Saudi Arabia plans hybrid format for marquee FII conference after attacks --sources

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RIYADH — Saudi Arabia plans to make its flagship investment conference a hybrid event, letting executives tune in remotely after deadly weekend attacks on Riyadh airport prompted a rethink of travel to the kingdom, two people familiar with the matter said.

Some participants were still expected to fly in and could land at airstrips outside Riyadh, or even in neighbouring Gulf states, and then drive to the capital to attend the Future Investment Initiative scheduled for later this month, said one of the people.

The Saudi government media office did not immediately respond to a request for comment.

Earlier this month organisers said the event would go ahead despite missile attacks in the kingdom.

Asked for comment, an FII media representative pointed Reuters to a statement from the CEO and chairman of the FII Institute sent before Saturday's attacks.

"As we prepare to welcome thousands of delegates to Riyadh for the exceptional 10th edition of the Future Investment Initiative, their safety and well-being remain our highest priority," said CEO Maha Al Saud and Richard Attias, chairman of the executive committee.

'Davos in the desert'

Major oil bosses dropped out of an international conference on Monday and a hybrid model would allow for more participants to take part.

The move shows how Saudi Arabia is trying to maintain its push to attract global investment despite an escalating war with the Houthis that has challenged its efforts to turn Riyadh into a hub for global events. The kingdom has used the FII to showcase its plans to diversify its economy from oil and attract foreign investment.

The typical attendance of a large number of world leaders, corporate chieftains and financiers has led the event to be nicknamed "Davos in the desert," in a nod to the World Economic Forum's annual meeting in Switzerland.

Global financial titans, including Goldman Sachs GS.N CEO and Chairman David Solomon, Standard Chartered STAN.L CEO Bill Winters and Citi's CEO Jane Fraser, were scheduled to participate as speakers at the event, according to a draft programme on the FII website dated October 6.

Citi C.N and Goldman Sachs declined to comment on the executives' attendance, while Standard Chartered had no immediate comment.

The FII event, in its 10th edition, is due to be held at the King Abdulaziz International Conference Centre, on the western edge of Riyadh.