Fink calls for cooperation between public and private sectors at the Future Investment Initiative

With the involvement of several CEOs, investors, and global decision-makers, the fifth edition of the Future Investment Initiative was launched in Riyadh today, Tuesday, under the title “Investing in Humanity.”

The initiative includes interactive summits on investing in education, metaverses, and environmental, social, and institutional governance norms over three days, from October 26 to 28, 2021.

It is noteworthy that the Future Investment Initiative, in its fifth edition, brings together leaders of countries, companies, policymakers, investors, and innovators from all over the world.

Larry Fink, CEO of BlackRock, the world’s largest asset manager, warned on Tuesday that the possibilities of oil reaching $100 a barrel are high, blaming the price spike on short-term policies.

Fink, speaking at the Saudi Future Investment Initiative conference, called for greater coordination between the public and private sectors to address global issues like climate change.

He pointed out that two-thirds of the world’s economy depends on (managed) assets, and we should hire people who can manage capital more responsibly.

He urged for a rethinking of the role of the International Monetary Fund and the World Bank, pointing out that the world is grappling with a fundamental issue: the private sector’s domination over the business. He emphasized the importance of focusing on long-term investment.

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