Saudi Arabia clinches $50bn in deals at ‘Davos in the desert’ forum despite Khashoggi crisis
The death of journalist Jamal Khashoggi at the Saudi Consulate in Istanbul hasn’t hindered the kingdom in signing $50 billion worth of contracts at an investment conference in Riyadh on Tuesday.
The deals were signed in oil, gas, infrastructure, and other sectors at the Saudi international business forum, dubbed the ‘Davos in the desert’. Companies involved in the deals include Total, Hyundai, Schlumberger, Baker Hughes, and others.
READ MORE: Khashoggi’s body parts found in garden of Saudi consul general’s home – sources
Saudi oil giant Aramco clinched agreements with 15 international partners worth more than $34 billion. 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.
Saudi press reinforces MBS message that he’s giving up on West and “looking East” for his ill-fated investment forum pic.twitter.com/DCUwsfhMKz
— Mohamad Bazzi (@BazziNYU) October 23, 2018
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.
Standing room only at Saudi Arabia’s “Future Investment Initiative” conference today, even after many executives pulled out over the killing of journalist Jamal Khashoggi. People are actually getting blocked at the door because it’s too full. No robots this year #tictocnews#FIIpic.twitter.com/oC3OMPUArE
— Vivian Nereim (@viviannereim) October 23, 2018
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