Postponement of the Davos of the Desert Reveals the Cost of the Escalation on Saudi Arabia s Economic Ambitions

The decision to postpone the Saudi Future Investment Initiative conference to the year 2027, to the rhythm of the missile and drone attacks, represents a blow to Riyadh’s efforts to market itself as a global center for business and investment, and places its plans to diversify the economy within Vision 2030 before a test that transcends financial calculations to security stability and the Kingdom’s international image.
Exclusive — Al-Khabar Al-Yemeni:
The “New York Times” newspaper reported on Monday that the organizers of the conference, known as the “Davos of the Desert,” informed the participants of the postponement of its session scheduled for the 26th of this current October, after they discussed the options of holding it via the internet, before they decided to postpone it entirely.
The decision came after a number of the invitees canceled their attendance plans, while others changed their travel routes due to the security fears and the flight disruptions.
Read also:
A Main Platform for Vision 2030:
According to the newspaper, “the conference does not represent merely an annual gathering of businessmen and investors; rather, it constitutes one of the most prominent international platforms on which Saudi Arabia relies to promote Vision 2030, aimed at reducing dependence on oil and expanding the role of the tourism, sports, technology, and other sectors in the economy.”
By attracting the leaders of sovereign funds and the heads of banks, financial institutions, and major international companies, Riyadh seeks to open direct channels with international capital, market its major projects, and build financing and technical partnerships that support the economic transformation plans.
The wide participation in the conference acquires an importance that transcends the value of the deals that may be announced during it; as it enables Saudi Arabia to present itself as a destination capable of hosting major investors