Some participants and speakers had expected to enter Saudi Arabia via Bahrain, followed by a five-hour drive to Riyadh. They were preparing for the Future Investment Initiative, which had been scheduled in the Saudi capital from 26 October to 29 October.
Saudi Arabia has postponed its annual investor conference until 2027. The decision follows recent weeks in which Iran-backed Houthi militants have stepped up missile and drone attacks on the kingdom.
The Houthis struck King Khalid International Airport in Riyadh on 10 October. At least 12 people were killed and more than 300 were injured.
Saudi Arabia's sovereign wealth fund established the Future Investment Initiative in 2017. At the first conference that year, Crown Prince Mohammed bin Salman unveiled the NEOM megaproject.
The October conference had named five senior financial figures among its speakers: Jamie Dimon, chief executive of JPMorgan Chase; David Solomon, chief executive of Goldman Sachs; Stephen Schwarzman, chief executive of Blackstone; Larry Fink, chief executive of BlackRock; and Jane Fraser, chief executive of Citigroup.
The delay removes a planned gathering where Saudi Arabia could present its development projects and economic ambitions to global investors. Conference organisers said they would communicate new dates for the event soon.
Comments (0)