Syria’s transitional president, Ahmed al-Sharaa, is scheduled to begin a working visit to Saudi Arabia on Tuesday, October 28, where he will meet Crown Prince Mohammed bin Salman and take part in the ninth edition of the Future Investment Initiative (FII), also known as “Davos in the Desert,” hosted in the Saudi capital, Riyadh.

The event’s nickname references the World Economic Forum’s annual meeting in the Swiss town of Davos each January, which brings together business leaders, policymakers, and academics to discuss global economic and political challenges and ways to address them.

The Presidential Media Directorate told the Syrian Arab News Agency (SANA) on Sunday, October 26, that the visit will include talks between President al-Sharaa and the Crown Prince on “ways to strengthen joint cooperation between the two brotherly countries,” especially in investment and economic cooperation, alongside discussions on regional and international developments of mutual concern.

President al-Sharaa is also slated to deliver an address during the conference, which convenes heads of state and global business figures, and to hold meetings with major investment firms and international financial institutions.

He will be accompanied by a high-level Syrian delegation of ministers, experts, and economic leaders. Some members of the delegation are traveling to Riyadh on Monday to prepare for the official visit, with meetings planned with leading investors and multinational companies to build partnerships across infrastructure, housing, energy, health, technology, and sustainable industries.

This year’s conference is held under the theme “The Key to Prosperity,” bringing together more than 8,000 participants and 650 speakers from around the world for 250 panel discussions exploring investment prospects in the economy and technology, and pathways for future development.

The conference opens on Monday, October 27, and runs for four days.

What is “Davos in the Desert”?

The Future Investment Initiative, often dubbed “Davos in the Desert” by analogy with the Davos forum in Switzerland, is a global investment conference launched by Saudi Crown Prince Mohammed bin Salman in 2017 to attract foreign investment and promote the Kingdom’s Vision 2030 to diversify an economy long reliant on oil.

The gathering draws investors, leaders, and chief executives from numerous countries to present and debate global investment opportunities and trends, foster economic development, and address its challenges.

At the inaugural edition, Saudi Arabia announced the launch of the “city of the future,” NEOM, one of Vision 2030’s flagship projects, envisioned as an autonomous economic zone with an announced value exceeding $500 billion.

Nibal Najmeh, General Manager of Banking Services at Standard Chartered Bank, wrote in a Facebook post that the FII is among the most prominent global economic conferences held annually in Saudi Arabia under the patronage of the Public Investment Fund (PIF), due to its weight and impact on the international economic landscape. He described it as a leading global platform that brings together government leaders, top investors, entrepreneurs, and innovators from around the world to anticipate the future of the global economy and identify promising investment opportunities across sectors.