The Future Investment Initiative (FII) PRIORITY Summit Hong Kong kicked off on December 7, bringing together global investors, innovators, and policymakers to tackle pressing issues such as technology, climate change, and economic threats. Investors and leaders from Asia and around the world converged in Hong Kong for the international summit, emphasising 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 FII Institute, introduced the inaugural Asia FII PRIORITY summit. During a panel discussion, HE Khalid A Al-Falih, Saudi Arabia’s Minister of Investment, noted that the Global South is playing a significant role in turbocharging the global economy, driven by demographics and economic growth.
John Lee, Chief Executive of the Hong Kong Special Administrative Region, welcomed the FII Institute to Hong Kong, emphasising the city’s role as a ‘super value adder’ for economies, cultures, and peoples from the east and west, thanks to 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 on December 7 and 8, 2023. Nicolas Aguzin, CEO of HKEX, highlighted the dramatic changes in the geopolitical landscape, emphasising the shift of power eastwards and the rising importance of local exchanges.
During a panel discussion on digitalisation, Richard Li, Chairman of Pacific Century Group, highlighted how technology is democratising financial services, making tailored financial products accessible to individuals across income levels. The historic moment of market opening was marked by a traditional gong striking ceremony, attended by prominent figures including HKEX Chairman Laura M Cha, Hong Kong Chief Executive John Lee, and FII Institute’s Chairman HE Yasir Al-Rumayyan and CEO Richard Attias.
The summit, themed ‘Megatrends Shaping Humanity,’ is addressing the implications of Asia’s rise as a technological, economic, and geopolitical power, advances in AI, and the profound changes to life. Nicholas Ho, Commissioner for Belt & Road, outlined his vision to strengthen Hong Kong as the regional headquarters for MENA region business.
Laura M Cha highlighted the untapped capital in Asia and the Middle East, emphasising the potential for two-way traffic in terms of capital and commerce. The FII Institute conducts ongoing research, shaping its policy agenda based on global priorities. This year’s research sampled 50,000 people from 23 countries, revealing a 20% drop in global satisfaction levels and discontent across issues such as the cost of living, loneliness, technology, and climate concerns.
Speakers at the summit addressed the rise and regulation of AI, emphasising the need for locally relevant datasets to preserve local heritage. Solina Chau, Co-founder of Horizons Ventures, discussed the importance of curious minds and counterfactual thinking to avoid biases and bad policies. She also highlighted the need for gender equality in finance.
BOC International signed a strategic cooperation agreement with SPIC International Finance (Hong Kong) Company Ltd. at the summit, witnessed by Paul Chan, Financial Secretary of Hong Kong SAR. The FII Institute showcased two Hong Kong-based grassroots initiatives focused on sustainability—Redress, aiming to accelerate the change to a circular fashion industry, and Farm the City, which builds and manages urban farms to create sources of nutritious and organic food.
