FII Summit: Saudi Arabia Sees Expanding Investments Amid Regional Tensions

The eighth annual Future Investment Initiative (FII) summit has cemented its role as a key gathering for global financial leaders. Among the high-profile speakers on Wednesday was former U.S. Treasury Secretary Steve Mnuchin, joined by several Republicans and former officials from the Trump administration. The summit, hosted in Riyadh, concludes on Thursday.

During the event, Saudi Arabia's Public Investment Fund (PIF) announced plans to serve as an anchor investor in Brookfield’s new $2 billion private equity fund, which focuses on the Middle East. In addition, PIF-owned Riyadh Air revealed an order for 60 Airbus A321 jets, expanding its fleet as part of Saudi Arabia's economic transformation goals.

The summit also highlighted the kingdom's expanding mining sector, a pillar of the Vision 2030 strategy to reduce reliance on oil. The CEO of Saudi mining giant Ma'aden confirmed ongoing advanced talks for a stake in a Zambian copper mine, with a deal anticipated by year’s end.

While not officially on the summit agenda, the ongoing conflict involving Israel, Gaza, and Lebanon dominated conversations as investors expressed concerns about the potential impact on regional stability. Saudi Finance Minister Mohammed Al-Jadaan addressed these worries, underscoring Saudi Arabia’s role as a secure investment hub amid regional turbulence. “This is one of the brightest spots in the world in terms of what investors look for,” he emphasized.

As the summit wraps up, the announcements and discussions reflect Saudi Arabia’s robust commitment to economic diversification and resilience in the face of regional challenges.