Saudi Arabia Wins $50bn Deals at 'Davos in the Desert' Despite Khashoggi Scandal
The deals were signed in infrastructure oil, gas and other sectors
Saudi Arabia has clinched 50 billion worth of contracts at an investment despite the death of journalist Jamal Khashoggi which many said would cause companies to pull out.
The deals were signed in infrastructure oil, gas and other sectors at the Saudi international business forum, otherwise known as Davos in the desert’.
Saudi oil giant Aramco won agreements with 15 international partners amounting to more than n $34 billion
According to RT: Saudi Arabia’s crown prince, Mohammed bin Salman, received a standing ovation despite being suspected of playing a role in the killing of journalist Jamal Khashoggi.
Energy Minister Khalid al-Falih told a panel that the top-three oil exporter Saudi Arabia was facing a “crisis of a sort” but would speed up economic diversification plans.
"Nobody in the kingdom can justify it [Khashoggi’s killing] or explain it," he said.
About 320 foreign institutions have registered as qualified foreign investors on the Saudi Stock Exchange and another 200 are expected to follow.
During US Secretary of State Mike Pompeo's visit Riyadh to discuss the likely death of journalist Jamal Khashoggi following his mysterious disappearance, Saudi Arabia donated $100 million to the State Department for United States' efforts against the Islamic State (IS) group, according to reports.
Despite the transfer of fund being approved in early summer, the timing of a large amount of money clearing, just as the Khashoggi crisis deepens, is arousing suspicion from critics.