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29 Jan, 2019 15:00

Saudis say forget Khashoggi & let's do business – RT's Boom Bust checks if anyone's interested

Saudis say forget Khashoggi & let's do business – RT's Boom Bust checks if anyone's interested

In an effort to diversify its oil-based economy, Saudi Arabia has announced the launching of a massive infrastructure project that will be seeking almost $430 billion in private sector investments over the next 10 years.

That's all part of Prince Mohammad bin Salman's Vision 2030 program which is designed to broaden economic opportunities into the field of education, health, entertainment, infrastructure, and tourism. It aims to attract investment for constructing five more airports, new train routes, and other projects. The Saudis are looking for mostly foreign investments and local funding as well.

Conservative TV and radio commentator Steve Malzberg told RT's Boom Bust that foreign investments will be the key, adding that foreign direct investments into Saudi Arabia have gone down from $40 billion in 2008 to just $1.4 billion in 2017.

“That's going to be a problem, the case with Khashoggi, the way they treat women,” he said, explaining that publicly owned companies will think “Hey, do you want to be associated with Prince Mohammed and his policies?”

For more stories on economy & finance visit RT's business section