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Saudi Arabia’s race to attract investment dogged by scepticism

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Reuters

By Davide Barbuscia, Saeed Azhar and Yousef Saba DUBAI (Reuters) – Saudi Arabia could have a credibility problem if it keeps shifting the goal posts for the amount of foreign investment it wants to turn its vision of a future beyond oil into a reality, financial sources and analysts said. Five years since Crown Prince Mohammed bin Salman launched Vision 2030 to end the kingdom’s dependence on fossil fuels, foreign direct investment (FDI) remains well short of targets. When Riyadh unveiled the plan in 2016, it aimed to boost annual FDI to nearly $19 billion by 2020 from $8 billion in 2015, but …

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