A major Saudi investment conference is set to be postponed, three sources briefed on the matter told AFP on Monday, as the kingdom comes under repeated attacks from Yemen’s Iran-backed Houthis.
Saudi Arabia’s annual Future Investment Initiative (FII) conference, nicknamed “Davos in the desert” and usually drawing foreign leaders and business titans, was scheduled for Riyadh from 26 to 29 October.
One source said the event “won’t happen on time” and that organisers “won’t announce a new date soon”.
A second source, who confirmed the event would be postponed, added: “Who would be willing to risk flying to Riyadh these days?”
If officially confirmed, the postponement would deal a blow to the kingdom’s ambitions to draw foreign capital, diversify its oil-reliant economy and push its reform agenda.