High-profile initiatives catapult Saudi Arabia onto the global investment scene. Record-breaking projects announced by the Saudi Crown Prince, Sir Richard Branson and Japan’s Softbank make an impact.
Top figures from the investment scene were present in Saudi Arabia’s first investment event of its kind in the Kingdom: the Future Investment Initiative.
The three-day event began with the announcement that Saudi Arabia would soon build a 26,500 square kilometer eco-friendly megacity (larger than Fiji) named Neom, which will also feature a “separate regulatory framework” from the rest of the Kingdom.
Richard Branson’s announcement of building a space center turned heads, as the British entrepreneur demonstrated how Virgin Galactic solutions could be applied to daily life. He added, “three years ago, we wouldn’t be standing here. We’re very proud to partner with Saudi Arabia.”
Saudi Crown Prince Mohammad bin Salman, who spoke on the FII’s opening day, promised a return to more moderate Islam, which was met with vigorous applause by the audience.