Saudi Arabia tries to attract more investors. With oil prices low, Saudi Arabia is making a strong push to draw investors to its oil industry. The kingdom issued a decree that aims to bring domestic business in line with international practices by focusing on issues such as protection and sustainability of investments, equality between investors, social and environmental standards, and knowledge and technology transfers. The decree’s timing coincides with analyst projections of slower growth for the Gulf Arab states because of oil production cuts. Saudi gross domestic product is estimated to grow by just 2.1 percent this year and 2.2 percent in 2020. Combined with middling oil prices and production cuts, these sluggish growth rates will make it difficult for the government to keep up public and social spending and to enact economic reforms. But the kingdom can still use its oil money to further its interests on the international stage, as its recent $10 billion investment to build an
Daily Memo: Saudi Arabia Looks for Investors, Russia Looks for Threats
All the news worth knowing today.