As Bin Salman falsely boasts about the improvement of Saudi Arabia’s conditions, his people are suffering from the high prices in all services. Reuters revealed a sharp decline in the levels of foreign investment in Saudi Arabia, and attributed it to the lack of credibility of the authorities and the increasing influence of corrupt officials.
The agency explained that Saudi Arabia is facing an inevitable problem with investors, as Saudi markets suffer from a decline in foreign investment and its economic plans have lost their luster, with unexpected and unstable economic plans, in addition to financial transparency in regulations and taxes in Saudi Arabia, and that operating costs have become higher than before, amid a shortage of skilled local workers.
A Plan with No Response
As to the Vision 2030 launched by the Saudi Crown Prince five years ago, the agency said that the vision, which aims to change the dependence of the Kingdom’s economic system on oil and make it a diversified system, the vision did not achieve its goals, even at a promising rate, so the rate of foreign investment in Saudi Arabia is still lower.
Many of the goals were planned, which reflects the failure of bin Salman’s vision and his inability to convince foreign investors, attributed to the threats of MBS of preventing making contracts for companies that will not move their headquarters to Riyadh.
It is worth noting that Saudi Arabia under MBS launched Vision 2030 with the aim of increasing foreign investment from $8 billion in 2015 to $19 billion by 2020, however foreign investment in 2020 reached $5.5 billion only, which means a retreat since 2015.
The longer-term goal of bin Salman’s economic vision was for foreign direct investment to reach 5.7% of GDP by 2030, and then surprising the world’s investors with raising the risk rate again, claiming that it wanted $100 billion of annual foreign direct investment by 2030; a new target that many international analysts have deemed unrealistic and unattainable.
The summary of what was published by Reuters confirms once again that bin Salman is incompetent, inexperienced, and harmed the Kingdom on all levels and fields, political, social, economic, and military, which makes us wonder, until when will the reckless young man who lives the role of a brutal dictator manipulate the history and future of the state and its people?
