Khashoggi crisis threatens to alienate foreign firms remaking Saudi economy

Crown Prince of Saudi Arabia Mohammed bin Salman Al Saud (R)  poses with Richard Branson (L), founder of Virgin Group Ltd. during his visit to Virgin Galactic company as part of his official visits in California, United States on April 2, 2018. 

Bandar Algaloud | Anadolu Agency | Getty Images

Crown Prince of Saudi Arabia Mohammed bin Salman Al Saud (R) poses with Richard Branson (L), founder of Virgin Group Ltd. during his visit to Virgin Galactic company as part of his official visits in California, United States on April 2, 2018. 

Saudi Arabia’s international partnerships have expanded This kind of year.

The PIF has contributed $45 billion to SoftBank Group’s Vision Fund, which has invested in start-ups like Flipkart, DoorDash, Wag along with WeWork. MBS recently said Saudi Arabia plans to make another $45 billion investment in SoftBank’s second Vision Fund.

During a Saudi summit in completely new York in March, J.P. Morgan along with the Saudi Industrial Development Fund announced a nonbinding agreement to explore opportunities for industrial investment. State oil giant Saudi Aramco announced $10 billion in potential partnerships with 14 U.S. companies, including a memorandum with Google Cloud to develop cloud computing services from the kingdom.

National Geographic also signed an agreement with the King Abdulaziz Center for World Culture to develop content, exhibitions along with live entertainment from the kingdom.

In a moment in which today appears prescient in light of the disappearance of Khashoggi — a noted critic of MBS — National Geographic CEO Gary Knell addressed concerns about the Saudi market during a panel at the completely new York summit.

“I think the issues obviously have been around open civic dialogue around certain issues,” Knell said.

“I think there’s still a bit of a tripwire.”

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