Future of Saudi Arabia and Prospects for Foreign Investors
"I want to address the important topic of investment prospects in Saudi Arabia. But from the lens of how they may be perceived by external investors. Now Saudi, under its Crown Prince Mohammed bin Salman, has embarked upon a dramatic transformation and it's doing so in a world which is also undergoing profound and rapid change. In fact, Saudi is a member of a club of countries that is experimenting with a new model of economic development. It's trying to make the jump from intermediate stage of economic development to being a modern industrial and innovation economy. And it's trying to do this with a recipe of aggressive economic liberalization, a carefully balanced expansion of civil liberties, but all under the tight centralized control of the state and particularly strong leader: Mohammed bin Salman. Now a large economy has never made this jump before, not with a straight state controlled model anyway. China, Turkey and a few others are trying but they're all work in progress. And so the Crown Prince's national transformation plan does have some risks associated with it. And the big question is will the rest of the world view this risk in a way that it is a positive gamble and invest in it, or will they watch and wait..."
Listen to the rest of Dr. Ghosh's speech at: