RIYADH, Saudi Arabia, Dec. 7, 2023 /PRNewswire/ — The Future Investment Initiative PRIORITY Summit Hong Kong today convenes global investors, innovators and policymakers to tackle technology, climate, and economy threats.
Investors and leaders from across Asia have gathered in Hong Kong with counterparts from around the world at an international summit to address global challenges, and the mobilisation of investment as a force for good.
His Excellency Yasir Al-Rumayyan, Governor of the Public Investment Fund of Saudi Arabia and Chairman of the Future Investment Initiative (FII) Institute introduced the inaugural Asia FII PRIORITY summit.
HE Khalid A. Al-Falih, Saudi Arabia’s Minister of Investment also attended the summit and participated in a panel discussion in which he observed that the Global South is turbocharging the global economy, driven by demographics and economic growth.
John Lee, Chief Executive, Hong Kong Special Administrative Region, welcomed the FII Institute to Hong Kong in the presence of Paul Chan, Financial Secretary, and Laura M Cha, Chairman of Hong Kong Exchanges and Clearing Limited (HKEX). John Lee delivered a special address to delegates in which he highlighted Hong Kong’s role as a ‘super value adder’ for economies, cultures, and peoples from east and west, made possible by the unique ‘one country, two systems’ principle.
The summit, held in partnership with Hong Kong Exchanges and Clearing Limited (HKEX), is taking place at HKEX Connect Hall today, Thursday 7 December and tomorrow, Friday 8 December 2023.
Nicolas Aguzin, CEO, HKEX noted the dramatic changes to the geopolitical landscape, with power shifting eastwards, and the rising importance of local exchanges and imperative for continuous innovation in financial markets.
During the set piece ‘board of changemakers’ panel, Richard Li, Chairman, Pacific Century Group observed how digitalisation is democratizing financial services, enabling even those with incomes of all levels to access tailored financial products.
A traditional gong striking ceremony signaled the historic moment the markets opened in the presence of HKEX Chairman, Laura M. Cha, Hong Kong Chief Executive, John Lee, and Hong Kong Financial Secretary Paul Chan alongside FII Institute’s Chairman HE Yasir Al-Rumayyan and CEO Richard Attias, witnessed by over 1,000 summit attendees and audiences the world over.
The summit, held under the theme ‘Megatrends Shaping Humanity’ is addressing the implications of the rise of Asia as a technological, economic and geopolitical power; advances of AI, and the profound changes to life as we know it; as well as increasing calls for humanity and empathy as anchors to economy and society in a fractured and uncertain world.
Nicholas Ho, Commissioner for Belt & Road, The Government of the Hong Kong Special Administrative Region described Hong Kong as a “true global hub” and outlined his vision to strengthen Hong Kong as the regional headquarter for MENA region business.
Laura M. Cha pointed out that of the top 15 sovereign wealth funds, five are in Asia and six in the Middle East. China has untapped capital in terms of personal saving of 30 trillion USD and the Middle East has similar potential because of the rise of Saudi and other GCC countries. “It’s going to be an amazing connection that has been underdeveloped in the past; now it is the time for two-way traffic in terms of capital and commerce.” she said.
The FII Institute carries out ongoing research to identify the issues that matters to citizens worldwide. This year’s polling sampled 50,000 people from 23 countries to identify humanity’s priorities. The findings are then used to shape FII’s policy agenda and programme of summits. For example, this year’s research has revealed a dramatic global drop of 20% in satisfaction levels, and discontent across a range of issues, including cost of living, loneliness, technology, and climate concerns.
On the rise and regulation of AI Eric Pulier, Founder & CEO, Vatom Corporation describe how AI models must be trained using locally relevant datasets that preserve local heritage if the AI future is to be universally human-centric.
Solina Chau, Co-founder, Horizons Ventures discussed the importance of curious minds and counterfactual thinking to avoid biases and bad policies in an ever-changing world. She also addressed the low number of women in finance and the need to continue to strive for equality and support each other.
At the summit BOC International signed a strategic cooperation agreement with SPIC International Finance (Hong Kong) Company Ltd. to further strengthen cooperation in green finance, bond investment and issuance, and international capital operations. This agreement was witnessed by Mr. Paul Chan, Financial Secretary of Hong Kong SAR, as the FII Institute continues to convene global entities at summits around the world to drive positive action on issues such as sustainability.
The FII institute showcased two Hong Kong-based grassroots initiatives focused on sustainability and local ecosystem. Redress is an environmental organization aiming to accelerate the change to a circular fashion industry. Farm the City builds and manages urban farms to transform underutilized areas to create sources of nutritious and organic food.
The FII PRIORITY Summit Hong Kong continues conversations held in Riyadh last month. It is part of an ongoing global programme of summits, to be held next in Miami (February), London (April), and Brazil (June).
Richard Attias, CEO of the Future Investment Initiative Institute said:
“Megatrends are reshaping our existence. The advancements in AI, automation, and blockchain are opening doors to futures we have yet to imagine. With the world changing and Asia in the driving seat we are discussing the global issues that matter to the 8 billion people who live on this planet, and focusing investor attention for policy action.”
About FII Institute
The Future Investment Initiative (FII) Institute is a global non-profit foundation driven by data with an investment arm and one agenda: Impact on Humanity. Global and inclusive, we foster great minds from around the world and turn ideas into real-world solutions in four critical areas: Artificial Intelligence (AI) & Robotics, Education, Healthcare and Sustainability.