Saudi Arabia has drawn up a new strategy to convince US companies to invest in the kingdom, as it struggles to deal with the impact of sharply lower oil prices.
Officials have been contacting a host of US corporations as Riyadh looks to increase foreign investment in its stuttering economy and boost employment, according to people familiar with the matter.
“The point is to attract inflows of cash and create jobs, which is why there is a focus on retail and healthcare, which are both labour intensive sectors,” said one Saudi banker briefed on the plans.
Mohammed bin Salman Al Saud, Saudi’s deputy crown prince, met a number of American chief executives when he and his father, King Salman, visited the US in September. Saudi officials have also been in contact with leading private equity firms to ask whether Riyadh can do business with their portfolio companies, one financier said.
The investment push is part of Saudi Arabia’s drive to lessen reliance on oil prices, which have fallen from about $115 a barrel in the summer of 2014 to $36.
在去年9月份与父亲沙特国王萨勒曼(King Salman)访问美国期间，沙特副王储穆罕默德?本?萨勒曼?阿勒沙特(Mohammed bin Salman Al Saud)会见了多名美国首席执行官。一位金融家表示，沙特官员也一直在和顶尖的私人股本公司接触，询问沙特政府是否能与它们名下的企业合作。