Saudi Arabia Cancels In-Person Investor Summit Amid Security Fears
Houthi missile attacks prompt shift to online format for Future Investment Initiative.
Saudi Arabia has opted against hosting its premier international investment conference in person next week due to security concerns stemming from missile attacks by Iran-backed Houthi rebels. The Future Investment Initiative (FII), originally scheduled to begin on October 26 in Riyadh, may be postponed or moved to an entirely online format.
Organizers officially abandoned plans for an in-person gathering on Monday, with a final decision regarding a potential delay expected by Tuesday. Prior to this announcement, bankers from major institutions such as JPMorgan Chase and Citigroup had already begun canceling meetings, citing security concerns. Teams representing CEOs Jamie Dimon and Jane Fraser were reportedly debating their participation.
The disruption poses an additional challenge to Crown Prince Mohammed bin Salman's initiatives aimed at attracting foreign capital, as the escalating conflict with the Houthis places further strain on Saudi Arabia's financial resources.