Summary
There was standing room only in the expansive halls of Riyadh's Ritz-Carlton hotel Tuesday as the world's financial royalty attended Saudi Arabia's Future Investment Initiative conference, aimed at courting global investors. Saudi Arabia said it signed over two dozen investment deals worth $15 billion, mostly in the manufacturing sector, as the kingdom strives to show that Crown Prince Mohammad bin Salman's diversification plan is on track after limited progress since the first FII forum 2017 .
The $15 billion deals announced Tuesday included sectors such as manufacturing and technology.
Aramco CEO Amin Nasser was absent from the conference as he was meeting investors abroad to secure the planned initial public offering on Nov. 3, three people with direct knowledge of the matter told Reuters.
In addition to the deals announced Tuesday, which include a $120 million investment deal between the Saudi Arabian General Investment Authority and BRF Brazil Foods, other agreements include a memorandum of understanding between Samsung and Saudi entertainment resort Qiddiya.
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