ABNA24 - Under the impact of Yemeni airstrikes, Saudi Arabia was forced to announce the postponement of one of the most vital conferences the Kingdom was relying on to achieve a breakthrough in the Saudi economy.
On Monday, Saudi authorities announced the postponement of the “Future Investment Initiative” (FII) conference until next year, due to Yemeni aerial attacks that targeted major sovereign sites deep within the Kingdom.
Over the past few days, Saudi Arabia has been forced to cancel and postpone a series of important conferences and events that were scheduled to be hosted by the Kingdom, owing to a breakdown in security resulting from successive Yemeni attacks deep inside Saudi territory.
Despite the incentives and reassuring messages Riyadh attempts to convey to the international community, observers note that Saudi Arabia has become incapable of concealing its inability to counter attacks by Sanaa forces, or ignoring the pain inflicted by these strikes.
Yemeni attacks have exposed the extent of confusion and fragility plaguing the Saudi regime, reaching a point where Saudi authorities disabled the early warning system for incoming attacks from Yemen in an attempt to project an illusion that everything was fine—before being forced to reactivate the early warning system under pressure from foreign diplomatic missions in the Kingdom.
Observers believe that pleading for help from friends and allies while simultaneously promoting investment attraction are two contradictory matters, as investments fundamentally rely on security as a prerequisite for attracting investors.
The “Future Investment Initiative” conference represents one of the most critical investment promotion events in Saudi Arabia.
Economic analysts believe that Saudi Arabia, which has failed over the years to attract global companies and investors for several reasons—chief among them the war on Yemen—appears today to be sinking deeper into the quagmire of failure. It has neither succeeded in reaching a settlement for its war on Yemen, nor managed to proceed with fulfilling the dreams of the Crown Prince and de facto ruler of Saudi Arabia, Mohammed bin Salman, to transform the Kingdom into an investment hub at the regional and global levels.
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