Saudi Arabia has delayed its flagship Future Investment Initiative (FII) conference to 2027 because of increased Houthi attacks and security concerns in the kingdom, organisers said.
The 10th edition of the event, widely called “Davos in the Desert”, was set to be held in Riyadh from Oct. 26-29. “A new date will be announced very soon,” said organisers in a statement on Monday.
The decision comes as Yemen’s Iran-aligned Houthi rebels intensify attacks on Saudi infrastructure, including airports and energy facilities, amid the widening regional conflict. The attacks have caused alarm among international investors and business leaders scheduled to attend the event.
The event, held each year, serves as a vital exhibition for Saudi Arabia to entice overseas investments and market Crown Prince Mohammed bin Salman’s Vision 2030 economic diversification plan, which seeks to end the country’s dependence on oil.
The decision to delay had already been made, FII Institute chief executive Maha bint Mishari Al Saud said, in the spirit of respecting participants and the integrity of the event.
“We want to make sure our landmark tenth edition will be of the grand size, exceptional quality and impact that our community has come to know and expect from us,” she said.
The delay comes on top of other disruptions to business events across the Gulf as hostilities in the region ratchet up. Some Saudi authorities in Riyadh have also reportedly asked their employees to stay at home for security reasons, AFP reported.
