid ongoing deadly strikes by Iran-backed Houthi forces against the kingdom.
The state-backed annual gathering was scheduled to take place from 26 to 29 October. An announcement on the conference’s official website on Tuesday confirmed the postponement, adding that the revised dates for next year would be announced “very soon”,reports Al Jazeera.
Dr Maha Bint Mishari Al Saud, Chief Executive Officer of the FII Institute, said the decision “comes from a deep commitment to our partners, members, speakers and delegates”.
She added that, for its landmark 10th edition, organisers wanted to ensure the summit delivered the “full scale, extraordinary quality, and unforgettable impact that our community has come to expect and truly deserves”.
Informally known as “Davos in the Desert”, a reference to the World Economic Forum’s annual meeting in Switzerland, the summit showcases Saudi Arabia’s ambitious investment strategy. The kingdom is seeking billions of dollars in foreign investment to finance its economic transformation away from hydrocarbons and towards sectors such as tourism, sport and technology.
Speakers listed on the official FII website included Ruth Porat, President and Chief Information Officer of Alphabet and Google; David Solomon, Chairman and Chief Executive Officer of Goldman Sachs Group; and Laurence Fink, Chairman and Chief Executive Officer of BlackRock.
The postponement comes amid escalating conflict between a Saudi-led coalition supporting Yemen’s internationally recognised government and the Iran-aligned Houthis, also known as Ansar Allah.
In recent weeks, Houthi strikes have targeted military, energy and civilian sites across Saudi Arabia, including Riyadh’s international airport. The attacks have killed at least 18 people and injured hundreds.
In response to repeated attacks on the capital, government agencies in Riyadh have instructed staff to work remotely, according to a civil servant and two consultants who spoke to the AFP news agency.
Employees at the 99-storey Kingdom Centre in downtown Riyadh, which houses the regional office of the International Monetary Fund, have also been asked to stay away until further notice.
On Sunday, a government agency employee received an official notice stating: “It has been decided to implement remote work from Monday to Thursday this week.”
The message added: “We ask everyone to continue their activities as normal.”
Corporations based in the King Abdullah Financial District, which hosts major United States firms, have also directed their employees to work from home.
