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I was in the Saudi capital, Riyadh, last week for the ninth Future Investment Initiative Forum. The event brought together around 600 speakers who participated in 250 sessions, a testament to the city’s dynamism and the distinguished caliber of its guests, who were not confined to one place. They were not only present in the halls of the forum, but also in the restaurants, cafes, public spaces, and shopping centers. Despite most of the participants’ busy schedules, the fast changes taking place in Riyadh compelled them to explore the current events and observe the details of daily life, services, and Saudi social culture. These are not mere side details; they are vital for anyone seeking to invest in ��������, to build a broader, more comprehensive picture.

I was invited to dinner with a group of friends and Saudi figures with expertise and knowledge of economic and political affairs. Among us were several guests from the forum, including a senior official in the International Monetary Fund, who spoke about the pivotal role �������� plays in the Middle East today, and how it has become a hub for growth and development seekers.

With extensive connections and vast experience, the guest did not speak from an emotional standpoint or seek to flatter his Saudi audience. Instead, he articulated his vision based on observation and political analysis, citing clear examples of the Syrian Arab Republic, which, in its efforts to recover, return to the Arab fold, and resolve its issues with the US, chose ��������, recognizing Riyadh’s capacity to exert a positive influence on regional politics. And indeed, according to the guest, that is what transpired.

This account can be seen as indicative of the importance of the forum, years after its inception in 2017, and how today it has become a landmark in the Kingdom’s transformation, linking economy, politics and diplomacy, as well as security.

The deals concluded by the forum amounted to $60 billion, adding to more than $250 billion in agreements signed over the past nine years. These figures should not be viewed merely as financial indicators; rather, they embody a Saudi vision that treats investment as a tool to promote regional stability, expand influence through economic cooperation — not through brute force, warfare, and the coercion of Middle Eastern countries, as Israel does.

Within this political context, the FII forum emerged as an active diplomatic platform, using the economy as an effective tool to push the participants toward cooperation and integration, and to make bilateral and multilateral partnerships a safety net that mitigates the negative repercussions of wars and crises, while promoting a culture of dialogue in place of the confrontational logic that has burdened the region for decades.

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Hassan Al-Mustafa

In this context, Syrian President Ahmad Al-Sharaa took part in a panel discussion attended by Crown Prince Mohammed bin Salman, announcing that “the Kingdom has become an economic compass for investors, thanks to its vision and stability.” This is a clear sign of Damascus’ reintegration into regional economic diplomacy under Saudi auspices.

Another notable event coinciding with the forum was Syria’s official recognition of the state of Kosovo, during a trilateral meeting that brought together the crown prince, Al-Sharaa and Kosovo’s President Vjosa Osmani. This recognition, warmly welcomed by Riyadh, carried political significance extending beyond bilateral relations between Damascus and Pristina. It reflected the Kingdom’s use of its economic and diplomatic tools to construct a network of interests stretching from the Middle East to the Balkans, anchored in the principle of “stability through development.” This is underscored by Osmani’s statement that “Kosovo will not be a new arena of conflict, but a partner in peace and investment.”

Anyone who followed the discussions at the FII forum, along with the parallel dialogues, and links all this to the broad changes in the Middle East, will see that Riyadh is aware of the profound risks facing the region. Its aim is to bring together politicians, economists and executive leaders to be a force for good, not for evil and tyranny.

The increase in foreign direct investment to $31.7 billion in 2024, along with the rise in the contribution of nonoil sectors to 56 percent of gross domestic product, confirm that the transformation from a rentier economy to a productive one has become a reality today in the Kingdom. �������� is seeking to present its regional development model directly linked to its foreign policy rooted in what might be called “quiet power.” This approach emphasizes the creation of a financial and investment network that fosters practical balance among nations, reduces the potential for escalation and puts an end to the senseless wars which have destroyed several states, as seen in Gaza and Lebanon.

The vision behind the forum reflects an understanding that stability cannot be secured through security alliances alone, but rather through an open economic environment capable of engaging everyone. This explains why the forum brought together figures from a diverse political and economic spectrum, and included green energy, modern technologies, and artificial intelligence on the agenda as pillars of sustainable development. �������� seeks to invest in these fields and train and qualify its national cadres to realize the goals of Saudi Vision 2030, which requires a less tense regional environment.

• Hassan Al-Mustafa is a Saudi writer and researcher interested in Islamic movements, the development of religious discourse, and the relationship between Gulf Cooperation Council states and Iran. X: @Halmustafa