Saudi Scandals

Bin Salman’s crises affect foreign investments in the Kingdom

The political, economic, and military crises brought about by the reckless ruler, Mohammed bin Salman, have negatively impacted foreign investments in Saudi Arabia.

Bin Salman proceeded to implement a set of social policies, the first of which is the policy of urbanization, with which Bin Salman aims to move the Kingdom to a liberal state, which is intended to open up to Western societies.

The second crisis in Bin Salman’s attempt to move into a society lies in his lack of appreciation for the status of the land of the Hijaz for Muslims in other parts of the world due to the sacredness it contains.

The great expansion in the establishment of tourist resorts without setting controls to control them and facilitating tourist visas more broadly than Hajj and Umrah visas during the past periods caused a state of alarm among the Saudi and Islamic public opinion.

This expansion created a state of discontent against the policies of the Crown Prince, among those projects, NEOM, and “Amala” resorts, both of which are within the “Vision 2030” projects.

The Crown Prince will establish special airports for these areas and new projects to align with the customs of tourists that bin Salman wants to attract from all countries of the Western world.

Investors flee

Despite bin Salman’s efforts to achieve his contradictory ambitions with Saudi society, foreign investors believe that the policies implemented by the reckless ruler do not appeal to society but rather create societal crises.

Consequently, investors are still afraid of investing in these projects, which has negatively affected all the initiatives announced by the Crown Prince.

Bin Salman’s options placed the state between two options, the best of which was the first: to continue to break customs and traditions forcibly and forcibly, and this would cause a comprehensive state of societal discontent with his policies and system.

The second: for Bin Salman to retract these steps, which will turn back the clock, and in turn, will also affect the decisions of investors.

It will make the Kingdom lose hundreds of billions of dollars that the Crown Prince threw into ill-considered tourism projects, relying on the security grip that is not suitable for managing the stages of social transition.

Observers wonder: Does bin Salman realize the situation in consultation with the people of expertise and experience in the Kingdom, or is he going according to his whimsical plans to take a new seat in the arena of failure?

Confused Policies

In an attempt to attract investors who fled the investment process inside the Kingdom, especially from the Vision 2030 projects launched by bin Salman, the Crown Prince tried to take a set of measures that facilitate attracting investors to the Saudi labour market, as it recently eased the complexities of the sponsorship system, which the Kingdom has been operating in since its inception.

The system prevents the investor and the foreign worker in the Kingdom from opening a bank account, changing profession, or leaving the country without written permission.

Despite the Saudization policies that he has settled, the unemployment rate among young people in Saudi Arabia is still high.

Bin Salman recently initiated building the Jeddah Tower to be longer thane Burj Khalifa. Still, as soon as Saudi Arabia began working on the Jeddah Tower, the UAE started building a tower taller than the Jeddah Tower, which was called the “Dubai Creek Tower.”

The Dubai Creek Tower is a secret project whose final height has not yet been revealed and is characterized by small usable areas.

And work on the “Dubai Creek Tower” was stopped shortly after the start of construction work on the “Jeddah Tower”, so it seems that its only purpose is to be the hidden advantage of the emirate, to deprive Saudi Arabia of achieving its quest to achieve a world record, and retain the title of “tallest tower” in the world” to Dubai.

There is another chapter of competition or economic rivalry between the Kingdom of Saudi Arabia, led by bin Salman, and the UAE, led by Mohammed bin Zayed.

Bin Salman recently tried to limit government contracts within the Kingdom to companies whose headquarters are located in Riyadh, Dammam or Jeddah.

But what is remarkable about the matter is that the name NEOM was not among the cities that the Crown Prince proposed to major companies to set up their headquarters, and he also neglected the “King Abdullah Economic City”, which was interpreted by specialists as strictness and failure of vision.

As well as the lack of economic work experience, competition with countries, and that what bin Salman is doing is nothing but a failed attempt to coerce major companies to move their headquarters from the Emirates to the Kingdom of Saudi Arabia.

This soon revealed his lies in front of his people about the illusions of the city of dreams, which he killed, arrested and deserted the people of the region in order to build it.

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