After senior officials of several Western countries, multilaterals and multinationals decided not to participate in "Future Investment Initiative (FII)," conference to be held from October 23-25 in Riyadh, Saudi Arabia, Prime Minister, Imran Khan has decided to attend the conference. According to Foreign Office spokesperson Dr Mohammad Faisal, Prime Minister Khan will visit Riyadh on October 23, on the special invitation of King Salman bin Abdel Aziz, to participate in the "FII," conference.
The conference nicknamed 'Davos in the desert' in which Saudi Arabia was to make a pitch for foreign investment in the Kingdom projected at over $500 billion has witnessed a spate of regrets after the disappearance of journalist Jamal Khashoggi last seen entering the Saudi Consulate in Turkey.
More than 30 delegates have already dropped out since Saudi journalist Jamal Khashoggi disappeared. Among the corporate giants pulling out are the likes of Google, Uber, JPMorgan Chase, Credit Suisse, HSBC, CNN, The New York Times and Financial Times.
However the Foreign Office spokesman stated that Saudi Arabia will host leading businesspersons, investors, corporate giants, representatives of hi-tech industry and major media outlets at one platform.
"Prime Minister Imran Khan's participation on the first day of the conference is aimed at projecting Pakistan's economic and investment potential and the Prime Minister's vision of the country in the five years to come," he said, adding that the moot provides an opportunity to interact with important business leaders who are interested in investing in Pakistan.
He said that Prime Minister will also call on King Salman and meet Crown Prince Muhammad Bin Salman, adding that matters of mutual interest will be discussed with the Saudi leadership.
"Future Investment Initiative" is now an annual feature in Saudi Arabia," he said, adding that the first FII was held last year, with participation of 3,800 from 90 countries.
"This year's conference is also likely to attract participation from a large number of leading figures. The Prime Minister's participation in the conference signifies our solidarity with the Kingdom in its efforts to become the emerging hub of international business and investment," he further contended.
Talking to Business Recorder, noted economist Dr Hafeez Pasha flayed the Prime Minister's decision to go to Saudi Arabia for the second time within a short span of one month.
He said that Saudi Arabia at present is facing a lot of criticism following the disappearance of the journalist. "You [PM] have recently been to Saudi Arabia and again you want to go to the Kingdom, which is in no way appropriate. As a citizen of Pakistan, I feel ashamed, as the Prime Minister must be going there with a begging bowl," he added.
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