- Houthis claimed attacks on Saudi energy, airport, military facilities.
- Saudi Arabia postponed its major investment conference until 2027.
- Postponement impacts kingdom’s efforts as global business hub.
Yemen’s Iran-backed Houthis said on Monday that they had carried out multiple attacks targeting Saudi Arabia’s energy, airport and military infrastructure, including an Aramco facility in Yanbu, the Shaybah oilfield, King Khalid International Airport in Riyadh and Abha airport, according to a Reuters report.
Saudi Arabia has not yet responded to the Houthi claims. The reported attacks come amid continuing security concerns in the kingdom, with air-raid alerts sounding in Riyadh on Monday night.
Against this backdrop, Saudi Arabia has postponed its flagship Future Investment Initiative (FII) conference until 2027. The decision is a setback to the kingdom’s efforts to establish itself as a global business hub and attract foreign capital to finance its multitrillion-dollar economic transformation.
Saudi Arabia’s Future Investment Initiative Postponed
The FII, which brings together prominent figures from the finance, energy and political sectors in Riyadh, will now take place in 2027, organisers said in a statement. They did not announce specific dates for the event.
The conference had been scheduled to begin on October 26. Organisers said the postponement was intended to ensure that the event’s 10th edition met expectations for its scale, quality and impact.
“This decision has been taken to ensure that our milestone tenth edition delivers the full scale, quality, and impact that our partners, members, speakers, and delegates expect,” the statement said.
Global Finance Leaders Were Expected To Attend
The annual gathering was expected to attract prominent business leaders, including Citigroup Chief Executive Officer Jane Fraser, Goldman Sachs Group’s David Solomon and BlackRock’s Larry Fink.
Organisers had been exploring contingency measures to keep the conference on schedule despite the evolving security situation. As recently as last week, they said they were preparing to welcome thousands of delegates to Riyadh.
However, the continuing security concerns have added uncertainty to preparations for the high-profile event. The postponement means the gathering will no longer take place on its originally scheduled October dates.
Blow To Saudi Arabia’s Economic Ambitions
The FII is a key platform for Crown Prince Mohammed bin Salman as he seeks to attract global financial institutions and investors to Saudi Arabia. The conference helps the kingdom present itself as an investment destination and promote opportunities linked to its economic transformation plans.
The postponement comes amid reports of repeated attacks on Saudi Arabia in recent days. Air-raid alerts sounded in Riyadh on Monday night, while strikes on the capital’s airport have reportedly killed more than a dozen people, disrupted flights and forced several events to be postponed or cancelled.
The delay therefore comes at a time when the kingdom is seeking to attract international business and capital while dealing with heightened security risks. Organisers have confirmed that the conference will move to 2027, although a new date has yet to be announced.
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