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Saudi Arabia transitioning to green circular carbon economy:FII

By Mike Gu in Hong Kong | chinadaily.com.cn | Updated: 2024-10-29 19:12

Yasir Al-Rumayyan, chairman of the Future Investment Initiative Institute, makes opening remarks at the 8th Future Investment Initiative (FII) on Oct 29 in Riyadh, capital of Saudi Arabia. SCREEN GRAB / CHINA DAILY

Al-Rumayyan emphasized that the transition to a clean economy will require long-term efforts, with the goal of empowering future generations. However, he acknowledged that rising living costs remain a significant concern. He encouraged leaders and global investors to seize the opportunity to contribute to a sustainable economy that benefits all of humanity.

When asked about Hong Kong's distinctive advantages in a panel discussion during the FCC, Laura Cha, senior advisor to the board, Hong Kong Exchanges and Clearing Limited (HKEX), said that under the "one country, two systems" principle, HKSAR has played an increasingly important role. Hong Kong offers a simple tax system that has attracted global investors. Hong Kong serves as a crucial financing hub, supporting the development of cutting-edge technologies of the mainland, such as mobile payment that is leading the way across the world.

Cha concluded that support from the motherland coupled with a favourable business environment and Hong Kong's role in financing technological innovations positioned the city as a world-class hub for global growth.

The 8th FII promises to be a melting pot of innovative ideas, bringing together global leaders, entrepreneurs, political leaders, media and decision-makers in finance, AI, sustainability, energy, geoeconomics, space and beyond. By focusing on the theme of "Infinite Horizons", this year's conference challenges attendees to think beyond conventional limits and explore investment opportunities that can bridge current challenges with future possibilities.

A variety of external engagements is scheduled throughout the week for FII Institute members, invited delegates, and strategic partners. Investment Day of the 8th FII will take place on Oct 31. This event is exclusively curated for the world's most influential venture capitalists, institutional investors, innovative startups, accelerators and founder-focused organizations.

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