Saudis no longer give out free money.
The famous Saudi investment fund, worth over $900 billion, and the enthusiasm of its managers to provide credit, loans, and capital to companies and investment funds was once the top choice for investors to raise capital quickly and with the lowest interest rates.
This trend may have continued until a few months ago. One of the latest relatively large and quickly received investments was the $5 billion received by the famous investment company BlackRock. The process was even more stringent than before, with the $5 billion provided by the Saudis.
Gone are the days of easy money for large Western companies. The conditions and behavior of the famous Saudi investment fund have changed.
Commissions for reviewing capital acquisition requests have been established and operational, and companies and funds have been accustomed to this process for several months.
Capital acquisition requests have decreased for this reason, and many cases come with specific conditions.
Companies wishing to operate in Saudi Arabia must establish their Middle East office and headquarters in Riyadh and forget about going to Dubai, especially as Dubai and Abu Dhabi have been attracting investors more strongly than before in the past one or two years. Saudis are also seriously considering attracting foreign capital.
Since the implementation of the famous Vision 2030 plan in 2017, an average of $12 billion in foreign capital has been attracted to Saudi Arabia annually, and in the latest review, Saudis have targeted attracting $100 billion annually by 2030 with this plan and program.
Experts consider achieving this vision impossible, but that doesn’t mean Saudis will give up their efforts.
New laws have been formulated to facilitate and encourage foreign investment in order to compete with the UAE and Qatar, and Saudis are determined to increase the economic, cultural, and social attractions of their country to a level that matches the golden land, Dubai.
Persian
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