Saudi Arabia Postpones FII Conference Amid Houthi Threats
Saudi Arabia delays major investment conference due to ongoing Houthi attacks on airports and cities.
2 min read
Saudi Arabia has postponed its annual Future Investment Initiative (FII) conference, originally scheduled for October 26-29, to an unspecified date in 2027. The decision comes amid a surge in attacks by Iran-backed Houthi rebels in Yemen, which have targeted Saudi cities and airports, including a deadly strike on King Khalid International Airport in Riyadh.
Security Concerns Prompt Rescheduling
The organizers of FII, which is often referred to as ‘Davos in the Desert’ due to its global economic focus, cited a ‘deep commitment to partners, members, speakers, and delegates’ as the reason for the delay. They emphasized the need to ensure the event’s ‘full scale, extraordinary quality, and unforgettable impact.’ The postponement was announced shortly after King Khalid International Airport announced flight restrictions due to the ongoing threat.
Global Business Leaders Affected
The conference, launched in 2017 by the Saudi sovereign wealth fund, was expected to feature some of the world’s top business and financial leaders, including Jamie Dimon of JPMorgan Chase, David Solomon of Goldman Sachs, and Larry Fink of BlackRock. Some attendees had even planned to fly to Bahrain and drive to Riyadh to avoid the Houthi threat.
Regional Security Concerns
Qatar and the UAE had already canceled or rescheduled events earlier this year due to Iranian missile and drone attacks. However, Saudi Arabia remained relatively safe until September when hostilities with the Houthis escalated. The Houthi group has warned airlines about the safety of flying into Saudi Arabia, citing the recent attacks.
Government and Business Response
Saudi authorities have advised government workers and private sector employees in Riyadh to work from home due to the ongoing threat. Reuters reported that some major banks and private-equity firms have privately raised safety concerns about attending the FII conference. The organizers considered allowing executives to participate remotely before deciding to postpone the event.
Escalating Tensions
The Houthis claimed more attacks against Saudi airports and energy facilities, including another strike on King Khalid International Airport. Meanwhile, the Saudi military reported intercepting several drones launched at Riyadh over the weekend. The airport has now restricted air travel and canceled its use as an emergency landing site.
Source: Breitbart
