Wall Street delegations ignore boycott calls and head to the “Saudi Future Investment” forum

Saudi Arabia’s capital Riyadh will witness on Tuesday the launch of the sixth edition of the Future Investment Initiative under the slogan “Investing in Humanity – Enabling a New World Order”.


The Initiative will witness the participation of a group of global decision-makers and CEOs, to develop sustainable solutions to the economic and humanitarian challenges currently facing the world.


The Future Investment Initiative is affiliated with the Saudi Public Investment Fund (PIF) (the Saudi Sovereign Fund).


The initiative is called “Davos in the Desert”, this initiative is considered a front for the new Saudi Arabia in which economists and international executives discuss investment challenges and promising prospects every year.


The initiative which will be hosted by the King Abdulaziz Convention Center will attract 6000 participants, while the number of speakers will reach 500 speakers in 180 sessions to be held simultaneously.


Riyadh receives high-ranking delegations and personalities from major international and US companies in particular, despite the tension in the relationship that afflicted the two countries against the background of the recent “OPEC +” decision, in which President Biden threatened to take measures against Saudi Arabia, but the senior “Wall Street” does not seem they share Biden’s position on the Gulf state.


Jamie Dimon, CEO of JPMorgan, is preparing to attend, as well as David Solomon of Goldman Sachs Group, as the two financial majors from New York.


From Europe, HSBC Holdings CEO Noel Quinn and Societe Generale President Frederic O’Dea will also be in attendance, as will Standard Chartered Plc CEO Bill Winters, although he will miss the COP27 summit next month in Egypt.


As for China, the names of the participants are not yet clear, but a Chinese delegation consisting of 80 CEOs will be in the Saudi capital at the time of the event.


The Future Investment Initiative, the largest economic grouping in the Middle East, was launched in 2017, as a window to the world for the world’s largest oil exporter, as it tries to diversify its economy away from black gold under the leadership of Crown Prince Mohammed bin Salman.

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