The Saudi government has postponed its annual investment conference — known colloquially as “Davos in the Desert” — to next year, after the Iran-backed Houthi rebels carried out multiple deadly attacks on Saudi Arabia earlier this month.
Organizers at the Future Investment Initiative (FII) Institute postponed the 10th edition of the conference, which was set for Oct. 26-29 in the Saudi capital of Riyadh.
“This decision comes from a deep commitment to our partners, members, speakers, and delegates,” Dr. Maha bint Mishari Al Saud, the CEO of the FII Institute, said in a statement.
“Because this is our landmark tenth edition, we want to ensure it delivers the full scale, extraordinary quality, and unforgettable impact that our community has come to expect and truly deserves,” she added.
Al Saud, a member of the Saudi royal family, said her institute will announce “new dates” for the postponed conference “soon.”
The list of speakers for the event included Yasir Al-Rumayyan, the governor of the Public Investment Fund of Saudi Arabia; Meta President Dina Powell McCormick; JPMorgan Chase CEO Jamie Dimon; BlackRock CEO Larry Fink; and Goldman Sachs CEO David Solomon.
The conference’s “Davos in the Desert” moniker is a reference to the annual World Economic Forum’s annual gathering in Davos, Switzerland. It is part of Saudi Crown Prince Mohammed bin Salman’s push to transition his country’s economy away from oil and toward Western investment, tourism and sports.
The Houthis, who have fought a Saudi-led coalition in the decade-plus Yemeni civil war, recently ramped up their attacks on the kingdom.
A pair of Houthi attacks on King Khalid International Airport in Riyadh killed at least 13 people and injured at least 320 others, according to Saudi Arabia’s General Authority of Civil Aviation.
The Iran-backed rebel group also targeted King Fahd International Airport in Dammam, Saudi Arabia. The Houthis have stated that airports are legitimate targets in their conflict against the Middle Eastern nation.
President Trump said Friday that the Saudi government would be receptive to support of the Israeli government in its fight against the Houthis.
“Saudi Arabia is very happy to have Israel’s support and our support,” Trump told reporters at the White House.
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