The Future Investment Initiative conference commenced in Riyadh on Tuesday, and it has garnered attention from both global and local investors. These investors stress the importance of seizing available opportunities to advance international alliances and formulate strategies that will shape the economy of tomorrow.
Eric Fang, the CEO of Skytower, emphasized in an interview with Asharq Al-Awsat that the Future Investment Initiative is set to focus on the impact of investment on humanity. The program is designed to facilitate interaction among investors, allowing them to recalibrate their companies and the global economy. The aim is to devise new strategies capable of navigating the challenges and opportunities presented in this new era.
Fang stressed the significance of identifying new markets and expanding the horizons of economic growth while adhering to environmental, social, and governance standards. He underscored the importance of green development, spanning infrastructure, industry, manufacturing, supply chains, and natural mineral resources. Such development must be underpinned by robust governance to yield a positive impact on humanity.
One of the conference’s recommendations for addressing economic, investment, and trade challenges is the creation of a platform for showcasing ways to reduce carbon pollution. This involves re-engineering pollution stemming from manufacturing, transportation, power generation, and construction processes.
Fang also noted the value of hydrogen as a commodity, but its use requires special processing due to flammability. Ammonia, which comprises two hydrogen atoms and three nitrogen atoms, can be considered a non-flammable hydrogen carrier. It can be converted into hydrogen at the point of combustion.
In this context, he revealed a collaboration between Skytower and its local partners, such as King Abdullah Economic City, to establish a hydrogen industry complex. This complex aims to manage various hydrogen and ammonia technologies and modern manufacturing processes, aligning with Saudi Arabia’s push to advance artificial intelligence and robotics.
Chairman of the Saudi Excellence Holding Company, Abdullah bin Zaid Al-Meleihi, highlighted the global opportunities presented by the seventh edition of the conference. He anticipates it will attract investments from Saudi Arabia, the United States, and China.
Al-Meleihi, who is the Saudi partner in Skytower Investment Company, which represents the Saudi-American-Chinese green energy alliance, pointed out that Saudi Arabia’s rapid development serves as a global benchmark for progress and a model for future development plans. He emphasized that through this partnership, they can utilize their zero-carbon standards to shape recommendations for future industry standards in the Kingdom, working alongside the Future Investment Initiative.