Saudi Arabia’s economic reforms are not attracting investors - A prince fails to charm
▻https://www.economist.com/middle-east-and-africa/2018/12/22/saudi-arabias-economic-reforms-are-not-attracting-investors
Prince Muhammad wants foreign investors to think that Saudi Arabia is a safe bet. But his capricious policies, from the locking-up of wealthy Saudis in 2017 to pointless diplomatic feuds with Canada and Germany, are scaring them off. Foreign direct investment fell to $1.4bn (0.2% of GDP) in 2017, from $7.5bn the year before. An investment conference in Riyadh in October was overshadowed by the grisly murder of Jamal Khashoggi, an exiled Saudi journalist, in a Saudi consulate in Turkey. Rich Saudis are trying to move their money abroad: $80bn left the country last year.